April 18 (Reuters) - Futures for Canada's main stock
index were muted on Thursday as gains in metal prices were
offset by declines in oil, while investors awaited fresh cues on
the timing of interest rate cuts by central banks.
June futures on the S&P/TSX index were up 0.1% at
6:40 a.m. ET (10:40 GMT).
Spot gold prices climbed as risks of a widening
Middle East conflict raised its safe-haven appeal, overshadowing
pressures from prospects of higher-for-longer U.S. interest
rates.
London copper hit its highest in 22 months, supported by a
softer dollar.
On the other hand, oil prices extended losses as investors
switched focus to signs that a wider conflict in the key Middle
East could be avoided, as well as demand concerns.
Meanwhile, investors awaited fresh clues to gauge when the
central banks' would commence their easing cycle, both at home
and in the United States.
Data-wise, a weekly reading of jobless claims is due in the
U.S. at 8:30 a.m. ET.
The Toronto Stock Exchange's S&P/TSX composite index
ended 0.1% higher on Wednesday, snapping a
five-session losing streak, lifted by mining stocks.
Gains on the index were contained after the Canadian federal
budget proposed raising a tax on investment profits, with the
measure coming into effect in June.
In corporate news, TC Energy ( TRP ) said on Wednesday it
does not anticipate any service interruptions from the rupture
of its NGTL gas pipeline in Alberta, which caused a wildfire on
Tuesday.
In the U.S., corporate earnings momentum continues with
several regional financial institutions set to report their
quarterly numbers before the opening bell.
COMMODITIES AT 6:40 a.m. ET
Gold futures: $2,384.7; +0.4%
US crude: $81.84; -1.0%
Brent crude: $86.34; -1.1%