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CANADA STOCKS-TSX futures rise with corporate earnings, tariffs on watch
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CANADA STOCKS-TSX futures rise with corporate earnings, tariffs on watch
Aug 7, 2025 3:48 AM

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)

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