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CANADA STOCKS-TSX futures track global peers lower on higher rate worries

Reuters
·1 min read

Feb 06 (Reuters) - Futures for Canada's main stock index fell on Monday, as investors worried that a string of strong economic data will keep interest rates higher for longer.

March futures on the S&P/TSX index were down 0.5% at 7:00 a.m. ET.

The Toronto Stock Exchange's S&P/TSX composite index ended 0.1% higher at 20,758.34 on Friday, logging its fifth straight week of gains, the longest weekly winning sequence since March.

Global shares tumbled on Monday, after last week's blockbuster U.S. jobs sparked concerns about aggressive action by the Federal Reserve.

Futures tracking U.S. stock indexes fell as investors eyed more corporate updates and a speech by Fed Chair Jerome Powell to assess the trajectory of interest rate hikes.

In company news, Scotiabank downgraded Brookfield Corp to "neutral" from "outperform".

Focus will be on Newmont Corp after the gold miner made a $16.9 billion offer for Australian peer Newcrest Mining Ltd. U.S.-listed shares of the company fell 5.84%.

COMMODITIES AT 7:00 a.m. ET

Gold futures: $1873.3; +0.27%

US crude: $73.65; +0.35%

Brent crude: $80.38; +0.55%

FOR CANADIAN MARKETS NEWS, CLICK ON CODES:

TSX market report

Canadian dollar and bonds report

Reuters global stocks poll for Canada

Canadian markets directory

($1 = 1.3441 Canadian dollars) (Reporting by Shristi Achar A in Bengaluru; Editing by Sriraj Kalluvila)

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