TSX futures little changed as oil and gold prices fall

Canadian stock index futures were little changed on Tuesday, as falling oil prices eased inflation concerns while declining gold prices weighed on mining stocks. Crude oil continued its downward trend, with investors increasingly expecting that the Middle East conflict will be resolved through diplomatic means. The decline in energy prices provided some relief to credit-sensitive sectors such as banks. Meanwhile, gold prices fell ahead of a key U.S. inflation report, which could influence market expectations for Federal Reserve policy, putting pressure on mining stocks. On the earnings front, iA Financial reported earnings per share up 16% year-on-year, beating expectations and raising its quarterly common share dividend by 7% to $1.18 per share. On the other hand, Hydro One’s earnings per share missed expectations. Equinox Gold’s revenue was slightly better than expected, but its adjusted earnings per share missed forecasts. Endeavour Silver reported a 29% year-on-year increase in quarterly revenue but narrowed its full-year gold production guidance. CCL Industries is scheduled to release its earnings after the market close.