Stock futures pointed to a lower opening for Canada's main stock index as oil prices slipped towards a six-year low on data showing the economy of Japan, the world's third biggest oil consumer, contracted in the second quarter.
The S&P/TSX composite index gained 39.48 points to close Friday at 14,277.88
The Canadian dollar dipped 0.21 cents to 76.14 cents U.S. early Monday
BCE Inc said on Friday it has sold its 15% stake in the Globe and Mail to the Woodbridge Company, giving the investment vehicle of Canada's Thomson family full control of the country's biggest national newspaper.
BCE did not disclose the financial terms of the deal. The Woodbridge Company had already acquired majority control of the Globe and Mail in 2010 as part of a complex asset swap deal that saw BCE pay $1.3 billion for Canadian broadcaster CTV.
RBC cut the target price on Aimia Inc. to $14.00 from $15.00, says in the absence of the launch of a potential U.S. coalition loyalty program, analysts’ struggling to identify near-term catalysts for the stock.
Absolute Software Corp reports Q4 earnings today, expecting four cents per share
AgJunction Inc is expecting to break even on its Q2 earnings.
In the economic arena, Statistics Canada reported foreign investors added $8.5 billion of Canadian securities to their holdings in June, following a $5.5-billion divestment in May. At the same time, Canadian investors acquired $8.6-billion of foreign securities, all non-U.S. instruments.
ON BAYSTREET
The TSX Venture inched down 2.80 points Friday to 573.21.
ON WALLSTREET
U.S. stock futures inched lower and oil prices remained under pressure.
Ahead of the opening bell, futures for the Dow Jones Industrials sagged 32 points, or 0.2%, to 17,407, futures for the S&P sank 5.5 points, or 0.3%, to 2,084, and futures for the NASDAQ dipped 8.25 points, or 0.2%, to 4,523.5
There are a few company results to watch out for today, starting with earnings from Estee Lauder before the market open. Urban Outfitters will report this afternoon.
It was a mixed session across global markets. In Europe, Germany's DAX rose 0.4% while the U.K.'s FTSE index inched down 0.1%.
Over to Asia, China's Shanghai Composite closed up 0.7% and the yuan was steady against the U.S. dollar.
The stabilization in the Chinese currency helped restore some calm to trading after a surprise devaluation sparked a selloff on global markets last week.
Japan's economic recovery hit another stumbling block as data showed GDP contracted in the second quarter. The country's benchmark Nikkei index added 0.4%. Hong Kong's Hang Seng closed down 0.7%.
Oil prices fell 78 cents to $41.72 U.S. a barrel
Gold prices gained $3.80 to $1,116.50 U.S. an ounce.
