Sept 25 (Reuters) - Futures tracking Canada's blue-chip stocks rose on Friday as investors took comfort from easing oil prices and small gains in precious metals, while elevated bond yields kept gains in check.
December futures on the S&P/TSX index were up 0.2% at 6:00 a.m. ET (1000 GMT).
Brent crude prices eased over 1% on expectations that negotiations between Iran and US mediators could result in a meaningful conclusion to the six-month-old conflict.
However, at above $100-a-barrel, it was at levels that could spur inflation and weigh on economic growth.
Worries about the global economy have pushed bond yields to multi-year highs worldwide, with the US benchmark 10-year Treasury note above 5%.
Its Canadian equivalent climbed to 3.998%, highest in more than 3 years.
Traders see a 65% chance that the Bank of Canada will hike interest rates by at least 25 basis points during the October meeting to combat inflation, data compiled by LSEG showed.
Mining stocks are likely to be in focus as precious metal prices attempt a comeback, against the backdrop of elevated bond yields.
The benchmark index (.GSPTSE), is set for small weekly losses, with the materials sector (.GSPTTMT), among top decliners.
On the flip side, the tech sector (.SPTTTK), is set for weekly gains of 8%, marking its biggest weekly rise since early August, tracking Wall Street's AI optimism.
TSX (.GSPTSE), posted its lowest closing level since September 16 on Thursday, with metal mining shares (.GSPTTMT), stocks among the biggest drags.
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report
Canadian dollar and bonds report CA/
Reuters global stocks poll for Canada
Canadian markets directory
Reporting by Darshan Kumar in Bengaluru; Editing by Sahal Muhammed
