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CANADA STOCKS-TSX futures rise after RBC's upbeat quarterly results
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CANADA STOCKS-TSX futures rise after RBC's upbeat quarterly results
Feb 27, 2025 4:59 AM

Feb 27 (Reuters) - Futures for Canada's main stock index

rose on Thursday, bolstered by the country's top lender Royal

Bank of Canada's ( RY ) strong quarterly results and positive momentum

from U.S. markets.

March futures on the S&P/TSX index were up 0.4% at

7.00 a.m. ET (1200 GMT).

Royal Bank of Canada ( RY ) reported a higher first-quarter

profit on Thursday, helped by strong performance in its wealth

management unit.

Other smaller peers Bank of Montreal ( BNKD ), Bank of Nova

Scotia ( BNS ) and National Bank of Canada ( NTIOF ) also

exceeded profit expectations earlier this week, similarly

benefiting from strong wealth management revenues.

The top banks delivered positive earnings, aided by the Bank

of Canada's rate cuts, while a favorable business stance in the

U.S., a crucial market for Canadian lenders, further boosted

sentiments.

Wall Street futures gained ground as AI giant Nvidia's

upbeat forecast eased industry demand concerns, while markets

assessed the impact of the Trump administration's latest trade

threats.

U.S. President Donald Trump suggested Wednesday another

month-long delay on new tariffs for Mexican and Canadian

imports, potentially taking effect April 2. He also proposed a

25% "reciprocal" tariff on European automobiles and other goods.

In commodities, gold prices fell over 1% to its

lowest level in more than a week, as the U.S. dollar firmed.

Meanwhile, oil prices rebounded as supply

concerns resurfaced after Trump revoked a licence granted to

U.S. oil major Chevron ( CVX ) to operate in Venezuela.

The Toronto Stock Exchange's S&P/TSX composite index

extended its winning streak to three days on Wednesday.

Looking ahead, investors will seek cues from Friday's U.S.

Personal Consumption Expenditure data, the Federal Reserve's

preferred inflation measure, to inform their expectations on

monetary policy for the world's largest economy.

FOR CANADIAN MARKETS NEWS, CLICK ON CODES:

TSX market report

Canadian dollar and bonds report

Reuters global stocks poll for Canada

Canadian markets directory

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