CANADA STOCKS-TSX futures edge up after US and EU trade deal

Reuters
07-28
CANADA STOCKS-TSX futures edge up after US and EU trade deal

July 28 (Reuters) - Futures tied to Canada's main stock index inched higher on Monday, tracking global gains, as a trade deal between the U.S. and the European Union lifted sentiment ahead of the August 1 tariff deadline.

Futures on the S&P/TSX index SXFcv1 were up 0.2% at 1,639 points by 06:08 a.m. ET (1008 GMT). The benchmark had closed at a record high on Friday.

The U.S. struck a framework trade agreement with the EU on Sunday, imposing a 15% tariff on most EU goods and requiring the bloc to invest around $600 billion in the U.S.

Canada and other countries are also looking to finalize trade deals before the August 1 deadline. The U.S. and China will resume talks in Stockholm on Monday, aiming to extend a truce between the world's top two global economies by 90 days.

Oil prices edged higher in the day, while gold steadied and metal prices lost ground.

First National Financial FN.TO said on Sunday it had reached an agreement to be acquired by private equity firm Birch Hill Equity Partners and asset manager Brookfield Asset Management BAM.TO in a deal valuing the company's equity at C$2.9 billion ($2.12 billion).

This week, investors will closely monitor policy decisions from the U.S. Federal Reserve and the Bank of Canada, as well as earnings from some "Magnificent Seven" companies.

FOR CANADIAN MARKETS NEWS, CLICK ON CODES:

TSX market report .TO

Canadian dollar and bonds report CAD/ CA/

Reuters global stocks poll for Canada EQUITYPOLL1, EPOLL/CA

Canadian markets directory CANADA

(Reporting by Sanchayaita Roy in Bengaluru; Editing by Shilpi Majumdar)

((Sanchayaita.Roy@thomsonreuters.com))

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