Aug 27 (Reuters) - Futures tracking Canada's main stock
index edged higher on Wednesday as investors assessed strong
earnings from top domestic lenders, including Royal Bank of
Canada ( RY ).
Canada's largest bank reported a rise in third-quarter
profit on Wednesday, helped by strength in its wealth management
business.
National Bank of Canada ( NTIOF ) also posted an increase in
third-quarter profit.
Futures on the S&P/TSX index rose 0.16% by 06:39
a.m. ET (1039 GMT). The composite index had risen 0.6%
on Tuesday, riding the wave of robust earnings from Bank of
Montreal ( BNKD ) and Bank of Nova Scotia ( BNS ).
The country's third- and fourth-largest banks beat
third-quarter earnings estimates, as the lenders indicated the
tariff-related risks were less than feared, while maintaining
caution. The banks also reported smaller-than-expected loan loss
provisions.
Meanwhile, Canada Goose's, controlling
shareholder Bain Capital has received bids to take the luxury
goods maker private at a valuation of about $1.4 billion, CNBC
reported, citing people familiar with the matter.
Oil prices inched lower on Wednesday after falling in the
previous session, with investors monitoring developments in the
Ukraine war.
Gold prices slipped against a firm dollar, but renewed
concerns about the autonomy of the U.S. Federal Reserve kept
overall declines in check.
U.S. President Donald Trump said he was removing Federal
Reserve Governor Lisa Cook over alleged improprieties in
obtaining mortgage loans. Cook said she won't resign and that
Trump has no authority to fire her.
Global markets also refused to make outsized moves ahead of
an earnings report from Nvidia ( NVDA ) that could dictate Wall
Street's tech-driven moves in the near term. The AI bellwether
is scheduled to report results after the U.S. market closes.
Quarterly earnings from Canada's Dollarama ( DLMAF ) will
also be in focus later in the day.
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($1 = 1.3817 Canadian dollars)