Futures prices rise on TSX ahead of US-Iran discussions as gold and oil prices increase

Futures for Canada’s main stock index rose Friday, signaling a positive start after a steep selloff during the previous session. Precious metals recovered and oil prices climbed ahead of U.S. Iran negotiations in Oman.

As of 5:55 a.m., March futures for the S&P/TSX Composite Index were up 0.54%. ET.

Toronto's resource-heavy benchmark Index fell on Thursday. Mining shares were dragged lower by a decline in precious metals. Energy shares also suffered as oil prices declined.

Investors rushed to safe-haven assets as Wall Street tech stocks fell for the seventh consecutive session on Friday.

Spot gold rose 2.1% and appeared to be on course for a modest gain for the week, while silver rose 4.1% but was still on course for a steep weekly loss.

Investors are concerned that there is no consensus on the agenda for the U.S.-Iran meeting. Brent crude futures, as well as U.S. West Texas Intermediate crude, both rose by 0.25%.

Investors will be watching the macroeconomic data, which is due Friday, to see what Canada's job numbers for January are.

In the corporate world, Saputo, a cheese-maker, reported its third-quarter revenues after the bell Thursday, but they fell short of analysts' expectations. Meanwhile, Arc Resources, an energy firm, beat their estimates for their fourth-quarter.

Capstone 'Copper announced on Friday that the full operation of Chile's Mantoverde Mine has resumed following an end to the labor strike.

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(source: Reuters)