TSX set to commence week higher as banking worries ease
2023.03.27 08:00
© 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/File Photo
(Reuters) – Futures for Canada’s main stock index rose on Monday, tracking optimism in global markets, while gains in prices further aided sentiment.
Global markets got a lift after U.S. lender First Citizens BancShares Inc said it would purchase the loans and deposits of failed Silicon Valley Bank, calming investor angst about the global financial system. [MKTS/GLOB]
March futures on the S&P/TSX index were up 0.4% at 7:12 a.m. ET.
Crude oil prices gained more than 1% as investors assessed efforts by authorities to rein in concerns over the global banking system. [O/R]
Among company news, Australia’s Origin Energy Ltd agreed to an A$15.35 billion ($10.21 billion) takeover offer by a consortium led by Brookfield at an implied offer price of A$8.912 per share.
Brookfield Asset Management is in exclusive talks to acquire a majority stake in Data4, in a deal that could value the data center operator at close to 3.5 billion euros ($3.8 billion) including debt.
On Friday, the Toronto Stock Exchange’s S&P/TSX composite index ended 0.2% up, helped by gains in industrial and mining sectors. ()
were up 215 points, or 0.66% at 7:12 a.m. ET on Monday, while were up 28 points, or 0.7% and were up 58.25 points, or 0.45%. [.N]
COMMODITIES AT 7:00 a.m. ET
: $1,955.3; -1.4% [GOL/]
US crude: $69.83; +1.01% [O/R]
: $75.61; +1% [O/R]
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($1 = 1.3726 Canadian dollars)
