TSX futures down as caution around Credit Suisse prevails

(Reuters) – Futures for Canadas main stock index fell on Thursday, as caution prevailed around financial stocks after Credit Suisse secured a lifeline from the Swiss central bank, while higher commodity prices helped cut losses.

Futures on the S&P/TSX index were down 0.2% at 6:56 a.m. ET (1056 GMT), while their U.S. counterparts were mixed.

Financials, Canadas largest sector by weight, had lost nearly 2% in the previous session.

Financial markets around the world have been rattled by the swift collapse of U.S.-based Silicon Valley Bank and Signature Bank, with the recent drop in Credit Suisses stock only adding to concerns.

In a move to soothe markets, Credit Suisse said it would borrow up to $54 billion from Switzerlands central bank to shore up liquidity and investor confidence.

Canadas benchmark index recorded its worst showing in over four months on Wednesday.

Investors would be on the lookout for a flurry of U.S. economic data before markets open, which includes February housing starts, monthly import prices and weekly jobless claims ahead of the Feds interest rate decision next week.

Back home, Canadian wholesale trade data for the month of January is due at 8:30 am ET.

Oil prices clawed back some ground after sliding to 15-month lows in the previous session, while gold prices edged higher. [O/R] [GOL/]

Commodity-linked stocks account for nearly 31% of the Canadian benchmark.

Among individual stocks, First Quantum Minerals, the operator of the Cobre Panama mine, has resumed operations to normal levels at the mine, gold-focused royalty and streaming company Franco-Nevada Corp said.

Convenience store operator Alimentation Couche-Tard said it is in exclusive talks to buy some of French energy company TotalEnergies retail assets for 3.1 billion euros ($3.29 billion) in cash.

(Reporting by Shashwat Chauhan in Bengaluru; Editing by Shailesh Kuber)