TSX futures rise as softer oil prices, bond yields lift risk appetite

Kitco Media
By Reuters
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Reuters
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Oct 6 (Reuters) - Futures tracking Canada's benchmark stock index rose on Tuesday as easing oil prices and a pullback ​in global bond yields lifted risk appetite, ‌though weaker metal prices capped gains.

December futures for the S&P/TSX index were up 0.42% at 06:03 a.m. ET (1003 GMT).

Oil prices fell ​as resilient Middle Eastern crude exports and ​a G7 emergency stockpile release eased supply concerns, ⁠with Brent Crude dipping below $100 a barrel.

The yield ​on the US benchmark 10-year Treasury note dipped after ​hitting a 24-year high on Monday, offering some relief to investors.

However, concerns over persistent inflation and rising government debt are keeping bond and ​equity markets on edge.

Gold prices eased on Tuesday, ​slightly pressuring sentiment in the commodity-heavy Canadian market.

Canada's main stock index (.GSPTSE), ‌edged ⁠higher in the previous session as technology (.SPTTTK), gains offset declines in energy (.SPTTEN), and financials (.SPTTFS).

Among corporate developments, vitamins and supplements maker Jamieson Wellness (JWEL.TO), received final court approval ​for its ​pending acquisition ⁠by Kirin Holdings.

On the political front, a separatist party narrowly won Quebec's election on Monday, ​a result that could make it tougher ​for ⁠Prime Minister Mark Carney to maintain national unity amid a trade deal dispute with the US.

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Reporting by Avinash P ​and Anand Gopal in Bengaluru; Editing by Leroy Leo

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