06.02.202614:05:06UTC+00TSX Futures Rise as Gold Rebounds

Futures linked to Canada's S&P/TSX Composite Index showed an upward trend on Friday, signaling a positive opening after the significant decline in the previous trading session. This uptick was supported by gains among mining stocks and a surprising improvement in the unemployment figures. In January, the domestic unemployment rate fell unexpectedly to 6.5%. However, a decrease in net employment tempered expectations, limiting the markets' reaction to a potentially more aggressive stance from the Bank of Canada (BoC). Mining stocks were bolstered as gold prices surged by nearly 3%. On the other hand, oil prices fluctuated in anticipation of U.S.–Iran discussions in Oman, leading to volatility in energy stocks. In corporate developments, Saputo's third-quarter revenue, announced after Thursday's markets closed, fell short of forecasts, whereas ARC Resources exceeded expectations with its fourth-quarter revenue. Additionally, Capstone Copper confirmed that full operations have resumed at Chile's Mantoverde mine after the resolution of a labor strike.