Canada Stocks: TSX futures set to extend gains as global markets rally

Nuvei

09/01/2023 12:20

Jan 9 (Reuters) - Futures for Canada's main stock index
were set to open higher on Monday as investors clung to hopes of
lower rate hikes from the world's largest economy, while strong
commodity prices further lifted sentiment.
    March futures on the S&P/TSX index  SXFc1  rose 0.2% by 0708
a.m. ET.
    Global markets extended gains, bucking the Federal Reserve's
rate hike rhetoric after U.S. jobs data on Friday raised hopes
that the wage-inflation spiral was showing signs of slowing.
 MKTS/GLOB 
    Piling onto the optimism was the reopening of China's COVID
borders on Sunday, stoking hopes of demand recovery for crude
oil, precious and base metals in the top consumer.  O/R   MET/L 
 GOL/ 
    The Toronto Stock Exchange's S&P/TSX composite index
 .GSPTSE  ended 1.6% higher on Friday, notching its biggest gain
in eight weeks on data that showed wage pressures were cooling
domestically.  .TO 
    Among stock news, First Quantum  FM.TO  said that it would
suspend many jobs at its operations in Panama if the government
forces the metal miner to halt operations during a contract
dispute.
    Nuvei Corp  NVEI.TO  agreed to buy U.S. payments technology
platform Paya Holdings Inc  PAYA.O  for $1.3 billion, as the
fintech firm seeks to expand its footprint in the U.S.
 urn:newsml:reuters.com:*:nL4N33U1VN
    Cannabis-lifestyle manufacturer Tilray Brands  TLRY.TO 
reported a second-quarter loss, which was at par with analyst
expectations.
    COMMODITIES AT 07:08 a.m. ET 
    Gold futures  GCc2 : $1,127.7; +0.4%  GOL/ 
    US crude  CLc1 : $76.26; +3.44%  O/R 
    Brent crude  LCOc1 : $81.07; +3.21%  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 
 (C$1=$0.7473)
 (Reporting by Johann M Cherian and Shristi Achar in Bengaluru;
Editing by Shailesh Kuber)
 ((johann.mcherian@thomsonreuters.com;))