TSX futures gain on strong earnings, commodity prices

[August 04, 2022]  (Reuters) - Canada's resource-heavy main stock index was set to open higher on Thursday, supported by a slew of robust earnings reports and firm oil and gold prices.

September futures on the S&P/TSX index were up 0.3% at 7:00 a.m. ET, taking cues from the global market as worries over Nancy Pelosi's visit to Taiwan eased.

The Toronto Stock Exchange's S&P/TSX composite index ended 0.2% higher on Wednesday, helped by gains in technology and financial shares. [.TO]

In company news, Canadian Natural Resources Ltd reported its quarterly profit more than doubled, as crude prices soared on tighter energy supplies due to the Ukraine conflict.

Business jet maker Bombardier Inc posted a smaller second-quarter loss, helped by steady demand and lower interest expenses, while news and information company Thomson Reuters Corp reported higher operating profit and raised its full-year revenue forecast.

Wall Street was also set to extend gains on Thursday after a strong overnight rally on robust economic data and upbeat corporate outlook.

Dow e-minis were up 44 points, or 0.13% at 7:00 a.m. ET, while S&P 500 e-minis were up 9.75 points, or 0.23% and Nasdaq 100 e-minis were up 57.25 points, or 0.43%. [.N]

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(Reporting by Bansari Mayur Kamdar in Bengaluru; Editing by Vinay Dwivedi)

 

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