TSX set to rise for seventh straight session

Kitco Media
By Reuters
Published:
Updated:
Reuters

April 17 (Reuters) - Futures for Canada's main stock index edged up on Monday, with strength in gold prices limiting the drag from crude, while investors took cues from a subdued mood on Wall Street.

June futures on the S&P/TSX index were up 0.1% at 6:55 a.m. ET.

Spot gold prices rose on weakening dollar, as mixed economic data prompted investors to reassess the U.S. Federal Reserve's interest rate hike trajectory.

Oil prices were steady as investors eyed Chinese economic data for signs of demand recovery in the world's second-largest oil consumer.

U.S. stock index futures were largely flat as investors awaited more bank earnings and views from Fed policymakers that could shape expectations around when the central bank would pause its monetary policy tightening.

The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) had closed at its highest in six weeks on Friday, helped by gains from energy and financial shares, while weaker gold prices drove down mining stocks.

In company news, Teck Resources Ltd (TECKb.TO) has been approached by Vale SA (VALE3.SA), Anglo American Plc (AAL.L) and Freeport-McMoRan Inc (FCX.N), among others, to explore deals for its base metals business if the copper miner goes ahead with a planned split, sources close to the matter told Reuters on Sunday.

COMMODITIES AT 6:55 a.m. ET

Gold futures : $2,011.4; +0.24%

US crude : $82.14; -0.46%

Brent crude : $85.94; -0.43%

FOR CANADIAN MARKETS NEWS, CLICK ON CODES:

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($1 = 1.3360 Canadian dollars)

Reporting by Shristi Achar A in Bengaluru; Editing by Shilpi Majumdar
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