off-the-wire

CORRECTED-CANADA STOCKS-TSX futures inch higher ahead of U.S inflation data

Kitco Media
By Reuters
Published:
Updated:
Reuters
(Corrects paragraph 8 to say Dye & Durham will file second-quarter results, not fourth quarter) Feb 13 (Reuters) - Futures for Canada's main resource-heavy stock index inched higher on Monday as investors awaited U.S. inflation data due later in the week, while declining commodity prices limited gains. March futures on the S&P/TSX index were up 0.1% at 6:54 a.m. ET. The Toronto Stock Exchange's S&P/TSX composite index ended 0.1% higher on Friday, but posted weekly declines as investor sentiment took a hit after strong domestic jobs data fanned rate hike fears.


Globally, markets were steady a day ahead of U.S. inflation data that would shape expectations for future interest rates. The data is expected to show core consumer prices rose 0.4% for January.


Meanwhile, oil and gold prices fell as the dollar gained. In Canadian company news, gold miner B2Gold Corp announced the acquisition of Sabina Gold & Silver Corp in a deal valued at C$1.1 billion ($823.66 million). Software company Dye & Durham Limited is expected to report its second quarter of FY23 results before markets open.


Exane BNP Paribas downgraded gold miner Barrick Gold Corp to "neutral" from "outperform". COMMODITIES AT 6:54 a.m. ET


Gold futures : $1,863.9; -0.1% US crude : $79.39; -0.41% Brent crude : $86.09; -0.35% FOR CANADIAN MARKETS NEWS, CLICK ON CODES: TSX market report Canadian dollar and bonds report Reuters global stocks poll for Canada Canadian markets directory ($1 = 1.3369 Canadian dollars) (Reporting by Shristi Achar A in Bengaluru; Editing by Devika Syamnath)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.