April 24 (Reuters) - Futures for Canada's main stock
index were muted on Monday, with weakness in crude prices offset
by gains in gold, while investors remained on the sidelines
ahead of major U.S. earnings.
June futures on the S&P/TSX index were flat at 7:01
a.m. ET.
Oil prices were steady as concerns over rising interest
rates, the global economy growth and the outlook for fuel demand
were balanced by the prospect of tightening supplies. The bullion gained but traded in a tight range as markets
continued to focus on the U.S. Federal Reserve's interest rate
strategy in its fight against surging inflation. Investors also remained cautious ahead of earnings from
major U.S. growth companies this week, including Microsoft Corp and Amazon , while global markets remained
subdued. The Toronto Stock Exchange's S&P/TSX composite index ended higher on Friday, clocking gains for the fifth
straight week as technology stocks rallied, but the materials
sector lost ground on lower gold prices.
In company news, the Alberta Energy Regulator has started an
investigation into the death of 32 waterfowl at a Suncor Energy
Inc tailings pond on its Base Mine Site.
Lundin Mining Corp , which recently made Chile's
first big copper acquisition in nearly a decade, is setting
targets for its new Caserones mine and waiting to expand its
existing Candelaria mine, its CEO said in an interview.
TC Energy Corp said a 14,000-barrel oil spill from
its Keystone pipeline in rural Kansas in December was primarily
due to a progressive fatigue crack, which originated during the
construction of the pipeline.
COMMODITIES AT 7:01 a.m. ET
Gold futures : $1,985.6; +0.22% US crude : $77.66; -0.27% Brent crude : $81.38; -0.34% 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 = 1.3539 Canadian dollars)
(Reporting by Shristi Achar A in Bengaluru; Editing by Shilpi
Majumdar)
