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CANADA STOCKS-TSX futures edge higher on bullion strength
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CANADA STOCKS-TSX futures edge higher on bullion strength
Mar 26, 2024 5:07 AM

March 26 (Reuters) - Futures pointed to a higher open

for Canada's resources-heavy stock index on Tuesday, helped by a

rise in precious metal prices though softer copper kept a lid on

gains.

Futures on the S&P/TSX index were up 0.3% at 7:17

a.m. ET (1117 GMT).

Prices of gold and silver rose as a weaker U.S. dollar made

the metals cheaper for holders of other currencies, while the

appeal for safe-haven assets increased ahead of a crucial U.S.

inflation data print later in the week.

Investors look forward to the February U.S. personal

consumption expenditure data, the Federal Reserve's preferred

inflation gauge, on Friday, which could help determine the

outlook for interest rate cuts expected later in the year.

Dampening risk appetite, contracts tracking most base metals

slipped, with copper erasing most of its gains from the past two

weeks, on weaker demand prospects as the currency of the world's

largest metals consumer, China, weakened.

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

ended lower on Monday, pressured by losses in

industrials, but the decline was limited as recent strength in

corporate earnings and the prospect of rate cuts helped underpin

investor sentiment.

Brokerage RBC downgraded oil explorer Athabasca Oil ( ATHOF )

to "sector perform" from "outperform".

Enbridge ( ENB ) said the pipeline operator would form a

venture with WhiteWater/I Squared Capital and MPLX ( MPLX ) to

operate natural gas pipeline and storage assets connecting

Permian Basin supplies to the U.S. Gulf Coast.

Gaming firm Bragg Gaming ( BRAG ) missed quarterly revenue

expectations and posted a net loss.

COMMODITIES AT 7:17 a.m. ET

Gold futures: $2,199.1; +1.0%

US crude: $82.05; +0.1%

Brent crude: $86.78; flat

U.S. ECONOMIC DATA DUE ON TUESDAY

Feb. Durable goods data due at 8:30 a.m. ET

March Consumer confidence data due at 10:00 a.m. ET

FOR CANADIAN MARKETS NEWS, CLICK ON CODES:

TSX market report

Canadian dollar and bonds report

Reuters global stocks poll for Canada

Canadian markets directory

($1= C$1.3563)

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