Home Commodities Toronto futures drop on weaker commodity prices

Toronto futures drop on weaker commodity prices

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FILE PHOTO: A sign board displaying Toronto Stock Exchange stock information is seen in Toronto

June futures on the S&P/TSX index were down 1.5% at 6:45 a.m. ET.

Oil prices dropped as a flare-up in COVID-19 cases in Beijing dented hopes of a Chinese demand rebound, while gold retreated from a one-month high scaled earlier in the session as U.S. inflation data lifted Treasury yields and tempered demand for safe-haven bullion.[GOL/] [O/R]

The Toronto Stock Exchange’s S&P/TSX composite index ended down 1.4% on Friday at 20,274.82, its lowest closing level since May 20. [.TO]

Dow e-minis were down 549 points, or 1.75%, at 6:46 a.m. ET, while S&P 500 e-minis were down 83.75 points, or 2.15% and Nasdaq 100 e-minis were down 315.75 points, or 2.67%.[.N]

TOP STORIES [TOP/CAN]

Rogers Communications Inc’s Loretta Rogers who served as a corporate director for over fifty years and the wife of company’s late founder Ted Rogers, died on Saturday at the age of 83.

Canada will announce a multi-million dollar investment on Monday to make the Jansen potash mine run by the globe’s largest listed miner, BHP Group, “the cleanest and most sustainable in the world,” a government source said.

COMMODITIES AT 6:45 a.m. ET

Gold futures: $1857; -0.84% [GOL/]

US crude: $119.36; -1.09% [O/R]

Brent crude: $120.83; -0.92% [O/R]

FOR CANADIAN MARKETS NEWS, CLICK ON CODES:

TSX market report [.TO]

Canadian dollar and bonds report [CAD/] [CA/]

Reuters global stocks poll for Canada

Canadian markets directory

($1= C$1.28)

(Reporting by Amal S in Bengaluru; Editing by Aditya Soni)

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