Canada Stocks: Toronto futures tick higher on Middle East optimism; earnings in focus
CANADA STOCKS-Toronto futures tick higher on Middle East optimism; earnings in focus Aug 6 (Reuters) - Futures tracking Canada's main stock index edged higher on Thursday as investors weighed the prospects of a U.S.-Iran peace deal alongside a largely positive slate of corporate earnings.
September futures tracking the S&P/TSX Composite index SXFc1 were up 0.2% at 6:44 a.m. ET, following the benchmark's record high on Wednesday.
Canadian Natural Resources CNQ.TO beat second-quarter profit estimates on Thursday, benefiting from higher oil and natural gas production, while AtkinsRéalis ATRL.TO and Quebecor QBRb.TO also posted a rise in quarterly revenue.
Restaurant Brands International QSR.TO beat overall same-store sales growth expectations for the second quarter, helped by resilient demand at its Burger King chain in the U.S.
Miners Lundin Mining LUN.TO and McEwen MUX.TO also reported a rise in second-quarter revenue late on Wednesday.
At least six brokerages hiked price targets for Shopify SHOP.TO after the e-commerce firm forecast quarterly revenue above estimates.
Meanwhile, gold climbed to a seven-week high, as hopes surrounding the re-opening of the Strait of Hormuz eased mounting fears around inflation and higher-for-longer interest rates. GOL/
Spot gold XAU= was up 0.5%, while silver XAG= was down 0.4%.
Oil prices gained as investors remained cautious about the Iran-Oman talks. Brent crude futures LCOc1 traded around $80.31 per barrel, while U.S. West Texas Intermediate futures CLc1 traded at $75.86 a barrel. O/R
On the domestic front, Greater Toronto Area home sales rose in July for a fifth straight month and prices increased, Toronto Regional Real Estate Board data showed on Thursday.
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(Reporting by Sudeshna Ghoshal in Bengaluru; Editing by Jonathan Ananda)
((Sudeshna.Ghoshal@thomsonreuters.com;))