CANADA STOCKS-TSX futures flat as upbeat US tech earnings offset by commodity dip
Oct 31 (Reuters) - Futures linked to Canada's main stock index were flat on Friday, as positive sentiment from U.S. big tech earnings was offset by declines in commodity prices.
December futures on the S&P/TSX index SXFcv1 were up 0.02% at 06:03 a.m. ET (1003 GMT).
Wall Street found support from encouraging forecasts by tech giants Apple AAPL.O and Amazon AMZN.O, which helped the markets recover after Thursday's sharp decline.
Gains in Canadian futures were capped due to dipping commodity prices as gold XAU= and copper both retreated amid U.S. dollar strength, while oil prices CLc1, LCOc1 eased following weak China data and rising global production that overshadowed the impact of Western sanctions on Russian exports. GOL/ MET/L O/R
Meanwhile, Canadian Prime Minister Mark Carney met with Chinese President Xi Jinping to restart a broad engagement with Beijing after years of strained relations.
Embroiled in a bitter trade dispute with the U.S., Canada's biggest trading partner, Carney told a gathering of executives running parallel to the main summit on Friday that Ottawa aimed to double its non-U.S. exports over the next decade.
The Toronto Stock Exchange's composite index .GSPTSE edged up on Thursday as higher gold prices boosted metal-mining shares and investors took stock of the Bank of Canada's move to cut interest rates to a three-year low.
The benchmark index remains on track for a 0.5% monthly gain, which would mark its sixth consecutive monthly advance - a streak not seen since 2021.
However, the index is heading toward a 0.6% weekly decline, with consumer staples and real estate sectors leading the losses.
In corporate developments, Mexican precious metals miner Fresnillo FRES.L has agreed to buy Canada's Probe Gold PRB.TO for C$780 million ($556 million) in cash, the companies said on Friday.
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