ND: TSX Set for Higher Start on Oil Prices, Inflation Data
Canada's benchmark index is expected to open higher on Friday, lifted by stronger oil prices and by the Canadian inflation report. Stock futures for the September quarter on the S&P TSX index were down by only 0.22% recently.
Oil prices were higher on Friday after China, a major energy consumer, reduced borrowing rates to 4.35% to stimulate its dwindling economy. Brent crude was last up 0.46% at US$48.30/barrel.
Meanwhile, Statistics Canada said Friday that the inflation rate for September was at 1%, down from 1.3% in August due to lower gas prices.
The TSX climbed 173 points at closing on Thursday, led by telecom and healthcare stocks.
