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04.11.202513:05:51UTC+00TSX Futures Weakens on Global Risk-Off Mood

Futures for Canada's S&P/TSX Composite Index saw a decline on Tuesday, aligning with a global trend towards risk aversion. Despite a strong overnight tech rally in the U.S., Canadian market sentiment remained cautious as the manufacturing sector continued to show contraction in October. The struggles in the commodities market further pressured domestic producers, with oil prices dropping in response to OPEC+'s decision to increase production by 137,000 barrels daily in December and halt any further hikes until March 2026. Additionally, a stronger U.S. dollar led to a decline in gold prices, affecting Canadian mining companies. Investors were anticipating earnings reports from Shopify, Air Canada, Intact, Fortis, and Industrial Alliance later that day. Meanwhile, Franco-Nevada saw a 0.9% increase on Monday after surpassing earnings expectations.

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