March 31 (Reuters) - Futures tracking Canada's main
stock index were muted on Friday as investors remained cautious
ahead of domestic economic growth data and key U.S. inflation
numbers.
Contracts tied to gold prices were also little changed and
precious and base metal prices remained subdued as markets
awaited U.S. personal consumption expenditures (PCE) data, due
at 8:30 a.m. ET.
The PCE data will offer clues on the outlook for interest
rate hikes and the strength of the U.S. dollar. Oil prices were stable, but on course for their weakest
performance since November. Canadian gross Domestic Product data (GDP), due at 8:30 a.m.
ET, is expected to reflect a 0.3% rise in January, according to
a Reuters poll of economists, compared with a 0.1% fall in the
previous month.
March futures on the S&P/TSX index were up 0.08% at
7:04 a.m. ET.
In company news, Rogers Communications Inc's C$20
billion ($15 billion) bid for Shaw Communications Inc is expected to gain government approval after the telecom firm
agreed to sell Freedom Mobile to Quebecor for C$2.85 billion, as
per a report.
Enbridge Inc and Norway's Yara International ASA said they are planning to invest up to $2.9 billion to
build a low-carbon blue ammonia production plant in Texas.
First Quantum Minerals Ltd and Rio Tinto Ltd will form a joint venture to develop the La
Granja copper project in Peru, with the Canadian miner buying a
55% stake in the project.
In the previous session, the Toronto Stock Exchange's
S&P/TSX composite index ended 0.5% higher, underpinned
by gains in commodity-linked stocks. Dow e-minis were up 71 points, or 0.21%, at 7:04
a.m. ET, while S&P 500 e-minis were up 7 points, or
0.17%, and Nasdaq 100 e-minis were down 4.25 points, or
0.03%. COMMODITIES AT 7:00 a.m. ET
Gold futures : $1,986.8; -0.09% US crude : $74.86; +0.64% Brent crude : $79.4; +0.3% U.S. ECONOMIC DATA DUE ON FRIDAY
Feb Personal Consumption Expenditure data due at 8:30 am ET
March University of Michigan Consumer Sentiment due at 10:00
am ET
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 = 1.3538 Canadian dollars)
(Reporting by Johann M Cherian in Bengaluru; Editing by Pooja
Desai)
