Canadian equity futures fall as lower metals pressure miners, oil stokes inflation fears

  • Canadian equity futures fell as weaker metals pressured mining stocks.
  • Gold, silver and copper declined while oil prices moved higher.
  • CIBC downgraded Endeavour Silver to neutral from outperformer, while bond yields increased.

Canadian equity futures fell Wednesday as lower metal prices weighed on mining stocks, while higher oil prices renewed concerns about energy-driven inflation. Gold and silver declined amid hawkish signals from U.S. Federal Reserve officials, and copper also moved lower. CIBC downgraded Endeavour Silver to neutral from outperformer, sending US-listed Canadian miners sharply lower in premarket trading. Oil gained amid uncertainty over diplomatic efforts to end the US-Iran war and reopen the Strait of Hormuz. Bond yields rose as inflation concerns persisted despite a slowdown in the oil rally in recent weeks, pressuring credit-sensitive stocks including major banks.

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