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CANADA STOCKS-TSX futures inch lower after Christmas break

ReutersDec 27, 2024 11:56 AM

- Futures linked to Canada's main stock index dipped on Friday, tracking Wall Street peers, as investors returned after a two-day Christmas break to the end of a quieter week.

March futures on the S&P/TSX index SXFcv1 were down 0.09% at 6:10 a.m. ET (11:10 GMT).

Wall Street futures eased on Friday at the end of an upbeat holiday-shortened week for the main indexes. .N

Among commodities, gold prices XAU= eased but were set for a weekly gain as investors gravitated towards safe-haven assets amid political uncertainty in the Middle East. GOL/

Oil LCOc1, CLc1 rose slightly and was on track for a weekly gain, spurred by expectations of a stimulus-driven economic recovery in China and by forecasts of lower U.S. inventories. O/R

The composite index .GSPTSE ended higher on Tuesday in thin trading on Christmas Eve.

Meanwhile, in a bid to address the looming threat of U.S. tariffs, Canada's new Finance Minister Dominic LeBlanc and Foreign Affairs Minister Melanie Joly will meet aides to U.S. President-elect Donald Trump in Florida on Friday.

Canada is the world's fourth-largest oil producer and the sixth-largest natural gas producer. The vast majority of its 4 million barrels per day of crude exports go to the U.S.

Trump has threatened a 25% tariff on imports from Canada, until the country stops drugs and migrants crossing its border with the U.S.

In corporate news, silver ore mine operator Sierra Metals SMT.TO said on Thursday that majority of its shareholders rejected a takeover bid from Peru-based Alpayana as inadequate.

FOR CANADIAN MARKETS NEWS, CLICK ON CODES:

TSX market report .TO

Canadian dollar and bonds report CAD/ CA/

Reuters global stocks poll for Canada EQUITYPOLL1, EPOLL/CA

Canadian markets directory CANADA


($1 = 1.4401 Canadian dollars)

(Reporting by Ragini Mathur; Editing by Sahal Muhammed)

((Ragini.Mathur@thomsonreuters.com;))

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