Dec 13 (Reuters) - Futures linked to Canada's main stock index rose on Friday, lifted by crude prices, after the benchmark index saw a wider selloff in the previous session.
December futures on the S&P/TSX index SXFcv1 were up 0.22% at 6:04 a.m. ET (11:04 GMT).
The composite index .GSPTSE ended nearly 1% lower on Thursday, weighed down by resource shares and ongoing concerns about domestic economic growth prospects.
The Bank of Canada delivered a 50-basis-point interest rate cut on Wednesday, marking the first time since the COVID-19 outbreak that it has implemented consecutive half-point cuts.
However, the move sparked fears about weaker growth amid looming tariff threats by U.S. President-elect Donald Trump, considering that the United States is Canada's biggest trading partner.
In commodities, oil prices rose, heading for their first weekly rise since the end of November, as additional sanctions on Iran and Russia ratcheted up supply worries. O/R
Gold prices dipped but were set for a weekly rise ahead of the U.S. Federal Reserve meeting next week. Meanwhile, copper prices remained stable but were facing weekly losses on robust U.S. dollar and uncertainty over China's stimulus measures. GOL/ MET/L
Among economic data, Canada's factory sales numbers are due on the day, along with U.S. import prices figure.
Stateside, Wall Street futures rose on Friday, with those linked to the tech-heavy Nasdaq 100 in the lead, after an upbeat forecast from chipmaker Broadcom. .N
In corporate news, the Fed said on Thursday it had approved an application by Scotiabank BNS.TO to buy up to 14.99% of the voting shares in U.S. regional lender KeyCorp KEY.N, as the Canadian bank looks to boost its exposure to developed markets.
COMMODITIES
Gold XAU=: $2,667.93; -0.5% GOL/
US crude CLc1: $70.78; +1.09% O/R
Brent crude LCOc1: $74.13; +0.98% O/R
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report .TO
Canadian dollar and bonds report CAD/ CA/
Reuters global stocks poll for Canada EQUITYPOLL1, EPOLL/CA
Canadian markets directory CANADA
($1 = 1.4221 Canadian dollars)
(Reporting by Ragini Mathur; Editing by Vijay Kishore)
((Ragini.Mathur@thomsonreuters.com;))
Comments