Canadian Stocks Set for Positive Open on Firm Precious Metals

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Summary · why it matters

Canadian stocks may open higher on Tuesday, driven by strong precious metals prices that are expected to trigger buying in the materials sector. The nation's trade surplus widened to C$3.86 billion in June, the largest in over four years, as exports rose 0.4% to a record C$77.5 billion and imports edged up 0.2% to a record C$73.6 billion. The S&P Global Manufacturing PMI for Canada is due at 9:30 AM ET, while earnings are expected from Suncor Energy, Industrial Alliance, Ssr Mining, EQB, and Boralex. On Friday, the benchmark S&P/TSX Composite Index fell 279.70 points, or 0.79%, to settle at 35,226.14, with the market closed Monday for Civic Holiday.

Impact on assets 2

Materials▲
SSR Mining Inc
SSRM
▲ PositiveDemandrelevance

Strong precious metals prices expected to boost materials sector, benefiting SSR Mining.

Energy▲

Off-coverage companies 2

EQB Inc.i
Private± Mixedrelevance

Industrial Alliance Insurance & Financial Services Inc.i
Private± Mixedrelevance