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%
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($1 = 1.3846 Canadian dollars)