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Futures linked to Canada’s main stock index dipped on Friday, tracking Wall Street peers, as investors returned after a two-day Christmas break to the end of a quieter week.
March futures on the S&P/TSX index were down 0,09 percent at 6.10 am Wall Street futures eased on Friday at the end of an upbeat holiday-shortened week for the main indexes.
Among commodities, gold prices eased but were set for a weekly gain as investors gravitated towards safe-haven assets amid political uncertainty in the Middle East.
Oil , rose slightly and was on track for a weekly gain, spurred by expectations of a stimulus-driven economic recovery in China and by forecasts of lower US inventories.
The composite index ended higher on Tuesday in thin trading on Christmas Eve.
Meanwhile, in a bid to address the looming threat of US tariffs, Canada’s new Finance Minister Dominic LeBlanc and Foreign Affairs Minister Melanie Joly were due to meet aides to US President-elect Donald Trump in Florida on Friday.
Canada is the world’s fourth-largest oil producer and the sixth-largest natural gas producer. The vast majority of its 4 million barrels per day of crude exports go to the US.
Trump has threatened a 25 percent tariff on imports from Canada, until the country stops drugs and migrants crossing its border with the US.
In corporate news, silver ore mine operator Sierra Metals said on Thursday that majority of its shareholders rejected a takeover bid from Peru-based Alpayana as inadequate.
The Dow ticked up marginally, while the S&P 500 and Nasdaq dipped slightly into the red. — Reuters.
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