Feb 27 (Reuters) - Futures for Canada's main stock index rose on Thursday, bolstered by the country's top lender Royal Bank of Canada's strong quarterly results and positive momentum from U.S. markets.
March futures on the S&P/TSX index were up 0.4% at 7.00 a.m. ET (1200 GMT).
Royal Bank of Canada (RY.TO), reported a higher first-quarter profit on Thursday, helped by strong performance in its wealth management unit.
Other smaller peers Bank of Montreal (BMO.TO), Bank of Nova Scotia (BNS.TO), and National Bank of Canada (NA.TO), also exceeded profit expectations earlier this week, similarly benefiting from strong wealth management revenues.
The top banks delivered positive earnings, aided by the Bank of Canada's rate cuts, while a favorable business stance in the U.S., a crucial market for Canadian lenders, further boosted sentiments.
Wall Street futures gained ground as AI giant Nvidia's upbeat forecast eased industry demand concerns, while markets assessed the impact of the Trump administration's latest trade threats.
U.S. President Donald Trump suggested Wednesday another month-long delay on new tariffs for Mexican and Canadian imports, potentially taking effect April 2. He also proposed a 25% "reciprocal" tariff on European automobiles and other goods.
In commodities, gold prices fell over 1% to its lowest level in more than a week, as the U.S. dollar firmed.
Meanwhile, oil prices , rebounded as supply concerns resurfaced after Trump revoked a licence granted to U.S. oil major Chevron (CVX.N), to operate in Venezuela.
The Toronto Stock Exchange's S&P/TSX composite index extended its winning streak to three days on Wednesday.
Looking ahead, investors will seek cues from Friday's U.S. Personal Consumption Expenditure data, the Federal Reserve's preferred inflation measure, to inform their expectations on monetary policy for the world's largest economy.
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Reporting by Ragini Mathur in Bengaluru; Editing by Vijay Kishore
