CANADA STOCKS-TSX futures edge higher as oil gains offset weakness in gold

By Reuters News

Oct 21 (Reuters) - Futures tracking Canada's blue-chip stocks edged higher on Wednesday as higher oil prices improved prospects for energy stocks, offsetting the impact of lower gold prices on mining stocks.

December futures on the S&P/TSX index inched up 0.18% at 05:48 a.m. ET (09:48 GMT).

  • Brent crude prices rose 1.1% as supply disruption fears from Middle East persisted with no resolution in sight for the US-Iran conflict

  • Iran's President Masoud Pezeshkian discussed mediation efforts during a meeting with Pakistan's army chief Field Marshal Asim Munir in Tehran, Iran's Nournews reported on Tuesday

  • Spot gold eased 0.1%, extending losses to a fourth straight session, as higher oil prices fueled inflation concerns

  • The US Federal Reserve is expected to keep interest rate on hold this month and deliver a hike in December, according to nearly all economists polled by Reuters

  • Canada's federal budget will be delivered on November 5, Finance Minister Francois-Philippe Champagne told the House of Commons on Tuesday

  • Traders are pricing in an 80% chance of a Bank of Canada rate hike next week, and a percentage point hike over the next 12 months, according to LSEG data

  • Canada and Turkey are expected to sign a joint declaration aimed at deepening bilateral cooperation in four areas, including defence and energy, during Prime Minister Mark Carney's visit later this week, a person briefed on the matter said

  • Japan's Mitsubishi Corp 8058.T approved the construction of a copper mining project in Arizona, jointly with Canada's Hudbay Minerals HBM.TO

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