Canada's main stock index futures rose on Monday as a global slowdown in coronavirus-related deaths and new cases boosted investor sentiment.
The TSX Composite Index sifted off 159.54 points, or 1.92, off its lows of the day, to close Friday at 12,938.30. Even so, the index gained more than 250 points, or nearly 2%, on the week.
The Canadian dollar added 0.54 cents early Monday to 70.52 cents U.S.
June futures sprang up 3.3% early Monday.
Australia's Fortescue Metals Group said it had signed a deal with the local unit of Canadian utilities company ATCO Ltd to build and operate hydrogen refuelling facilities for vehicles in Western Australia.
Canada's Big Six banks all said they will reduce interest rates on credit cards to provide relief to customers affected by the COVID-19 pandemic.
Canaccord Genuity cut the target price on CI Financial to $16.00 from $29.00
CIBC cuts target price on Docebo to $18.00 from $22.00
CIBC cut the target price on Enghouse Systems to $50.00 from $59.00
ON BAYSTREET
The TSX Venture Exchange sank 2.22 points to 383.94. The Venture Exchange backtracked 4.64 points, or 1.19%, on the week.
ON WALLSTREET
Stocks in New York signaled they were on the way up, sharply, amid hope that the pace of deaths from COVID-19 was slowing.
Futures for Dow Jones Industrials spiked 786 points, or 3.8%, early Monday to 21,743.
Futures for the S&P 500 moved upward 94.25 points, or 3.8%, at 2,577.
Futures for the NASDAQ Composite leaped 287 points, on 3.8%, to 7,809.75.
Contracts on all three main American gauges rallied after New York state fatalities fell for the first time and President Donald Trump said he sees signs the pandemic is beginning to level off.
The Stoxx Europe 600 Index jumped led by automakers and travel and leisure shares after Italy and Spain said they had the fewest deaths in more than two weeks, and Germany and France reported the lowest numbers in days
Overseas, in Japan, the Nikkei 225 hiked 4.2% Monday, while Hong Kong, the Hang Seng Index jumped 2.2%.
Oil prices faded 60 cents to $27.74 U.S. a barrel.
Gold prices popped $23.90 to $1,669.60 U.S. an ounce.
