Among domestic data, investors await February producer prices data before markets open. (Reporting by Shashwat Chauhan in Bengaluru; Editing by Shilpi Majumdar)
March 17 (Reuters) - Futures tracking Canada's main
stock index gained on Friday, boosted by higher commodity
prices, as concerns of a global banking meltdown ease on
supportive measures.
Futures on the S&P/TSX index were up 0.1% at 6:45
a.m. ET (1045 GMT), while their U.S. counterparts were mixed.
U.S. stock index futures struggled for direction as
investors remained wary about a potential banking crisis. The benchmark Canadian index closed higher on
Thursday, bouncing back from a 1.6% fall in the previous
session, as fears began to ease after major U.S. banks offered a
$30 billion lifeline for beleaguered First Republic Bank , while Credit Suisse also received an emergency
liquidity line from the Swiss central bank.
Commodity prices tend to influence the resources-heavy TSX.
Commodity-linked stocks account for nearly 31% of the index.
Oil prices firmed after a meeting between Saudi Arabia and
Russia calmed markets amid strong demand expectations from
China. Gold prices edged higher against a weaker dollar, while most
base metals rallied, boosted by easing concerns over a banking
crisis. In earnings, financial services company Power Corporation of
Canada reported less-than-expected fourth-quarter
profit.
Algonquin Power & Utilities reported
better-than-expected fourth-quarter earnings.
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