Canada Stocks: TSX to open higher for fifth day on commodity strength

Pet Valu Holdings

30/03/2023 12:26

March 30 (Reuters) - Canada's benchmark stock index was
set to open higher for its fifth consecutive session on
Thursday, as prices of bullion and crude oil futures ticked
higher.
    March futures on the S&P/TSX index  SXFc1  were up 0.7% at
07:06 a.m. ET.
    Crude oil prices rose as a drop in U.S. crude stockpiles and
a halt in exports from Iraq's Kurdistan region offset a
smaller-than-expected cut to Russian supplies.  O/R 
    Also in gains were contracts tied to gold as a weaker dollar
made bullion more attractive to holders of other currencies.
 GOL/ 
    Among stocks, Atco Ltd  ACOx.TO  agreed to transfer
ownership of an unfinished pipeline bogged down in a dispute
with the Mexican state power company, two officials told
Reuters.
    Brokerage CIBC has started coverage of miner Filo Mining
Corp  FIL.TO  with an "outperform" rating and a target price of
C$38.
    TD Securities has started covering Pet Valu Holdings
 PET.TO  with a "buy" rating and a price target of $45.
    On Wednesday, the Toronto Stock Exchange's S&P/TSX composite
index  .GSPTSE  ended 0.9% higher at its highest closing level
in nearly three weeks, helped by gains in energy and technology
shares.  .TO 
    Dow e-minis  1YMcv1  were up 214 points, or 0.65%, at 12:06
a.m. ET, while S&P 500 e-minis  EScv1  were up 25.25 points, or
0.62%, and Nasdaq 100 e-minis  NQcv1  were up 72.75 points, or
0.56%.  .N 
    
    COMMODITIES AT 7:00 a.m. ET 
    Gold futures  GCc2 : $1,978.5; +0.1%  GOL/ 
    US crude  CLc1 : $73.74; +1.06%  O/R 
    Brent crude  LCOc1 : $78.91; +0.8%  O/R 
    
    U.S. ECONOMIC DATA DUE ON THURSDAY
    Initial weekly jobless claims due at 8:30 a.m. ET
    Q4 GDP final due at 8:30 a.m. ET
        
    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 = 1.3553 Canadian dollars)

 (Reporting by Johann M Cherian in Bengaluru; Editing by Krishna
Chandra Eluri)
 ((johann.mcherian@thomsonreuters.com;))