June 27 (Reuters) – Futures for Canada’s main stock index inched higher on Monday on gains in bullion and crude prices, although recession fears weighed on sentiment.
September futures on the S&P/TSX index were up 0.1% at 6:45 a.m. ET.
Gold prices strengthened on news some Western nations were planning to officially ban imports of the metal from Russia for its invasion of Ukraine.
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Meanwhile, U.S. crude prices were up 0.1% a barrel, and Brent crude added 0.2% in a volatile session.
The Toronto Stock Exchange’s S&P/TSX composite index (.GSPTSE) ended 1.93% higher at 19,077.91 on Friday.
Dow e-minis were up 68 points, or 0.22% at 6:45 a.m. ET, while S&P 500 e-minis were up 12 points, or 0.31% and Nasdaq 100 e-minis were up 51.5 points, or 0.42%.
TOP STORIES
Rogers Communications Inc (RCIb.TO), Shaw Communications Inc (SJRb.TO) and Canada’s competition bureau have agreed to start a mediation process to overcome the agency’s antitrust issues posed by Rogers’ C$20 billion ($15.5 billion) acquisition of Shaw, the competition tribunal said on Friday. read more
Finance Minister Chrystia Freeland said on Sunday that Canada still has a path to a “soft landing,” where it could stabilize economically after the blow by the COVID-19 pandemic, without facing a severe recession that many fear, CBC News reported. read more
ANALYST RESEARCH HIGHLIGHTS
Ascot Resources Ltd (AOT.TO): CIBC cuts to “neutral” from “outperform”
Cardinal Energy Ltd (Alberta) (CJ.TO): CIBC initiates coverage with “neutral” rating
Equinox Gold Corp (EQX.TO): CIBC cuts to “underperform” from “neutral”
COMMODITIES AT 6:45 a.m. ET
Gold futures : $1836.4; +0.51%
US crude : $107.7; +0.1%
Brent crude : $113.41; +0.26%
U.S. ECONOMIC DATA DUE ON MONDAY
0830 Durable goods for May : Expected 0.0%; Prior 0.5%
0830 Durables ex-transport for May: Expected 0.3%; Prior 0.4%
0830 Durables ex-defense mm for May : Prior 0.3%
0830 Nondefense cap ex-air for May : Prior 0.4%
1000 Pending Homes Index for May : Prior 99.3
1000 Pending sales change mm for May : Expected -4.0%; Prior -3.9%
1030 Dallas Fed Manufacturing Business Index for Jun : Prior -7.30
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($1= C$1.29)
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Reporting by Amal S in Bengaluru; Editing by Sriraj Kalluvila
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