Canadian equity futures were little changed on Tuesday as weaker oil prices eased inflation concerns, while a pullback in gold weighed on mining shares. Crude extended its decline as investors increasingly priced in the likelihood of a diplomatic resolution to the Middle East conflict. Softer energy prices offered some relief to credit-sensitive sectors, notably banks.
Gold retreated ahead of a key U.S. inflation reading that could influence expectations for Federal Reserve policy, putting additional pressure on precious metals miners.
In corporate earnings, iA Financial reported a 16% year-over-year increase in EPS, beating analyst estimates, and raised its quarterly common dividend by 7% to $1.18 per share. In contrast, Hydro One missed EPS expectations. Equinox Gold delivered slightly better-than-expected revenue, though adjusted EPS came in below forecasts. Endeavour Silver posted a 29% year-over-year rise in quarterly revenue but narrowed its full-year gold production guidance. CCL Industries is scheduled to release its results after the market close.
