TSX futures fall on worries over Trump's tariff pledges
Nov 26 (Reuters) -Futures tied to Canada's main stock index slipped on Tuesday after President-elect Donald Trump pledged big tariffs on top U.S. trading partners, including Canada, denting investor sentiment.
December futures on the S&P/TSX index SXFcv1 were down 0.46% at 6:10 a.m. ET (11:10 GMT).
Trump on Monday said he would impose a 25% tariff on imports from Canada and Mexico until the countries clamped down on drugs, particularly fentanyl, and migrants crossing the border.
This could have a significant impact on Canada, which sends a majority of its exports to the United States, including energy products.
Trump separately outlined "an additional 10% tariff, above any additional tariffs" on imports from China.
Toronto's heavyweight energy sector grabbed attention as oil prices rose after falling in the previous session amid chances of a potential ceasefire between Israel and Hezbollah. GOL/
The materials sector was in focus as gold prices steadied, while copper prices fell on the back of Trump's proposed tariffs on top metals consumer China. GOL/ MET/L
The composite index .GSPTSE ended lower on Monday as mining losses outweighed an upbeat market sentiment following Scott Bessent's nomination as U.S. Treasury secretary.
Later in the day, investors will focus on minutes from the Federal Reserve's policy meeting earlier this month to get insights into the country's interest-rate cut trajectory.
Domestic investors will focus on Bank of Canada Deputy Governor Rhys Mendes' speech at 8:20 a.m. ET.
In corporate news, Canada's Canaccord Genuity CF.TO is working with bankers to review its British wealth management business, with potential outcomes ranging from a sale to bringing in another investor, Financial Times reported.
COMMODITIES
Gold XAU=: $2,628.96; +0.14% GOL/
US crude CLc1: $69.52; +0.84% O/R
Brent crude LCOc1: $73.62; +0.84% 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 = 1.4087 Canadian dollars)
Reporting by Nikhil Sharma; Editing by Shreya Biswas
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