TSX futures rise as yields ease and gold gains
MDA•December futures on Canada's S&P/TSX index rose 1.1% as bond yields steadied and precious-metal prices edged higher, despite a global selloff in semiconductor shares.
1. Futures advance
December futures on the S&P/TSX were up 1.1% early Tuesday. Canada's 10-year yield eased to 3.878%, while gold and silver edged higher as oil prices fell; Brent was down about 2% to $104.78 a barrel.
2. Market pressures
Global equities came under pressure after reports of rapid advances by Chinese memory-chip maker CXMT raised concerns that China is closing the technology gap. Investors were also weighing inflation concerns tied to higher energy prices and government debt ahead of US consumer inflation data.
3. MDA Space stake
Czech arms maker CSG said it acquired a 9.5% stake in MDA Space, becoming the Canadian satellite and space technology company's largest shareholder.
