Dec 15 (Reuters) - Futures for Canada’s main stock index rose on Monday, supported by higher precious metal prices, while investors awaited domestic inflation print due later in the day.
December futures on the S&amp;P/TSX index (SXFcv1) were up 0.64% as of 05:54 a.m. ET.
The Canadian benchmark index (.GSPTSE) fell on Friday, led by technology stocks as Broadcom and Oracle stoked concerns of an AI bubble. This erased much of TSX’s weekly gains that were buoyed by the Federal Reserve’s rate cut and rising gold prices.
The index had outperformed two of the three major Wall Street indexes last week.
Canada’s inflation data is due at 08:30 a.m. ET, and is expected to show a rise of 2.3% on an annual basis for November after easing to 2.2% in October. The CPI has stayed close to the higher end of Bank of Canada’s target of 2% and it expects some choppiness in headline data that would push inflation higher in the near term.
Gold (XAU=) gained 1% supported by a weaker dollar, while silver (XAG=) hovered near its all-time record. Oil (LCOc1) (CLc1) also rose as concerns about supply disruption linked to U.S.-Venezuela tensions were balanced by oversupply concerns due to a potential Russia-Ukraine peace deal.
Among corporate updates, Australia’s Fortescue (FMG.AX) said it would buy the remaining 64% of Alta Copper (ATCU.TO) in a deal valued at C$139 million ($101 million).
Chinese metals miner and processor CMOC Group (603993.SS) said its unit CMOC Ltd plans to buy Leagold LatAm Holdings B.V. and Luna Gold Corp from Canada’s Equinox Gold Corp (EQX.TO) for a combined $1.015 billion.
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TSX futures rose by 0.64% supported by higher precious metal prices, ahead of Canadian inflation data expected to show a 2.3% annual rise for November. The TSX index had previously fallen due to tech stock concerns. Gold and oil prices increased, while Fortescue plans to acquire Alta Copper, and CMOC Group aims to buy assets from Equinox Gold Corp.

CANADA STOCKS-TSX futures climb with precious metals ahead of Canadian inflation data