Feb 27 (Reuters) - Futures for Canada's main stock index
rose on Thursday, bolstered by the country's top lender Royal
Bank of Canada's ( RY ) strong quarterly results and positive momentum
from U.S. markets.
March futures on the S&P/TSX index were up 0.4% at
7.00 a.m. ET (1200 GMT).
Royal Bank of Canada ( RY ) reported a higher first-quarter
profit on Thursday, helped by strong performance in its wealth
management unit.
Other smaller peers Bank of Montreal ( BNKD ), Bank of Nova
Scotia ( BNS ) and National Bank of Canada ( NTIOF ) also
exceeded profit expectations earlier this week, similarly
benefiting from strong wealth management revenues.
The top banks delivered positive earnings, aided by the Bank
of Canada's rate cuts, while a favorable business stance in the
U.S., a crucial market for Canadian lenders, further boosted
sentiments.
Wall Street futures gained ground as AI giant Nvidia's
upbeat forecast eased industry demand concerns, while markets
assessed the impact of the Trump administration's latest trade
threats.
U.S. President Donald Trump suggested Wednesday another
month-long delay on new tariffs for Mexican and Canadian
imports, potentially taking effect April 2. He also proposed a
25% "reciprocal" tariff on European automobiles and other goods.
In commodities, gold prices fell over 1% to its
lowest level in more than a week, as the U.S. dollar firmed.
Meanwhile, oil prices rebounded as supply
concerns resurfaced after Trump revoked a licence granted to
U.S. oil major Chevron ( CVX ) to operate in Venezuela.
The Toronto Stock Exchange's S&P/TSX composite index
extended its winning streak to three days on Wednesday.
Looking ahead, investors will seek cues from Friday's U.S.
Personal Consumption Expenditure data, the Federal Reserve's
preferred inflation measure, to inform their expectations on
monetary policy for the world's largest economy.
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