Canada stock futures rise as gold and oil support commodity producers

  • Canadian stock futures moved higher as commodity producers gained support.
  • C$4.2 billion surplus narrowed to C$769 million between June and July.
  • Bank of Canada kept its key rate unchanged on Wednesday, according to the source.

Futures tracking Canada’s stock market moved higher on Thursday as rising gold prices supported mining stocks and oil gains helped energy producers. Oil’s advance, linked to evolving strikes in the Middle East, also intensified inflation concerns and pressured credit-sensitive sectors such as financials. The Bank of Canada kept its key interest rate unchanged on Wednesday, but Governor Tiff Macklem said policymakers were prepared to raise rates multiple times if inflation remained elevated. Equities have faced pressure this week from rising global yields as investors reassessed interest-rate expectations amid escalating Middle East tensions. Separately, BRP’s DOO second-quarter revenue exceeded estimates. Canada’s merchandise trade surplus with the world narrowed to C$769 million in July from C$4.2 billion in June as the US-Canada trade war escalated in recent weeks.

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