TSX futures slip as metal prices drag
Nov 12 (Reuters) -Futures tied to Canada's main stock index fell on Tuesday, as lower metal prices weighed, while investors focused on major domestic earnings due on the day and U.S. inflation data later in the week.
December futures on the S&P/TSX index SXFcv1 were down 0.4% at 6:15 a.m. ET (11:15 GMT).
Canada's materials sector remained in focus as gold and copper prices fell over 1% to a two-month low on a stronger dollar. GOL/ MET/L
The energy sector also drew attention as oil prices edged higher, with investors awaiting OPEC's monthly report for further price direction. However, disappointment over China's latest stimulus plan and oversupply concerns limited gains. O/R
The composite index GSPTSE ended higher on Monday as investors remained bullish following the U.S. presidential election.
Investors awaited U.S. consumer price inflation data due on Wednesday and a parade of Federal Reserve speakers due to speak this week, including Fed Chair Jerome Powell on Thursday.
The U.S. central bank is expected to cut rates by 25 basis points in December. However, markets also expect the Fed to take a cautious approach under the new Trump administration as some of his proposed policies may stoke inflation and strengthen the dollar, resulting in higher-for-longer U.S. interest rates.
Canada, the United States' second-biggest trading partner, is especially vulnerable to his suggested 10% tariff on all imports.
Domestic investors will parse quarterly earnings from e-commerce giant Shopify SHOP.TO due on the day.
In corporate news, Warehouse landlord Segro SGRO.L would buy six Tritax EuroBox EBOX.L properties in Germany and the Netherlands for 470 million euros ($499.1 million) as part of a deal with Brookfield Asset Management Ltd BAM.TO.
COMMODITIES
Gold XAU=: $2595.9; -0.1% GOL/
US crude CLc1: $68.41; +0.54% O/R
Brent crude LCOc1: $72.2; +0.52% 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 = 1.3957 Canadian dollars)
Reporting by Nikhil Sharma in Bengaluru; Editing by Vijay Kishore
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