Jan 2 (Reuters) - Futures tied to Canada's main equity

index kicked off 2026 on a positive note on Friday, supported by

rebounding precious metal prices as geopolitical tensions and

U.S. rate-cut hopes boosted appetite for ‌bullion.

March futures on the S&P/TSX index were up 0.7% as

of 6:53 ​a.m. ET.

The benchmark TSX ended 2025 with its best ‍annual

performance since 2009 as metal prices soared, ⁠closing almost

29% higher ⁠and beating major U.S. stock indexes. The materials

sub-index doubled in value ‌over the year, while the ​heavyweight

financial sector provided additional support following robust

earnings reports from Canada's "Big Six" banks.

A year-end pullback in ⁠precious metals and falling miners'

shares ‍saw ​the index decline for a fourth consecutive day on

Wednesday, with the TSX still on track for its ‍worst weekly

performance since early November.

However, Gold prices bounced back on Friday, rising

2%, while silver advanced 4.6%.

Oil steadied as investors weighed oversupply

concerns against geopolitical risks, including the war in

Ukraine and uncertainty around Venezuelan exports.

Investors also await S&P ​Global ‍manufacturing PMI data,

scheduled for release at 9:30 a.m. ET. The previous report

showed that Canada's manufacturing sector contracted ​at an

accelerated pace in November, with trade uncertainty continuing

to hamper output and new orders.

In corporate updates, Capstone Copper ( CSCCF ) said that a union

representing about half the workers at its Mantoverde copper and

gold mine in Chile, roughly 22% of its total workforce, ​will

launch a strike on Friday.

FOR CANADIAN MARKETS NEWS, CLICK ON CODES:

TSX market report

Canadian dollar and bonds report

Reuters global stocks poll for Canada

Canadian ‍markets directory