Canada Stocks: Rising oil prices buoy TSX futures

Royal Bank of Canada

03/12/2025 11:47

Dec 3 (Reuters) - Canada's stock index futures rose on Wednesday, helped by higher crude oil prices, while investors assessed earnings from Royal Bank of Canada and National Bank of Canada.

Futures tracking the S&P/TSX index SXFcv1 edged up 0.23% by 06:21 a.m. ET.

The Canadian benchmark .GSPTSE fell 0.2% on Tuesday, extending declines as resource-linked shares outweighed Bank of Nova Scotia's BNS.TO robust earnings and expectations of a possible U.S. rate cut in December.

On Wednesday, Royal Bank of Canada RY.TO reported a rise in fourth-quarter profit, as the lender was helped by strength in its capital markets segment. National Bank of Canada NA.TO also reported a rise in fourth-quarter profit, helped by a robust performance in its wealth management segments.

Higher commodity prices and hopes of U.S. monetary policy easing have been among the major drivers behind the TSX's run to record highs in recent days even as U.S. stocks struggled on concerns about an AI bubble and the impact of U.S. tariffs.

Precious metal miners will be in focus as silver XAG= touched a record high before slipping. GOL/

Oil prices LCOc1, CLc1 rose more than 1% as investors believed Russia-Ukraine peace talks are unlikely to immediately remove sanctions on Russian crude. O/R

Canada's labor market report for November is due on Friday, with the economy seen shedding 5,000 jobs last month, as per a Reuters poll of economists. The Bank of Canada is, however, widely seen holding rates next week.

In other corporate news, insurer Manulife Financial MFC.TO announced the pricing of $1 billion senior notes due 2035.

TSX market report .TO

Canadian dollar and bonds report CAD/ CA/

Reuters global stocks poll for Canada EQUITYPOLL1, EPOLL/CA

Canadian markets directory CANADA

 (By Avinash P in Bengaluru; Editing by Sahal Muhammed)

 ((Avinash.P@thomsonreuters.com))