Canada futures rise as lower oil prices and bond yields lift risk appetite
December futures for the S&P/TSX index rose 0.42% on Tuesday as falling oil prices and a dip in U.S. Treasury yields improved risk sentiment. Weaker gold prices limited gains. A separatist party won Quebec's election.
Oct 6 (Reuters) — Futures tracking Canada's benchmark stock index rose on Tuesday as easing oil prices and a pullback in global bond yields lifted risk appetite, though weaker metal prices capped gains. m. ET (1003 GMT). Oil prices fell as resilient Middle Eastern crude exports and a G7 emergency stockpile release eased supply concerns, with Brent Crude dipping below $100 a barrel.
The yield on the US benchmark 10-year Treasury note dipped after hitting a 24-year high on Monday, offering some relief to investors. However, concerns over persistent inflation and rising government debt arekeeping bond and equity markets on edge. Gold prices eased on Tuesday, slightly pressuring sentiment in the commodity-heavy Canadian market. Canada's main stock index edged higher in the previous session as technology gains offset declines in energy and financials.
Among corporate developments, vitamins and supplements maker Jamieson Wellness received final court approval for its pending acquisition by Kirin Holdings. On the political front, a separatist party narrowly won Quebec's election on Monday, a result that could make it tougher for Prime Minister Mark Carney to maintain national unity amid a trade deal dispute with the US. com;)