Canada Stocks: TSX futures edge up ahead of US inflation data

Sun Life Financial

13/02/2025 12:13

Feb 13 (Reuters) - Futures for Canada's main stock index
edged up on Thursday, supported by strength in precious metals,
while investors await U.S. producer price data which could
cement or dilute rate-cut prospects by the U.S. Federal Reserve.
     March futures on the S&P/TSX index  SXFcv1  were up 0.1% at
6.47 a.m. ET (11.47 GMT).
    Gold  XAU=  prices gain as persisting trade war concerns
kept the yellow metal in demand after U.S. President Donald
Trump reiterated his plans to impose reciprocal tariffs. Silver
prices also rose in the day.  GOL/ 
    Meanwhile, oil prices  LCOc1   CLc1  extended their recent
fall as the hopes for a Russia-Ukraine peace deal bolstered the
possibility of an easing of Russian oil sanctions that have
disrupted supply flows.  O/R 
    On Wednesday, Trump made the first big diplomatic move to
end the war in Ukraine, a conflict that has kept oil prices high
due to concerns about global supplies.
    Investors are also focused on the upcoming U.S. producer
price index report for January, expected at 8:30 a.m. ET.
    A consumer price index reading on Wednesday showed the
highest price increase in nearly a year and a half for January,
reducing the likelihood of a Federal Reserve rate cut this year
amid concerns over the Trump administration's trade policies.
    The hotter-than-expected U.S. inflation data dragged down
the Toronto Stock Exchange's S&P/TSX composite index on
Wednesday, with a drop in oil prices impacting energy shares.
    In corporate news, Sun Life Financial  SLF.TO  reported a
fall in its fourth-quarter profit on Wednesday, as weakness in
U.S. business took away gains made in Asian markets.
    
    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 

 (Reporting by Ragini Mathur in Bengaluru; Editing by Vijay
Kishore)
 ((Ragini.Mathur@thomsonreuters.com;))