TSX futures edge up tracking oil prices as banking worries wane
2023.03.28 08:01
© Reuters. FILE PHOTO: The Art Deco facade of the original Toronto Stock Exchange building is seen on Bay Street in Toronto, Ontario, Canada January 23, 2019. REUTERS/Chris Helgren
(Reuters) – Canada’s main stock index was set for a slightly high open on Tuesday tracking gains in prices, amid expectations that the worst was over for the global financial system.
March futures on the S&P/TSX index were up 0.1% at 7:26 a.m. ET.
Contracts tied to oil prices extended gains from the previous session amid supply disruption risks from Iraqi Kurdistan. [O/R]
Among stocks, Lundin Mining (OTC:) Corp said it would buy a majority stake in Chile’s Caserones mine for about $950 million to expand the Canadian miner’s exposure to the red metal crucial for the green energy transition.
Brokerage J.P.Morgan raised its price target levels for Bombardier (OTC:) Inc stating that the business jet maker had made considerable progress in shoring up its balance sheet, leaving it less vulnerable to the macro environment.
Crescent Point Energy (NYSE:) Corp said it would acquire Spartan Delta Corp’s oil and liquids-rich Montney assets in Alberta for C$1.7 billion ($1.24 billion) in an all-cash deal.
In the previous session, the Toronto Stock Exchange’s S&P/TSX composite index ended 0.6% higher aided by gains in energy and financial stocks. ()
were up 25 points, or 0.08%, at 7:26 a.m. ET, while remained unchanged and were down 6.75 points, or 0.05%. [.N]
COMMODITIES AT 7:00 a.m. ET
: $1,957.3; +0.1% [GOL/]
US crude: $73.1; +0.3% [O/R]
: $78.41; +0.3% [O/R]
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report ()
Canadian dollar and bonds report [CAD/] [CA/]
Reuters global stocks poll for Canada
Canadian markets directory
($1 = 1.3677 Canadian dollars)
