off-the-wire

CANADA STOCKS-TSX futures inch higher on gold prices; U.S. inflation data in focus

Kitco Media
By Reuters
Published:
Updated:
Reuters
Feb 14 (Reuters) - Futures for Canada's main resource-heavy stock index edged higher on Tuesday helped by an uptick in gold prices, ahead of the key U.S. inflation data that could provide cues on the Federal Reserve's monetary policy tightening path. March futures on the S&P/TSX index were up 0.1% at 6:45 a.m. ET. The Toronto Stock Exchange's S&P/TSX composite index rose 0.4% on Monday, continuing its choppy trading pattern since the start of the month, with technology stocks tracking gains on Wall Street.


Gold prices edged higher on Tuesday as the dollar slipped, ahead of the U.S. inflation data. January's U.S. consumer price index (CPI) data is due at 8:30 a.m. ET, and a Reuters poll forecast the headline CPI figure to rise 0.5%. The data could set the tone for the Fed and global central banks' future interest rate decisions.


In Canadian company news, Burger King owner Restaurant Brands International Inc named Joshua Kobza its new chief executive officer effective March 1, and reported fourth-quarter revenue slightly above analysts' average estimate, boosted by strong demand at three of its main restaurant chains. TC Energy Corp beat market estimates for fourth-quarter profit, as robust demand for energy boosted the North American pipeline operator's earnings from transporting natural gas.


Algoma Steel Group Inc posted a decline in revenue and net income in the third quarter of the fiscal year 2023, due to a decrease in production volume and higher production costs.


COMMODITIES AT 6:45 a.m. ET


Gold futures : $1,857.3; +0.12% US crude : $78.7; -1.8% Brent crude : $85.43; -1.36% 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 = 1.3339 Canadian dollars) (Reporting by Shristi Achar A in Bengaluru; editing by Eileen Soreng)

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