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]
Gold futures: $1,769.2; +0.7% [GOL/]
US crude: $79.9; +2.48% [O/R]
Brent crude: $85; +2.48% [O/R]
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(Reporting by Johann M Cherian in Bengaluru; Editing by Maju Samuel)