Futures tracking Canada’s main stock index started the month on a dour note on Thursday as crude oil and gold prices extended their recent falls amid concerns of a faster-than-expected decline in economic growth.
The TSX declined 182.09 points to finish Wednesday at 19,330.81
Futures plunged 0.6% Thursday.
Rio Tinto on Thursday reached an in-principle agreement to buy the rest of Turquoise Hill Resources for $3.3 billion.
On the economic front, Statistics Canada reported building permits declined 6.6% in July to $11.2 billion, mainly due to the residential sector, which fell 8.6% to $7.6 billion. The non-residential sector also dropped slightly by 2.1%.
The S&P Global Canada Manufacturing PMI for August was due at 9:30 a.m. EDT.
Meanwhile, federal Conservatives next month look set to embrace as leader Pierre Poilievre, a career politician who has promised to fire the central bank governor and promoted bitcoin as an inflation hedge.
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