Markets

TSX May Open Higher; BoC Rate Announcement Eyed

Canada's benchmark index looks set to open higher on Wednesday, tracking global markets, as investors anticipate Bank of Canada's rate announcement at 10 am ET, but gains may be limited by falling oil prices .

Stock futures for the September quarter on the S&P TSX index were up 0.1% recently.

The Canadian central bank is expected to keep rates unchanged, given weak oil prices and risks to global economic growth following Britain's surprising decision to leave the European Union.

Meanwhile, oil was under pressure again after U.S. crude supplies increased. The WTI fell 0.9% to US$46.39/barrel, while Brent dropped 1.3% to US$47.86/barrel.

The TSX surged 115 points at closing on Tuesday, with energy stocks leading the advance.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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