Stock futures pointed to a lower start for markets in Toronto on Monday as oil prices dropped after Britain's vote to leave the European Union sparked a sharp selloff in global markets.
The S&P/TSX Composite tumbled 239.5 points, or 1.7%, to close Friday and the week at 13,891.88. September futures slid 1% Monday.
The Canadian dollar subsided 0.22 cents to 76.7 cents early Monday
Raymond James raised the target price on B2Gold Corp to $3.75 from $2.75
Raymond James raised the target price on First Majestic Silver to $11.25 from $8.00
Goldman Sachs raised the target price on Lundin Mining to $3.80 from $2.80
Raymond James raised the target price on Tahoe Resources to $22.25 from $18.00
ON BAYSTREET
The TSX Venture Exchange squeezed up 0.57 points Friday to finish the week at 710.79
ON WALLSTREET
Uncertainty reigned on Monday as markets opened for the first time since the Brexit vote on Friday.
Ahead of the opening bell, futures for the Dow Jones Industrials tumbled 122 points, or 0.7%, to 17,125, while futures for the S&P 500 slid 14.25 points, or 0.7%, to 2,004.25. NASDAQ futures faded 35 points, or 0.8%, to 4,227.25.
In U.S. economic news, the advance May trade deficit was $60.59 billion. No major earnings were expected.
Markets in Asia ended the day mixed. The benchmark Nikkei index in Japan gained 2.4%, rebounding after a steep decline on Friday. The Shanghai Composite in China rose 1.5% and Hong Kong's Hang Seng fell 0.03%.
Things were worse in Europe. London's benchmark FTSE 100 index shed 2%. The broader FTSE 250, which is a better barometer of the British economy, was down about 6.2%. The DAX in Germany was 2.3% lower, and the CAC in France was down 2.2%. Stocks in Ireland, which is a major trade partner with the U.K., fell more than 8%.
Oil prices slipped 92 cents to $46.72 U.S. a barrel
Gold prices gained $10.10 to $1,332.50 U.S. an ounce.
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