Aug 30 (Reuters) – Futures for Canada's main stock index rose on Tuesday, tracking an uptick in global shares, though dour earnings from Bank of Montreal and weakness in crude prices kept gains in check.
Futures on the S&P/TSX index were up 0.2% at 7:27 a.m. ET (1127 GMT).
Crude prices tumbled on fears that an inflation-induced weakening of global economies would soften fuel demand, and as Iraqi crude exports have been unaffected by clashes.
Gold and other precious metal prices were pressured by expectations of more interest rate hikes by the U.S. Federal Reserve.
The resource-heavy Toronto Stock Exchange's S&P/TSX composite index ended down 0.2% on Monday, extending declines from the previous session, after gains in energy and cannabis stocks were offset by losses in materials and financials.
Meanwhile, Bank of Montreal missed analysts' estimates for third-quarter profit, with earnings falling from a year earlier as revenue from its capital markets business slumped and it increased provisions for credit losses.
In a data heavy week, investors are awaiting readings on Canada's second-quarter current account balance due later in the day and gross domestic product scheduled for Wednesday.
Dow e-minis were up 194 points, or 0.6%, while S&P 500 e-minis were up 29.75 points, or 0.74% and Nasdaq 100 e-minis were up 128 points, or 1.02%.
A Globe and Mail report said that BlackBerry's plans to sell its legacy mobile device patents for $600 million were doubtful.
Canada has invoked a 1977 pipeline treaty with the United States for the second time in less than a year, in this case to prevent a shutdown of Enbridge Inc's Line 5 pipeline in Wisconsin, Foreign Minister Melanie Joly said on Monday. (Reporting by Aniruddha Ghosh in Bengaluru; Editing by Sriraj Kalluvila)
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