05.11.202514:26:28UTC+00TSX Futures Recover After One-Month Low

Futures connected to Canada’s S&P/TSX Composite Index showed an upward movement on Wednesday following a dip to a one-month low the previous day. This improvement was partly driven by increased gold prices, which alleviated some of the pressure on mining stocks that had weighed heavily on the market in the prior session. In a favorable update, BMO Capital Markets adjusted Cameco's price target from C$130 to C$160, maintaining an "Outperform" rating. The revisions are attributed to optimistic growth projections linked to Cameco’s investment in Westinghouse and its collaborative efforts with the US government. Although Cameco's third-quarter earnings per share were reported at C$0.07, falling short of expectations by C$0.16, the company’s revenue surpassed projections, reaching C$615 million against an anticipated C$568 million. Meanwhile, Suncor Energy exceeded quarterly profit estimates, bolstered by increased production and strong refining margins despite the challenge of lower pricing. Sun Life Financial is expected to release its earnings today, with forecasts suggesting weaker results. Great-West Lifeco maintains a "Moderate Buy" consensus, though it is anticipated that the company will see a 57.7% decline in revenue.