June futures on the S&P/TSX index were up 0.1% at 7:06 a.m. ET. Gold prices remained above the $2,000 level, boosted by bets that the U.S. Federal Reserve might pause or slow the pace of rate hikes after the central bank predicted a mild recession this year. U.S. stock index futures rose ahead of March's producer prices and weekly jobless claims data that could offer clues on the Fed's monetary tightening plans. The Toronto Stock Exchange's S&P/TSX composite index rose on Wednesday to its highest closing level in five weeks as higher commodity prices boosted resource shares and the Bank of Canada kept interest rates unchanged as expected. Oil prices, however, slipped as the market weighed the prospect of tight supply against possible recession in the United States. In company news, several Teck Resources Ltd shareholders called for Glencore Plc to sweeten its takeover bid for the copper-and-zinc miner, saying the offer is still not high enough for them to oppose Teck's own restructuring plan. Gold miner Barrick Gold Corp said on Thursday its first-quarter gold production fell 15% sequentially, hurt by lower output at its Carlin mine. Corus Entertainment reported a loss of 8 cents/share in its second-quarter results due to drop in advertising revenue.
COMMODITIES AT 7:06 a.m. ET
Gold futures : $2,030.2; +0.72% US crude : $82.85; -0.49% Brent crude : $86.82; -0.58% 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 = 1.3393 Canadian dollars) (Reporting by Shristi Achar A in Bengaluru; Editing by Shailesh Kuber)
