CANADA STOCKS-Futures slip as oil remains on the back foot

May 26 (Reuters) - Stock futures pointed to a lower opening for Canada’s main stock index on Friday as oil prices edged lower, and are set to close at a weekly loss of more than 3 percent.

The Organization of Petroleum Exporting Countries’ (OPEC) decision to extend output cuts until the first quarter of 2018, disappointed investors betting on longer or deeper cuts.

June futures on the S&P TSX index were down 0.12 percent at 7:15 a.m. ET.

Canada’s main stock index dipped on Thursday as a plunge in oil prices weighed on energy shares, offsetting gains for industrials and financials after quarterly earnings from some major banks impressed investors.

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Taiwan’s Cathay Financial Holdings said its two subsidiaries have completed an agreement to acquire the Malaysia unit of Bank of Nova Scotia for $255 million.

Kinder Morgan Inc has made a final investment decision on its Trans Mountain pipeline expansion, contingent on the successful public offering of its Canadian division, the company said on Thursday as it acknowledges the political uncertainty weighing on the project.

Alberta oil and gas land sales have reached levels not seen since 2014 thanks to a rush to buy land in an oil-rich pocket of the Duvernay shale play that was until recently written off as being uneconomic.