Futures tracking the S&P/TSX Composite Index edged lower Friday, after the index hit a fresh record high in the prior session as investors were cautious on Canada’s GDP data and amid Wall Street losses. The Canadian GDP contracted by 0.6% in Q4 on an annualized basis, missing expectations of a flat reading. Banks were likely to open lower after major earnings reports resulted in mixed trading last session. Meanwhile, oil prices surged on lingering supply uncertainty, even as US-Iran nuclear talks were extended, lifting energy shares. Gold also rose, supporting mining stocks. Elsewhere, Bombardier CEO Eric Martel said Thursday that India’s push to modernize its aviation infrastructure could create long-term opportunities for the company to boost business jet sales. Meanwhile, Fairfax is the frontrunner to acquire a majority stake in Indian lender IDBI Bank.
