CANADA STOCKS-TSX futures climb on stronger oil prices

Published on November 25, 2022 07:26 AM EST

CANADA STOCKS-TSX futures climb on stronger oil prices — Image source: ©2022 Kalkine Media®

Nov 25 (Reuters) - Futures for Canada's main stock index rose on Friday as oil prices strengthened and investors continued to bet on smaller interest rate hikes from the world's largest economy.

December futures on the S&P/TSX index were up 0.2% at 7:01 a.m. ET. The Toronto Stock Exchange's S&P/TSX composite index touched its highest closing level in more than five months on Thursday.

Crude prices jumped almost 2% after the energy ministers of Saudi Arabia and Iraq stressed the importance of adhering to OPEC+ output cuts that last until the end of 2023.

Futures tracking U.S. stock indices were mixed on Friday, with retailers in focus as Black Friday sales kicked off. U.S. markets were closed on Thursday and will see a shortened trading session on Friday on account of Thanksgiving.

COMMODITIES

Gold futures: $1,750.5; -0.3%

US crude: $79.82; +2.4%

Brent crude: $86.8; +1.7%

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Canadian markets directory ($1= C$1.3) (Reporting by Johann M Cherian in Bengaluru; Editing by Devika Syamnath)

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