May 4 (Reuters) - Futures for Canada's main stock index
edged lower on Thursday, as markets digested mixed signals from
the U.S. Federal Reserve, while gains in gold and crude prices
limited the decline.
June futures on the S&P/TSX index were down 0.2% at
6:52 a.m. ET.
The Fed increased lending rates by the widely expected 25
basis points and signaled a potential pause.
Investors, however, took cues from Fed Chair Jerome Powell's
statement that inflation remains a chief concern and it was too
early to indicate if the monetary tightening cycle is near its
end.
Losses on the futures for the commodity-heavy TSX were
limited as oil and gold prices edged up against the dollar. The Toronto Stock Exchange's S&P/TSX composite index fell on Wednesday, as weaker oil prices weighed on
energy shares.
In company news, Canadian Natural Resources Ltd narrowly missed analysts' estimates for first-quarter profit, as
lower energy prices more than offset a rise in production for
the country's largest oil and gas producer.
First Horizon Corp and Toronto-Dominion Bank Group have agreed to call off their $13.4 billion deal on lack
of clarity on if and when they would get regulatory approvals to
close the deal.
Meanwhile, markets await domestic trade balance data for
March due at 8:30 a.m. ET.
COMMODITIES AT 6:52 a.m. ET
Gold futures : $2,047.6; +0.52% US crude : $68.83; +0.34% Brent crude : $72.78; +0.62% U.S. ECONOMIC DATA DUE ON THURSDAY
Weekly jobless claims at 8:30 a.m. ET
International trade data for March 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 = 1.3604 Canadian dollars)
(Reporting by Shristi Achar A in Bengaluru; Editing by Shilpi
Majumdar)
