Dec 13 (Reuters) - Futures linked to Canada's main stock
index rose on Friday, lifted by crude prices, after the
benchmark index saw a wider selloff in the previous session.
December futures on the S&P/TSX index were up 0.22%
at 6:04 a.m. ET (11:04 GMT).
The composite index ended nearly 1% lower on
Thursday, weighed down by resource shares and ongoing concerns
about domestic economic growth prospects.
The Bank of Canada delivered a 50-basis-point interest rate
cut on Wednesday, marking the first time since the COVID-19
outbreak that it has implemented consecutive half-point cuts.
However, the move sparked fears about weaker growth amid
looming tariff threats by U.S. President-elect Donald Trump,
considering that the United States is Canada's biggest trading
partner.
In commodities, oil prices rose, heading for their first
weekly rise since the end of November, as additional sanctions
on Iran and Russia ratcheted up supply worries.
Gold prices dipped but were set for a weekly rise ahead of
the U.S. Federal Reserve meeting next week. Meanwhile, copper
prices remained stable but were facing weekly losses on robust
U.S. dollar and uncertainty over China's stimulus measures.
Among economic data, Canada's factory sales numbers are due
on the day, along with U.S. import prices figure.
Stateside, Wall Street futures rose on Friday, with those
linked to the tech-heavy Nasdaq 100 in the lead, after an upbeat
forecast from chipmaker Broadcom.
In corporate news, the Fed said on Thursday it had approved
an application by Scotiabank to buy up to 14.99% of the
voting shares in U.S. regional lender KeyCorp ( KEY ), as the
Canadian bank looks to boost its exposure to developed markets.
COMMODITIES
Gold: $2,667.93; -0.5%
US crude: $70.78; +1.09%
Brent crude: $74.13; +0.98%
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($1 = 1.4221 Canadian dollars)