Equity markets in Canada were set to follow global markets higher on Monday, helped by optimism over U.S. President Donald Trump's tax reform plans and a rebound in certain commodity prices.
The S&P/TSX Composite muscled up 111.82 points to close Friday and the week at 15,729.12, with March futures forging ahead 0.1%.
The Canadian dollar inched up 0.07 cents to 76.3 cents U.S. early Monday.
Restaurant Brands International Inc., the owner of Burger King and Tim Hortons, reported a quarterly profit that more than doubled from a year ago, when it recorded a one-time charge related to the merger of the two brands.
First Quantum Minerals reported that heavy rains have cut access in and out of its Ravensthorpe nickel-producing operations in Western Australia.
Barclays raised the target price on Bank of Montreal to $86 from $82
Canaccord Genuity cut the target price on Cara Operations to $29.00 from $34.00
National Bank Financial cut the rating on TransAlta Corp. to sector perform from outperform
ON BAYSTREET
The TSX Venture Exchange vaulted 10.28 points, or 1.2%, to end Friday at 836.16
ON WALLSTREET
U.S. stock index futures pointed to a higher open on Monday as traders eyed earnings and looked ahead to comments from the U.S. Federal Reserve later in the week.
Ahead of the opening bell, futures for the Dow Jones Industrials gained 56 points, or 0.3%, to 20,279. Futures for the S&P 500 picked up five points, or 0.2%, to 2,317.75. NASDAQ futures hiked nine points, or 0.2%, at 5,235.75.
On the earnings front, Restaurant Brands International, Teva Pharma and First Data are among the companies that posted results before the bell. Arch Capital Group, Noble Energy, Vornado Realty and OneMain Holdings are all due to report after the market close.
There are no major macroeconomic data releases scheduled on Monday.
In Europe, markets surged by late morning on Monday. In Asia, the CSI 300 in Shanghai closed 0.7% higher, while the Nikkei in Japan closed 0.4% higher.
Oil prices fell 41 cents to $53.45 U.S. a barrel
Gold prices slipped $8.10 to $1,227.80 U.S. an ounce.
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