Aug 7 (Reuters) - Futures for Canada's main stock index
on Thursday edged higher with strong corporate earnings boosting
sentiment, while investors also weighed the impact of U.S.
tariff implementation.
Futures on the S&P/TSX index rose 0.6% by 06:15
a.m. ET (1015 GMT), after the TSX hit a fresh record high on
Wednesday.
U.S. President Donald Trump's higher tariff rates kicked in,
with Canada facing a 35% rate after failing to reach a trade
agreement ahead of the deadline.
Corporate earnings continued in full swing a day after
e-commerce firm Shopify ( SHOP ) became the index's most
valuable publicly traded company after delivering an upbeat
revenue forecast.
On the day, Canadian Natural Resources ( CNQ ) surpassed
expectations for second-quarter profit on higher oil and natural
gas production.
Space firm MDA beat second-quarter revenue
estimates driven by higher work volumes in the Satellite Systems
business.
Maple Leaf Foods ( MLFNF ) raised its fiscal-year outlook and
beat second-quarter analysts' estimates for revenue and profit.
Data on Wednesday showed that the downturn in Canada's
services economy eased in July with firms more optimistic about
the outlook for activity, according to S&P Global's Canada
services PMI.
In commodities, gold prices edged higher on
safe-haven demand, driven by U.S. tariffs, while copper
and other base metals rose on U.S.-China trade deal hopes.
Oil prices steadied on a potential Trump
meeting with Russian President Vladimir Putin in the coming
days.
Toronto's TSX index climbed to a new record high
on Wednesday, boosted by Shopify ( SHOP ), with technology shares leading
gains.
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report
Canadian dollar and bonds report
Reuters global stocks poll for Canada
Canadian markets directory
(Reporting by Twesha Dikshit)