Stock futures for Canada's main stock index were higher on Monday, helped by a bounce in oil prices following top producers Saudi Arabia and Russia's comment on the extension of a supply cut.
The S&P/TSX Composite Index dipped 12.67 points to close the day and the week at 15,537.88. June futures gained 0.2% Monday
The Canadian dollar moved up 0.57 cents to 73.49 cents U.S. early Monday.
SNC-Lavalin will not raise its offer for British engineering and construction firm WS Atkins unless it faces a rival bid for the British firm.
Bank of Canada Governor Stephen Poloz told the Globe and Mail that Home Capital Group's problems are contained but the sharp gains in Canadian home prices and their possible impact on the financial system are a primary concern for the central bank.
Eldorado Gold has agreed to buy the remaining shares of Integra Gold, to expand its mining opportunities in the Eastern Abitibi region of Canada.
Canaccord Genuity raised the price target on Amaya to $31.00 from $29.00
Canaccord Genuity raised the price target on Onex Corp. to $111.00 from $108.00
National Bank of Canada raised the target on Valener to $23.00 from $22.00
ON BAYSTREET
The TSX Venture Exchange gained 5.26 points Friday to 793.64
ON WALLSTREET
U.S. stock index futures pointed to a higher open on Monday as traders digested news of an extension of an agreement to freeze oil output.
Ahead of the opening bell, futures for the Dow Jones Industrials hiked 52 points, or 0.3%, to 20,900. Futures for the S&P 500 eked up 4.5 points, or 0.2%, to 2,393.25. NASDAQ futures added one point to 5,690.
Oil prices jumped after the Saudi Arabian and Russian energy ministers said in a joint statement that an crude production cut led by the Organization of the Petroleum Exporting Countries would be extended from the middle of this year until March 2018.
Among companies reporting earnings, Nippon Telegraph and Trivago posted quarterly results before the bell. Vipshop and Noah Holdings are all due to report after the market close.
On the data front, Monday will see the release of the empire state manufacturing data at 8:30 am ET and the national association of home builders’ survey at 10 am ET.
European bourses fell just below breakeven Monday, while the Nikkei 225 in Japan doffed 0.1%, and the CSI 300 in Shanghai gained 0.4%.
Oil prices took on $1.65 to $49.49 U.S. per barrel.
Gold prices gained $6.30 to $1,234 U.S. an ounce.
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