off-the-wire

CANADA STOCKS-TSX futures track higher commodity prices

Kitco Media
By Reuters
Published:
Updated:
Reuters
April 27 (Reuters) - Futures for Canada's main stock index gained on Thursday, supported by higher oil and gold prices, while investors assessed multiple earnings updates in Canada and the U.S. June futures on the S&P/TSX index were up 0.4% at 6:26 a.m. ET. Oil prices edged higher after a price drop the previous day reversed the supportive impact of a surprise OPEC production cut announced this month. Gold prices rose as economic worries returned to the fore and traders awaited U.S. data for hints on the Federal Reserve's policy trajectory. Futures tracking Wall Street also gained, helped by an upbeat forecast from Meta Platforms Inc amid earnings-heavy week.


On Wednesday, the Toronto Stock Exchange's S&P/TSX composite index fell to its lowest closing level in two weeks as oil prices dipped and investors worried that a slowdown in economic growth could expose lenders to increased risk of default on their loans. In company news, Glencore Plc said its takeover bid for Teck Resources Ltd still stands, after the Canadian miner scrapped a restructuring plan.


French oil and gas major TotalEnergies said on Thursday it had accepted an offer to sell its Canadian operations to Suncor Energy for $4.1 billion, with the potential additional payments of up to $450 million.


COMMODITIES AT 6:24 a.m. ET


Gold futures : $2008.4; +0.62% US crude : $74.38; +0.11% Brent crude : $77.92; +0.30% U.S. ECONOMIC DATA DUE ON THURSDAY GDP data for first quarter at 8:30 a.m. ET Weekly jobless claims 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 = 1.3633 Canadian dollars) (Reporting by Shristi Achar A in Bengaluru; Editing by Shweta Agarwal)

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