July 10 (Reuters) - Futures tracking Canada's blue-chip
stock index edged higher on Friday as investors assessed Middle
East tensions and awaited the June jobs report for insights on
the economy and the Bank of Canada's monetary policy path.
September contracts tracking the resources-heavy S&P/TSX
Composite index were up 0.2% by 6:16 a.m. ET.
* Eyes were on Canada's June jobs report, due at 08:30 a.m.
ET, which could offer cues on the Bank of Canada's interest rate
outlook.
* Traders largely expect the central bank to keep rates
unchanged this year, according to LSEG data, with the next
policy decision scheduled for July 15.
* Oil prices were marginally lower on Friday after slipping
in the previous session. Brent crude futures traded
around $76.18 per barrel, while West Texas Intermediate crude
futures dropped 0.3% to $71.83.
* The Canadian benchmark index is set to decline about 0.2%
for the week, if losses hold. The index had posted weekly gains
for the last two weeks.
* Precious metals were also headed for weekly losses, with
spot gold down 0.4% and silver falling 0.8%. The
rise in demand for safe havens amid escalating Middle East
tensions boosted mining stocks in the previous session, lifting
the TSX.
* In company news, industrial valve maker Velan ( VLNSF )
posted an adjusted net loss in the first quarter as lower
volumes and higher provisions hit profitability.
* On the trade front, Prime Minister Mark Carney told a
televised business forum that Saudi Arabia could help Canadian
mining firms develop. He also met Amin Nasser, head of state oil
giant Saudi Aramco, for talks deepening cooperation.
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