Canada Stocks: TSX futures tick higher as investors await U.S. inflation data

Aritzia

11/01/2024 12:22

Jan 11 (Reuters) - Futures for Canada's main stock index
nudged higher on Thursday as energy and metal prices climbed in
the run up to U.S. inflation data, due later today, that would
shape expectations for how soon the U.S. Federal Reserve may
start cutting interest rates.
    March futures on the S&P/TSX index  SXFcv1  were up 0.2% at
6:55 a.m. ET (11:55 GMT), in line with their Wall Street
counterparts.
    The December consumer price index (CPI) report is due at
8:30 a.m. ET (1330 GMT) and will test investor expectations that
the Fed could lower borrowing costs in March. Some policymakers
in recent days have pushed back against early rate cuts.
    Energy shares, which have lagged other sectors this week,
were in focus as oil prices rose on concerns of the conflict in
the Middle East escalating.  O/R 
    Prices of gold and base metals also advanced on a softer
dollar.  MET/L   GOL/ 
    The Toronto Stock Exchange's S&P/TSX composite index
 .GSPTSE  is hovering just below a 20-month high hit earlier
this week, with strength in the technology sector aiding gains.
    Investors are also awaiting results from major U.S. banks
that will kick off the fourth-quarter earnings season on Friday.
    In company news, Thomson Reuters  TRI.TO , the parent
company of the Reuters news agency said on Thursday it has
offered to buy Swedish e-invoicing and tax solutions company
Pagero  PAGERO.ST  for 6.4 billion crowns (about $627 million),
topping an earlier offer from U.S. tax technology firm Vertex
 VERX.O .
     The Panama unit of Canadian miner First Quantum Minerals
 FM.TO  said on Wednesday that it will present the first phase
of its mine preservation plan to government officials on Jan 16,
according to a statement.
    Canadian fashion company Aritzia  ATZ.TO  reported its
third-quarter results on Wednesday after the bell, beating
analysts' expectations. 
    
    
    
    

    COMMODITIES AT 6:55 a.m. ET
    Gold futures  GCc2 : $2,038.4; +0.5%  GOL/ 
    US crude  CLc1 : $72.74; +1.9%  O/R 
    Brent crude  LCOc1 : $78.21; +1.8%  O/R 
   

 (Reporting by Amruta Khandekar and Purvi Agarwal in Bengaluru;
Editing by Tasim Zahid)
 ((Amruta.Khandekar@thomsonreuters.com))