Futures tied to the S&P/TSX Composite Index inched higher on Friday, lifted by stronger gold prices after weaker-than-expected US employment data tempered expectations of an imminent Federal Reserve rate hike. Gold advanced after figures showed US nonfarm payrolls increased by 57,000 in June, far below the consensus forecast of 110,000. The softer data bolstered hopes for a more dovish Fed stance and underpinned mining shares.
In corporate news, BHP Group agreed to transfer its San Manuel property in Arizona to Faraday Copper in return for a 30% equity stake in the Canadian miner, as Faraday pursues plans to build a copper hub around its adjacent Copper Creek project.
Oil prices hovered near pre-war lows amid optimism over US–Iran peace efforts, easing worries about energy-driven inflation and lending support to financial stocks. Separately, AtkinsRéalis said Turkey could begin formal negotiations on a CANDU nuclear plant once it completes an initial reactor review later this summer.
