June futures on the S&P/TSX index were up 0.4% at 7:02 a.m. ET. Gold prices rose, buoyed by a weaker U.S. dollar, while investors looked for more clarity on the Federal Reserve's rate-hike trajectory. Futures tracking Wall Street's indexes rose as investors braced for a busy day of earnings, with shares of Bank of America Corp and Bank of New York Mellon Corp rising 2.6% and 1%, respectively, as both lenders' first-quarter profit beat estimates. Goldman Sachs is due to report later in the day.
Limiting gains, crude prices slipped as strong Chinese economic data failed to deflect the focus from a possible increase in U.S. interest rates and wider concerns over the growth outlook. Investors' focus is also on March domestic consumer prices data due later in the day. The Toronto Stock Exchange's S&P/TSX composite index closed at its highest level in two months on Monday, underpinned by technology shares and an upbeat session by miner Teck Resources Ltd .
In company news, U.S.-listed shares of Bellus Health Inc surged 97.6% in premarket trade as GSK Plc plans to buy the Canada-based drug developer in an all-cash deal for $2 billion. Gold miner B2Gold Corp said it has started the phased closure of its Otjikoto open-pit mine in Namibia because of its depleted gold resource. COMMODITIES AT 7:02 a.m. ET
Gold futures : $2,005; +0.37% US crude : $80.71; -0.15% Brent crude : $84.66; -0.12% FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
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(Reporting by Shristi Achar A in Bengaluru; Editing by Sherry
Jacob-Phillips)
