Home Commodities Toronto index set to open higher on stronger commodity prices

Toronto index set to open higher on stronger commodity prices

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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

FOR CANADIAN MARKETS NEWS, CLICK ON CODES:

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Canadian dollar and bonds report CA/

Reuters global stocks poll for Canada ,

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($1= C$1.29)

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Reporting by Amal S in Bengaluru; Editing by Sriraj Kalluvila

Our Standards: The Thomson Reuters Trust Principles.

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