(Reuters) – Futures for Canada’s main stock index rose on Thursday on higher gold prices and as global stocks steadied as a dip in oil prices calmed investor nerves about surging inflation and aggressive policy tightening.
June futures on the S&P/TSX index were up 0.3% at 6:50 a.m. ET.
World shares were largely steady after recent weakness as a drop in oil prices on bets Saudi Arabia may boost production helped balance concerns over surging inflation and monetary policy tightening.[MKTS/GLOB][O/R]
Gold prices rose on Thursday, with greenback-priced bullion drawing on support from slightly lower U.S. Treasury yields and a retreat in the dollar. [GOL/]
Data for Canada’s April building permits is due at 8:30 a.m. ET.
The Toronto Stock Exchange’s S&P/TSX composite index ended 0.1% lower at 20,713.72 on Wednesday. It was the second straight session of declines for the index after it posted on Monday its highest closing level in nearly four weeks. [.TO]
Dow e-minis were up 116 points, or 0.35% at 6:50 a.m. ET. S&P 500 e-minis were up 18.75 points, or 0.46%, and Nasdaq 100 e-minis were up 78 points, or 0.62%. [.N]
(Reporting by Amal S in Bengaluru; Editing by Amy Caren Daniel)
