April 14 (Reuters) - Futures for Canada's
commodity-heavy stock index edged up on Friday, tracking a rise
in crude prices, while upbeat earnings from big U.S. banks
supported optimistic investor mood.
June futures on the S&P/TSX index were up 0.2% at
7:00 a.m. ET.
Oil prices advanced after the International Energy Agency
said it expects global demand to rise to a record high this year
on a recovery in Chinese consumption, while warning that output
cuts announced by OPEC+ producers could exacerbate an oil supply
deficit and hurt consumers. Wall Street futures slipped as most growth and technology
stocks were down in premarket trading, while robust earnings
from big U.S. banks, including JPMorgan Chase & Co and
Wells Fargo & Co , limited losses for futures tracking
S&P 500 .
The Toronto Stock Exchange's S&P/TSX composite index rose on Thursday to its highest closing level in
nearly six weeks, buoyed by strength in gold miners.
In company news, Scotiabank downgraded oil and gas company
Cenovus Energy Inc to "sector perform" from "sector
outperform."
TRX Gold Corp said the gold miner was on track to
meet its gold production forecast for the fiscal year 2023.
COMMODITIES AT 7:00 a.m. ET
Gold futures : $2,046.1; +0.01% US crude : $82.52; +0.44% Brent crude : $86.45; +0.42% 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 = 1.3319 Canadian dollars)
(Reporting by Shristi Achar A in Bengaluru; Editing by Shilpi
Majumdar)
