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- Futures for Canada's main stock index were muted on Thursday as gains in metal prices were offset by declines in oil, while investors awaited fresh cues on the timing of interest rate cuts by central banks.Spot gold prices climbed as risks of a widening Middle East conflict raised its safe-haven appeal, overshadowing pressures from prospects of higher-for-longer U.S. interest rates.
Meanwhile, investors awaited fresh clues to gauge when the central banks' would commence their easing cycle, both at home and in the United States.The Toronto Stock Exchange's S&P/TSX composite index ended 0.1% higher on Wednesday, snapping a five-session losing streak, lifted by mining stocks. Gains on the index were contained after the Canadian federal budget proposed raising a tax on investment profits, with the measure coming into effect in June.
In corporate news, TC Energy said on Wednesday it does not anticipate any service interruptions from the rupture of its NGTL gas pipeline in Alberta, which caused a wildfire on Tuesday. In the U.S., corporate earnings momentum continues with several regional financial institutions set to report their quarterly numbers before the opening bell.Brent crude: $86.34; -1.1%
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