AIRLINK 60.70 Decreased By ▼ -0.27 (-0.44%)
BOP 6.30 Increased By ▲ 0.01 (0.16%)
CNERGY 4.39 Increased By ▲ 0.06 (1.39%)
DFML 16.19 Increased By ▲ 0.33 (2.08%)
DGKC 70.20 Increased By ▲ 0.90 (1.3%)
FCCL 18.02 Decreased By ▼ -0.18 (-0.99%)
FFBL 26.50 Increased By ▲ 0.25 (0.95%)
FFL 9.25 Increased By ▲ 0.02 (0.22%)
GGL 10.30 Increased By ▲ 0.05 (0.49%)
HBL 115.00 Decreased By ▼ -2.00 (-1.71%)
HUBC 115.55 Increased By ▲ 1.07 (0.93%)
HUMNL 7.08 Increased By ▲ 0.15 (2.16%)
KEL 5.00 Increased By ▲ 0.11 (2.25%)
KOSM 5.45 Increased By ▲ 0.12 (2.25%)
MLCF 38.83 Increased By ▲ 0.33 (0.86%)
OGDC 125.61 Increased By ▲ 1.64 (1.32%)
PAEL 21.90 Increased By ▲ 0.05 (0.23%)
PIAA 12.80 Increased By ▲ 1.00 (8.47%)
PIBTL 6.22 Increased By ▲ 0.12 (1.97%)
PPL 116.50 Increased By ▲ 2.75 (2.42%)
PRL 28.36 Increased By ▲ 0.06 (0.21%)
PTC 12.25 Increased By ▲ 0.80 (6.99%)
SEARL 52.25 Decreased By ▼ -0.05 (-0.1%)
SNGP 67.70 No Change ▼ 0.00 (0%)
SSGC 11.44 Increased By ▲ 0.11 (0.97%)
TELE 8.23 Increased By ▲ 0.38 (4.84%)
TPLP 11.62 Increased By ▲ 0.04 (0.35%)
TRG 72.00 Increased By ▲ 0.19 (0.26%)
UNITY 24.05 Increased By ▲ 0.95 (4.11%)
WTL 1.35 Increased By ▲ 0.06 (4.65%)
BR100 6,760 Increased By 43.2 (0.64%)
BR30 22,820 Increased By 302.9 (1.35%)
KSE100 65,660 Increased By 333.8 (0.51%)
KSE30 22,297 Increased By 151 (0.68%)

Futures for Canada's resource-heavy main stock index were subdued on Thursday as concerns over rising interest rates globally hit risk appetite, while declining copper prices also weighed.

September futures on the S&P/TSX index were flat at 7:25 a.m. ET (1125 GMT), while their U.S. counterparts advanced.

Global central banks on Wednesday reaffirmed their resolve to beat inflation, warning rates may need to rise further.

The Bank of Canada's move to hike interest rates after a five-month pause has sent a signal that some economic pain will be needed to tame stubborn inflation, leading investors to raise bets on a hard landing for the economy.

TSX falls on rate-hike worries; energy, miners weigh

Copper prices hit a one-month low due to concerns about higher interest rates denting global economic growth and signs of weak demand in top metals consumer China.

Oil prices edged higher, while gold prices were pinned near their lowest levels since mid-March.

Investor focus will be on weekly U.S. jobless claims data later in the day and crucial U.S. consumer spending report due Friday to gauge where the Fed stands on further monetary policy tightening.

The Toronto Stock Exchange's S&P/TSX composite index closed at its highest level in over one week on Wednesday, boosted by gains in technology stocks.

However, the TSX is on track to post a decline for the current three months, following two straight quarters of gains, pressured by volatility in commodity prices and surging global interest rates.

Among individual stocks, technology company BlackBerry posted a surprise profit for the first quarter.

Media and content company Corus Entertainment reported a third-quarter loss versus a year-earlier profit.

A media report stated that telecom major Rogers would be cutting jobs as the company integrates with recently acquired peer Shaw.

National Bank of Canada downgraded energy company Paramount Resources to "sector perform" from "outperform".

Comments

Comments are closed.