TSX futures tepid as economic uncertainty dents commodities

April 21 (Reuters) – Futures for Canada’s resource-heavy stock index fell on Friday, as investors took cues from lackluster gold and crude prices, while tepid performances in Wall Street amid a mixed bag of earnings reports also weighed.

June futures on the S&P/TSX index were down 0.1% at 0648 a.m. ET (1048 GMT).

Oil prices were on track for a hefty weekly loss as economic and rate path uncertainty weighed, while bullion slumped nearly 1% as a firmer dollar made greenback-priced gold more expensive for overseas buyers.

The Toronto Stock Exchange’s S&P/TSX composite index (.GSPTSE) ended down on Thursday as lower oil prices weighed on energy shares, with the market retreating from a two-month high scaled earlier this week.

Across the border, U.S. stock index futures were flat as investors assessed a raft of corporate earnings, while awaiting more data for clues on the outlook for interest rates and the economy.

Investor focus is also on Canadian retail sales data for February, due at 0830 a.m. ET, for more clues on the domestic economy.

Brookfield Asset Management (BAM.TO) has made a counter bid of 2.13 billion pounds ($2.7 billion) to take over payments provider Network International (NETW.L), topping a joint proposal from CVC Capital and Francisco Partners.

Imperial Oil‘s (IMO.TO) CEO apologized to Canadian lawmakers for toxic tailings leaks at its Kearl oil sands mine and conceded the company had been “negligent” in not sharing information with nearby First Nations communities.

Norway’s sovereign wealth fund, one of the world’s largest investors, said it will support a plan by miner Teck Resources (TECKb.TO) to spin off its metallurgical coal business and focus on copper and zinc.


Gold futures : $1,993; -0.84%

US crude : $77.27; -0.13%

Brent crude : $80.97; -0.16%


S&P Global’s flash purchasing managers’ index (PMI) at 9:45 a.m. ET

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($1 = 1.3523 Canadian dollars)

Reporting by Shristi Achar A in Bengaluru; Editing by Sherry Jacob-Phillips

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