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
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($1= C$1.3563)