TSX futures flat ahead of retail sales data
Oct 25 (Reuters) -Futures tied to Canada's main stock index were flat on Friday, as a rise in crude prices was countered by losses in metals, while investors awaited domestic economic data later in the day.
December futures on the S&P/TSX index SXFcv1 were up 0.01% at 6:10 a.m. ET (10:10 GMT).
Canada's energy sector could benefit from higher oil prices as tensions in the Middle East and a restart in Gaza ceasefire talks in the coming days kept traders on edge. O/R
The materials sector could grab the limelight as gold prices, though slipping, were set for a weekly gain due to geopolitical tensions driving demand. Copper prices dipped as China's stimulus measures failed to assuage demand worries. GOL/ MET/L
The composite index .GSPTSE fell for the fourth straight day on Thursday, strained by declines in utilities and metal mining shares, pushing it closer to a weekly loss.
Despite the Bank of Canada's highly anticipated 50 basis points rate cut on Wednesday, recent increases in benchmark yields have generally led to a negative reaction in Toronto stocks this week.
Domestic investors will focus on Canada's retail sales data scheduled for later in the day, along with the Bank of Canada Governor Tiff Macklem's address to journalists at the sides of the IMF meeting.
South of the border, Wall Street futures edged higher on Friday as a dip in Treasury yields eased some pressure on equities, but the major indexes were still poised for weekly losses. .N
In corporate news, the West African country Mali accused Barrick Gold ABX.TO of failing to abide by commitments made in a recent agreement, though the Canadian miner denied the allegations.
COMMODITIES
Gold XAU=: $2,720; -0.57% GOL/
US crude CLc1: $70.54; +0.5% O/R
Brent crude LCOc1: $74.74; +0.5% O/R
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report .TO
Canadian dollar and bonds report CAD/ CA/
Reuters global stocks poll for Canada EQUITYPOLL1, EPOLL/CA
Canadian markets directory CANADA
($1 = 1.3846 Canadian dollars)
Reporting by Nikhil Sharma in Bengaluru; Editing by Vijay Kishore
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