CANADA STOCKS-TSX futures muted as oil gains offset GDP caution

By Reuters News10 hours ago Updated

Sept 29 (Reuters) - Futures tracking Canada's main stocks pointed to a muted open on Tuesday as investors remained cautious ahead of domestic GDP data, while the energy sector remains in focus on the back of strength in crude prices.

December futures on the S&P/TSX index were down 0.05% at 6:00 a.m. ET (1000 GMT).

Gold prices inched up 0.7% after hitting a more than seven-week low, as investors assessed fresh Middle East diplomatic efforts, with Iranian and US officials holding separate talks with mediators, while awaiting key US economic data for further signals on Fed's policy path GOL/
Brent crude futures headed for monthly gains of around 17% and traded near $105.47 on persistent supply concerns despite signs of recovering regional exports O/R
Canadian GDP data for July, due later in the day, could provide fresh insight into the health of the domestic economy. Economists expect a flat reading compared to 0.3% growth in June
Canada's main stock index .GSPTSE closed at its lowest level in nearly two months on Monday, with materials sector .GSPTTMT and heavily weighted financials .SPTTFS stocks among the biggest drags
The energy sector .SPTTEN will be closely watched later in the day as the Canada Energy Regulator approved Trans Mountain's tolls settlement, allowing up to 90% of the pipeline's capacity to be contracted to shippers
Shell SHEL.L and its partners approved LNG Canada Phase 2, a major expansion that will double the facility's production capacity to 28 million tons per annum
In major corporate news, Cleveland-Cliffs CLF.N plans to lay off hundreds of workers at its Ontario plant, citing the impact of US steel tariffs