TSX Futures Advance on Resource Issues
Toronto Trade Thin as U.S. Celebrates Thanksgiving
Futures for Canada's main stock index rose on Thursday, supported by strength in prices of copper and gold, while investor sentiment was also boosted by optimism that the U.S. Federal Reserve would soften its monetary tightening trajectory.
The TSX Composite picked up 62.25 points to close Wednesday at 20,282.26, its highest level in five months on Wednesday, supported by gains in the industrial and technology sectors.
December futures on the S&P/TSX index gained 0.4%.
The Canadian dollar dipped 0.04 cents to 74.92 cents U.S.
Gold shone brighter after a retreating dollar made the yellow metal cheaper for consumers, while copper prices rose on demand prospects after three of China's biggest banks agreed to provide support to the country's embattled property sector.
On the economic calendar, Statistics Canada says the number of employees receiving pay or benefits from their employer—referred to as 'payroll employees' in the Survey of Employment, Payrolls and Hours—rose by 85,300 (+0.5%) in September.
In Japan, the Nikkei 225 returned to trading with a gain of 1%, while Hong Kong, the Hang Seng Index gained 0.8%.
Oil prices sank 22 cents to $77.72 U.S. a barrel.
Gold prices soared $12.10 to $1,757.70 U.S. an ounce.
The TSX Venture Exchange inched up 0.37 points Wednesday to 576.75.
U.S. markets are closed for Thanksgiving Day
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