TSX futures up as commodity prices rebound on US debt deal optimism

Futures for Canada’s main stock index ticked higher on Friday on strength in commodity prices and increased optimism on a deal over the U.S. debt ceiling that could avert a catastrophic default.

June futures on the S&P/TSX index were up 0.4% at 7:03 a.m. ET.

Contracts tied to crude oil and copper prices were boosted by signs that a deal on raising the U.S. debt ceiling could be reached as early as Sunday.

Bullion prices also ticked higher as weakness in the U.S. dollar made the precious metal more cheaper for consumers holding other currencies.

Among company news, Edenbrook Capital, which owns 10.4% of Absolute Software Corp (ABST.TO), said the deal to take the software firm private by Crosspoint Capital Partners significantly undervalued the firm.

Canada’s competition regulator said it was suing Cineplex Inc (CGX.TO) for advertising movie tickets at a lower price than what many consumers actually have to pay.

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