TSX eyes lower open as crude prices fall; data, earnings on tap

The Art Deco facade of the original Toronto Stock Exchange building is seen on Bay Street in Toronto, Ontario, Canada January 23, 2019. REUTERS/Chris Helgren/File Photo Acquire Licensing Rights

Crude, copper prices fall Canadian Q3 GDP, Nov employment data awaited Big banks earnings on tap Nov 27 (Reuters) - Futures tied to Canada's resources-heavy main stock index fell on Monday, tracking lower crude oil prices, while investors braced for a barrage of global economic data and domestic big bank earnings later this week.

December futures on the S&P/TSX index were down 0.2% at 7:00 a.m. ET (1200 GMT), mirroring declines in their U.S. counterparts .

Crude oil prices dipped over 1% ahead of an OPEC+ meeting later this week, while copper prices slipped over the slow pace of Chinese recovery.

Weighing on sentiment, profits at China's industrial firms extended gains for a third month in October, albeit at a slower pace, suggesting more policy support from Beijing is needed to help shore up growth in the world's second-largest economy.

Prices of most precious metals advanced with gold prices touching a six-month high.

Investors are also geared up for a bunch of economic data slated for this week, with domestic readings of third-quarter gross domestic product (GDP) and November employment numbers queued up.

Globally, inflation prints in the United States and across the eurozone are also awaited.

Canadian big bank earnings would also be in focus, with Bank of Nova Scotia (BNS.TO) , Royal Bank of Canada (RY.TO) , Bank of Montreal (BMO.TO) and National Bank of Canada (NA.TO) amongst others due to report their quarterly numbers later in the week.

The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) ended Friday lower, logging a 0.4% decline last week.

Despite the recent weakness, the benchmark index is eyeing sharp monthly gains on the back of rallying technology stocks as hopes grow that global interest rates have peaked.

On the company front, Miner First Quantum Minerals (FM.TO) intends to start an arbitration process with Panama, the Central American nation's trade ministry and the company said on Sunday.

COMMODITIES AT 7:00 a.m. ET

Gold futures : $2,013.5; +0.5%

US crude : $74.53; -1.3%

Brent crude : $79.59; -1.2%

($1= C$1.3629)