July 23 (Reuters) - Futures tied to Canada's benchmark index rose on Wednesday, after U.S. President Donald Trump revived hopes for deals with its trading partners following an agreement with Japan.
Futures on the S&P/TSX index SXFcv1 were up 0.5% at 1,637.1 points by 06:20 a.m. ET (1020 GMT).
Trump struck a trade deal with Japan, lowering tariffs on auto imports and sparing Tokyo from punishing new levies on other goods, in exchange for a $550 billion package of U.S.-bound investment and loans.
Meanwhile, prospects of an EU-U.S. trade agreement improved after Trump said on Tuesday that EU representatives would come for trade negotiations on Wednesday.
The news lifted market sentiment and sparked hopes of more U.S. agreements before the August 1 tariff deadline.
In commodities, gold prices fell and oil prices were steady. Copper prices touched their highest in over two weeks.
In corporate news, Zara founder Amancio Ortega's investment vehicle Pontegadea Inversiones has agreed to acquire a 49% stake in PD Ports from Brookfield Asset Management BAM.TO.
In the U.S., Alphabet GOOGL.O and Tesla TSLA.O will kick off the results season for the "Magnificent Seven" stocks later in the day.
Canada's main stock index rose on Tuesday, led by mining shares.
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(Reporting by Sanchayaita Roy; Editing by Sahal Muhammed)
((Sanchayaita.Roy@thomsonreuters.com;))
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