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TSX futures rise; National Bank, RBC report profit fall

11/30/2022 | 08:36am EST
FILE PHOTO: The facade of the original Toronto Stock Exchange building is seen in Toronto

(Reuters) - Futures for Canada's main stock index rose on Wednesday tracking upbeat commodity prices, while investors digested a drop in fourth-quarter profit of top Canadian lenders National Bank and RBC.

Crude oil and metal prices gained on a weaker dollar, while demand recovery prospects from the world's largest economy, China, added to the optimism. [O/R] [METL/] [GOL/]

Both National Bank of Canada and Royal Bank of Canada reported a drop in profit from the previous year, as the lenders set aside higher provisions for bad debts in the face of the most anticipated recession.

December futures on the S&P/TSX index were up 0.4% at 07:26 a.m. ET.

Brookfield Asset Management said it will buy a 49% stake in the education portfolio of Sweden's SBB for $870.42 million.

Canadian Natural Resources Ltd forecast higher production for 2023.

Enbridge Inc expects higher core earnings next year as the firms seek to capitalize on higher oil and gas prices. The pipeline operator also said that Greg Ebel would succeed retiring President And Chief Executive Al Monaco.

U.S. stock index futures edged higher as investors avoided big bets ahead of comments from Federal Reserve Chair Jerome Powell later in day. [.N]

COMMODITIES

Gold futures: $1,769.2; +0.7% [GOL/]

US crude: $79.9; +2.48% [O/R]

Brent crude: $85; +2.48% [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

Canadian markets directory

($1= C$1.3)

(Reporting by Johann M Cherian in Bengaluru; Editing by Maju Samuel)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / CANADIAN DOLLAR (AUD/CAD) -1.66% 0.92617 Delayed Quote.2.86%
BRENT OIL -2.83% 79.73 Delayed Quote.-3.41%
BRITISH POUND / CANADIAN DOLLAR (GBP/CAD) -0.80% 1.61446 Delayed Quote.0.31%
BROOKFIELD ASSET MANAGEMENT INC. -0.53% 50.55 Delayed Quote.19.35%
CANADIAN DOLLAR / JAPANESE YEN (CAD/JPY) 1.29% 97.924 Delayed Quote.0.13%
CANADIAN DOLLAR / SWISS FRANC (CAD/CHF) 0.73% 0.69071 Delayed Quote.0.28%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) -0.57% 0.7461 Delayed Quote.2.05%
CANADIAN NATURAL RESOURCES LIMITED 0.91% 77.73 Delayed Quote.2.45%
ENBRIDGE INC. 0.74% 54.38 Delayed Quote.2.00%
GOLD -2.63% 1864.9 Delayed Quote.7.08%
NATIONAL BANK OF CANADA 0.29% 100.93 Delayed Quote.10.31%
NEW ZEALAND DOLLAR / CANADIAN DOLLAR (NZD/CAD) -1.72% 0.84728 Delayed Quote.0.51%
ROYAL BANK OF CANADA 1.29% 138.15 Delayed Quote.7.14%
S&P GSCI BRENT CRUDE INDEX -2.71% 680.3413 Real-time Quote.-4.35%
S&P GSCI CRUDE OIL INDEX -3.40% 402.2251 Real-time Quote.-4.05%
S&P/TSX COMPOSITE INDEX 0.09% 20758.34 Delayed Quote.6.99%
THE MOSAIC COMPANY -0.81% 50.44 Delayed Quote.14.98%
US DOLLAR / CANADIAN DOLLAR (USD/CAD) 0.59% 1.3392 Delayed Quote.-1.96%
WTI 0.00% 73.419 Delayed Quote.-4.63%
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