Sept 23 (Reuters) - Futures tied to Canada's main stock
index edged higher on Tuesday, a day after gold miners lifted
the TSX to a fresh record high.
Futures for the S&P/TSX index added 0.2% to
1,774.40 points by 6:07 a.m. ET (1007 GMT), with the benchmark
index having been on a record rally this year.
Data showed on Monday that prices of raw materials fell 0.6%
in August, while producer prices rose 0.5%, driven by higher
prices of chemicals as well as meat, fish and poultry.
Meanwhile, Canada's banking regulator said it wants the
country's biggest financial institutions to take "smart" risks
to expand their lending and that it is open to capital rules
adjustments to facilitate that goal.
The Bank of Canada last Wednesday cut its benchmark interest
rate by a quarter point, focusing on a weakening labour market
and saying it was less worried about underlying inflationary
pressures.
Canada's top six banks, which control almost 90% of the
market, hold excess capital of about C$70 billion ($50.6
billion) combined, according to Reuters calculations, after
meeting the 11.5% requirement.
In corporate news, TD Bank named JPMorgan veteran
Jon Rasmussen as its U.S. chief compliance officer, according to
a memo seen by Reuters.
The Trump administration was re-evaluating Lithium Americas' ( LAC )
$2.3 billion loan for the development of a Nevada
lithium deposit, a Bloomberg report said. American-listed shares
of the company dropped almost 4% in premarket trading.
In commodities, gold hit a fresh record high on bets
of further U.S. rate cuts, while copper edged higher on
supply concerns. Oil prices rose.
($1 = 1.3822 Canadian dollars)
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