CANADA STOCKS-TSX futures climb over 1% on rising U.S.-Iran peace deal hopes
Shopify, Inc. Class A SHOP | 0.00 | |
Greenfire Resources Ltd. GFR | 0.00 |
May 6 (Reuters) - Futures for Canada's main stock index gained on Wednesday on growing optimism that a peace deal to end the U.S.-Iran war could be reached soon.
June futures on the S&P/TSX index SXFcv1 were up 1.3% at 6:30 a.m. ET (1030 GMT).
The United States and Iran are close to agreeing on a one-page memorandum to end the Gulf war, a Pakistani source familiar with the talks said. This confirmed an Axios report citing U.S. officials after U.S. President Donald Trump paused a naval mission near the Strait of Hormuz.
Oil prices fell for a second day on expectations bottled-up supply from the key Middle East producing region could resume flowing. O/R
Spot gold XAU= and silver XAG= rose 3.3% and 6.3%, respectively, helped by a weaker dollar and lower crude prices, with inflation concerns easing somewhat. GOL/
The Toronto Stock Exchange's S&P/TSX Composite Index .GSPTSE ended lower a third straight day as a steep decline in e-commerce firm Shopify’s SHOP.TO shares pressured the technology sector on Tuesday, offsetting energy and financials gains.
On the earnings front, Suncor Energy SU.TO beat Wall Street estimates for first-quarter adjusted profit, driven by higher production and throughput volumes.
Oil sands producer Greenfire Resources GFR.TO swung to a first-quarter loss.
Real estate firm Morguard MRC.TO missed its first-quarter revenue estimates on higher office and residential vacancy.
The downturn in Canada's services economy eased in April as the level of new business increased despite concerns about tariffs and the war in the Middle East, S&P Global's Canada services PMI data showed on Tuesday.
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