(Reuters) – Canada’s main stock index was set for a positive start to the week on Monday after miner Barrick Gold Corp reported a quarterly profit that beat analysts’ estimates.
Barrick posted higher copper output for the quarter, even as inflation drove the miner’s cost of production up.
September futures on the S&P/TSX index were up 0.4% at 7:25 a.m. ET, while gold futures rose by 0.24% and spot gold prices gained 0.33%.
The Toronto Stock Exchange’s S&P/TSX composite index ended Friday with its third straight day of modest gains, but was down 0.4% for the week.
Data on Friday showed Canada reported 30,600 positions were shed, while the unemployment rate stayed at a record low of 4.9%, but a rise in energy shares amid higher oil prices helped the stock index close higher.
Oil prices on Monday, however, fell on demand worries.
Investors across the globe were also awaiting the release of key U.S. inflation data later this week.
At 7:29 a.m. ET, Dow e-minis were up 118 points, or 0.36%, S&P 500 e-minis were up 17.25 points, or 0.42%, and Nasdaq 100 e-minis were up 70.25 points, or 0.53%. [.N]
(Reporting by Johann M Cherian in Bengaluru; Editing by Shounak Dasgupta)
