Canada Stocks: Gold, oil lift TSX futures as focus shifts to trade deals

George Weston

29/07/2025 12:10

July 29 (Reuters) - Futures tied to Canada's main stock index rose on Tuesday, tracking gains in gold and energy prices, while investors assessed corporate earnings and awaited trade deals with the U.S. ahead of the August 1 tariff deadline.

Futures on the S&P/TSX index SXFcv1 were up 0.5% at 1,638.50 points by 06:18 a.m. ET (1018 GMT). The benchmark closed lower on Monday.

A much-anticipated European Union-U.S. trade agreement was announced on Sunday. However, the initial relief over Europe's 15% levy on exports to the U.S. quickly soured when set against the 1% to 2% that stood before U.S. President Donald Trump took office.

Gold and oil prices edged up as initial euphoria over the U.S.-EU trade truce faded, while copper prices slipped on Tuesday.

Trump also flagged a "world tariff" rate of 15% to 20% on Monday, for countries that were not negotiating a deal, among the highest rates since the Great Depression of the 1930s.

Also on Monday, Prime Minister Mark Carney said Canada-U.S. trade talks were in an intense phase and reiterated that an agreement without any tariffs at all was unlikely.

In corporate news, Canadian retailer George Weston WN.TO reported second-quarter revenue above estimates and announced a stock split.

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 (Reporting by Sanchayaita Roy in Bengaluru; Editing by Vijay Kishore)

 ((Sanchayaita.Roy@thomsonreuters.com;))