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Toronto futures drop on weaker product costs

Byadmin2

May 9, 2022
2022 05 09T111600Z 1 LYNXNPEI480GZ RTROPTP 3 CANADA STOCKS

June futures on the S&P/ TSX index were down 1.4% at 6:49 a.m. ET.

Petroleum slipped and costs of commercial metals were weaker as significant customer China tightened up COVID-19 curbs in its 2 greatest cities, while gold fell more than 1% on a more hawkish outlook for Federal Reserve policy tightening up. [O/R][GOL/]

Information for Canada’s March structure allows is due at 8:30 a.m. ET.

The Toronto Stock market’s S&P/ TSX composite index ended 0.3% lower on Friday at 20,633.28, its least expensive closing level given that Jan. 27. The benchmark index likewise taped its 6th straight week of decreases. [.TO]

Dow e-minis were down 519 points, or 1.58% at 6:49 a.m. ET, while S&P 500 e-minis were down 77.75 points, or 1.89% and Nasdaq 100 e-minis were down 288.25 points, or 2.27%. [.N]

LEADING STORIES [TOP/CAN]

Very first Quantum Minerals stated on Sunday its board has actually authorized prepare for a $1.25 billion growth of the business’s Kansanshi copper mine in Zambia, very first drifted in January 2020, a choice the miner stated was triggered by “restored self-confidence” in Zambia’s financial investment environment.

Canada’s Commissioner of Competitors means to oppose Rogers Communications Inc’s proposed C$ 20 billion ($ 16 billion) merger with Shaw Communications Inc, the business stated in a declaration early Saturday.

EXPERT RESEARCH STUDY HIGHLIGHTS [RCH/CA]

Canadian Natural Resources: Credit Suisse raises target rate to C$ 93 from C$ 85

Fortis Inc: Veritas Research study raises to purchase from lower

Kinaxis Inc: ATB Capital Markets raises target rate to C$ 210 from C$ 200

PRODUCTS AT 7:00 a.m. ET

Gold futures: $1858.6; -1.29% [GOL/]

United States crude: $107.29; -2.34% [O/R]

Brent crude: $110.02; -2.08% [O/R]

U.S. FINANCIAL DATA FEE ON MONDAY

1000 Work Trends for April: Previous 120.56

1000 Wholesale stock, R mm for March: Anticipated 2.3%; Prior 2.3%

1000 Wholesale sales mm for March: Previous 1.7%

FOR CANADIAN MARKETS NEWS, CLICK CODES:

TSX market report [.TO]

Canadian dollar and bonds report [CAD/] [CA/]

Reuters international stocks survey for Canada

Canadian markets directory site

($ 1= C$ 1.29)

(Reporting by Amal S in Bengaluru; Modifying by Aditya Soni)

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