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Canada Stocks: Toronto futures little changed as investors assess corporate earnings

CANADA STOCKS-Toronto futures little changed as investors assess corporate earnings

- Futures tracking Canada's blue-chip stocks were muted on Tuesday, as investors assessed corporate earnings and monitored developments in the Middle East conflict.

September futures tracking the resource-heavy S&P/TSX Composite index SXFc1 were flat at 2,102.90 points at 6:22 a.m. ET.


Here are some details:

  • Tech firms and real estate companies, including Celestica CLS.TO and TFI International TFII.TO, beat second-quarter adjusted earnings estimates amid a lineup of results by other companies late on Monday.

  • Meanwhile, oil prices touched more than a one-week low as hopes for a resolution to the U.S.-Iran conflict grew.

  • Brent crude LCOc1 traded around $85.86, down 2.1%, while West Texas Intermediate crude CLc1 slipped 1.8% to $80.52 per barrel. O/R

  • Gold prices also retreated against a firmer dollar, while investors eye the Federal Reserve meeting later this week for clues on the U.S. central bank's decision on interest rates. Investors largely expect rates to be left unchanged this week.

  • Spot gold XAU= fell 1.3%, while silver XAG= dropped 2.1%. GOL

  • In company news, oil and gas exploration firm Tamarack Valley TVE.TO posted a rise in second-quarter revenue on higher oil prices.

  • Focus is also on fresh corporate earnings, with multiple miners and energy firms, including First Quantum FM.TO, Cardinal Energy CJ.TO, set to report quarterly results after the bell.

  • Separately, Brookfield BN.TO has raised around $2 billion from strategic anchor investors, including Saudi Arabia's sovereign wealth fund, for a private equity fund that will invest in companies in the kingdom and wider Middle East.



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


(Reporting by Sudeshna Ghoshal in Bengaluru; Editing by Vijay Kishore)

((Sudeshna.Ghoshal@thomsonreuters.com;))

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