TSX futures ascended into the black before Monday’s market open thanks to progress with United States-China relations, as well as support from gold and oil prices, as investors hedge their bets on what Prime Minister Carney’s first budget, to be tabled on Tuesday, will lay out in terms of business investment amidst trade tensions with the US.
Market numbers
TSX: Up (0.27%), 30,260.74.
TSXV: Up (0.48%), 957.88.
DOW: Down (0.04%), 47,715.
NASDAQ: Up (0.68%), 26,159.
FTSE: Down (0.43%), 9,730.
In the headlines
As Carney works out Canada’s economic vision, leading companies active in the country are having to make strategic decisions about future operations. According to a report from The Globe and Mail, mining giant Glencore is considering shutting down the Horne smelter in Quebec, Canada’s largest copper plant, which requires almost C$300 million in environmental upgrades.
We also have New Gold (TSX:NGD), a Canadian gold, copper and silver miner with two producing mines in Ontario and BC, which announced that it will sell itself off to US-based Coeur Mining (NYSE:CDE) for US$7 billion. The resulting company is expected to produce 20 million ounces of silver, 900,000 ounces of gold and 100 million pounds of copper in 2026.
Currencies
US: Down (0.12%), US$0.7118.
Euro: Down (0.06%), €0.6181.
GBP: Down (0.09%), £0.5419.
AUD: Down (0.40%), $1.0868.
JPY: Down (0.06%), ¥109.798.
Bitcoin: Down (2.26%), US$151,468.32.
(Conversion to C$1)
Commodities
Natural Gas: Up (2.74%), US$4.203.
WTI: Up (0.04%), US$61.175.
Gold: Up (0.15%), US$4,008.30.
Copper: Down (0.33%), US$5.143.
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