Stock futures pointed to a lower opening for markets in Toronto, tracking weakness in the global markets as investors turned cautious over terms of Britain’s exit from the European Union
The S&P/TSX Composite gained 79.12 points to conclude Friday and the week at 15,497.28
The Canadian dollar dropped 0.08 cents to 76.09 cents early Monday
CIBC cut the rating on AGF Management to underperform from neutral based on divergence in the stock price and fundamental performance.
National Bank Financial raised the price target on Intact Financial to $105.00 from $98.00 saying a combination of strong operating performance, defensive investment characteristics, solid management team, acquisition potential, and relatively benign regulatory environment merit a premium multiple.
Canaccord Genuity raises price target on Onex Corp. to $100.00 from $95.00 reflecting a 5% premium to its forward NAV calculation on the company’s proprietary investment capital.
On the economic beat, the Canadian Real Estate Association reported that MLS sales rose 2.2 % month-over-month in December. CREA reports the rebound recovered less than half of the drop in activity from October to November, when it posted the biggest monthly retreat in more than four years after tightened mortgage regulations came into effect.
Oil prices faded seven cents to $52.30 U.S. a barrel
Gold prices moved up $6.90 to $1,203.10 U.S. an ounce.
ON BAYSTREET
The TSX Venture Exchange moved 4.9 points higher Friday to 794.54
ON WALLSTREET
American markets are closed Monday for Martin Luther King Day.
