April 20 (Reuters) - Futures for Canada's main stock
index fell on Thursday, tracking weakness in crude prices on
growing worries over the U.S. interest rates staying higher for
longer.
June futures on the S&P/TSX index were down 0.3% at
7:02 a.m. ET.
Oil prices fell to their lowest in about three weeks,
extending a 2% fall on Wednesday, with rate hike expectations
outweighing lower U.S. crude stocks. Limiting declines, spot gold prices gained against a
dip in the U.S. dollar. South of the border, futures tracking Wall Street indexes
slid as elevated U.S. Treasury yields pressured growth stocks. The Toronto Stock Exchange's S&P/TSX composite index ended its eight-day winning streak on Wednesday as
lower commodity prices weighed on resource shares. The index,
however, clawed back much of its losses late in the session.
In company news, Teck Resources' shareholder
Sumitomo Metal Mining said it supports Teck's plan to
create two separate companies, as the Vancouver-based miner
fends off an unsolicited takeover bid from mining giant Glencore .
Scotiabank upgraded real estate investment trust Chartwell
Retirement Residences to "sector outperform" from
"sector perform."
COMMODITIES AT 7:02 a.m. ET
Gold futures : $2,006.1; +0.41% US crude : $77.9; -1.59% Brent crude : $82.01; -1.34% U.S. ECONOMIC DATA DUE ON THURSDAY
Weekly jobless claims at 8:30 a.m. ET
Philadelphia Fed's business index at 8:30 a.m. 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 = 1.3476 Canadian dollars)
(Reporting by Shristi Achar A in Bengaluru; Editing by Shilpi
Majumdar)
