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CANADA STOCKS-TSX futures flat ahead of retail sales data
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CANADA STOCKS-TSX futures flat ahead of retail sales data
Nov 3, 2024 11:26 AM

Oct 25 (Reuters) - Futures tied to Canada's main stock

index were flat on Friday, as a rise in crude prices was

countered by losses in metals, while investors awaited domestic

economic data later in the day.

December futures on the S&P/TSX index were up 0.01%

at 6:10 a.m. ET (10:10 GMT).

Canada's energy sector could benefit from higher oil prices

as tensions in the Middle East and a restart in Gaza ceasefire

talks in the coming days kept traders on edge.

The materials sector could grab the limelight as gold

prices, though slipping, were set for a weekly gain due to

geopolitical tensions driving demand. Copper prices dipped as

China's stimulus measures failed to assuage demand worries.

The composite index fell for the fourth straight

day on Thursday, strained by declines in utilities and metal

mining shares, pushing it closer to a weekly loss.

Despite the Bank of Canada's highly anticipated 50 basis

points rate cut on Wednesday, recent increases in benchmark

yields have generally led to a negative reaction in Toronto

stocks this week.

Domestic investors will focus on Canada's retail sales data

scheduled for later in the day, along with the Bank of Canada

Governor Tiff Macklem's address to journalists at the sides of

the IMF meeting.

South of the border, Wall Street futures edged higher on

Friday as a dip in Treasury yields eased some pressure on

equities, but the major indexes were still poised for weekly

losses.

In corporate news, the West African country Mali accused

Barrick Gold ( GOLD ) of failing to abide by commitments made in

a recent agreement, though the Canadian miner denied the

allegations.

COMMODITIES

Gold: $2,720; -0.57%

US crude: $70.54; +0.5%

Brent crude: $74.74; +0.5%

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 = 1.3846 Canadian dollars)

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