TSX futures rise as investors await progress on trade talks
Futures on Toronto's S&P/TSX index were up 0.2% by 06:25 a.m. ET (1025 GMT).
Canada is seeking to finalise a free trade deal with Southeast Asian nations as part of an attempt to expand into new markets, its foreign minister said, as a response to the hefty tariffs imposed by the U.S.
President Donald Trump on Wednesday announced a new 50% tariff on copper, set to go into effect on August 1, and threatened to slap 50% levies on exports from Brazil.
Trump also issued new tariff letters to seven minor trading partners, adding to the 14 others issued earlier in the week.
Canada, which aims to reach a trade deal with Washington by July 21, could impose counter-duties on the U.S. if no agreement is reached.
Gold prices rose on Thursday, supported by a pullback in the dollar and the prospect of U.S. interest rate cuts later in the year. Oil prices declined moderately. [O/R] [GOL/]
In company news, Canada Goose's private equity backer, Bain Capital, is considering a sale of its stake in the luxury brand, Bloomberg News reported.
The benchmark S&P/TSX composite index rose on Wednesday, with the materials group leading a broad-based advance as gains for U.S. technology shares fed recent investor exuberance.
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
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Canadian dollar and bonds report [CAD/] [CA/]
Reuters global stocks poll for Canada
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