TSX futures climb as gold gains on easing US rate-hike bets

Kitco Media
By Reuters
Published:
Updated:
Reuters
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July 3 (Reuters) - Futures tracking Canada's blue-chip stocks edged higher on Friday, supported by firmer gold prices after a weaker-than-expected U.S. jobs data tempered ​bets for a near-term Federal Reserve interest rate hike.

September ‌futures on the S&P/TSX index were up 0.1% at 6:23 a.m. ET (1023 GMT).

Spot gold and silver rose 1.3% and 2.6%, respectively.

Data showed on Thursday U.S. nonfarm payrolls ​rose by 57,000 last month, below the 110,000 expected by ​economists in a Reuters poll.

Oil prices were steady as ⁠traders pinned hopes on diplomatic efforts to secure peace in the ​Middle East between the United States and Iran.

Canada's S&P/TSX Composite Index (.GSPTSE), ended higher ​on Thursday, as gains in mining stocks outweighed losses in financials and auto parts shares.

The benchmark index was on track for a weekly loss.

Separately, Toronto Regional ​Real Estate Board data showed Greater Toronto Area home sales rose for ​a fourth straight month in June, while prices also increased, continuing the market's ‌recovery ⁠following a slow start to the year.

Among individual stocks, Australian miner BHP Group (BHP.AX), has agreed to transfer its San Manuel property in Arizona to Faraday Copper Corp (FDY.TO), in exchange for a 30% stake in the ​Canadian miner, as ​Faraday seeks to ⁠develop a copper hub around its adjacent Copper Creek project.

Canada's AtkinsRealis (ATRL.TO), anticipates that Turkey will complete an early ​review of its CANDU reactors following an information exchange ​later ⁠this summer, which may lead to concrete talks for a nuclear plant bid, a top company official said.

Trading volumes are expected to be thin ⁠due ​to a U.S. public holiday.

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Reporting by Tharuniyaa Lakshmi in Bengaluru; Editing by Eileen Soreng

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