March 13 (Reuters) - Futures tracking Canada's main
stock index fell on Monday, mirroring a risk-averse sentiment
globally as investors assessed the fallout from the collapse of
Silicon Valley Bank (SVB).
Futures on the S&P/TSX index were down 0.7% at 6:47
a.m. ET (1047 GMT), while their U.S. counterparts came off early
highs and were trading near the flatline.
U.S. authorities rolled out emergency measures on Sunday to
shore up confidence in the banking system after the failure of
SVB threatened to trigger a broader financial crisis.
Canada's benchmark stocks index hit its weakest
close in two months on Friday, with financials logging
the biggest drag with their worst weekly performance in nearly
three years. A Canadian banking regulator on Sunday said it was
taking temporary control of SVB's unit in the country.
Helping cushion the blow, however, a softer dollar aided
commodity prices, which tends to benefit the resources-heavy
TSX. In earnings, architectural products distributor Adentra Inc will be reporting its fourth-quarter results before
markets open.
(Reporting by Shashwat Chauhan in Bengaluru; Editing by Dhanya
Ann Thoppil)
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