Futures for Canada's main stock index inched higher on Monday after last week's rout, with trading
volumes expected to be subdued due to a U.S. holiday.
The S&P/TSX lost 73.58 points to close Friday and the week at 18,930.48. Over the last five session, the red ink amounted to 1,344 points, or 6.63%.
September futures climbed 0.4% Monday.
The Canadian dollar eked higher 0.07 cents to 76.98 cents U.S.
Quebecor Inc has agreed with Rogers Communications and Shaw Communications to buy Freedom Mobile for an enterprise value of $2.85 billion. Meantime, National Bank has raised the rating on Quebecor to outperform from sector perform.
Analysts are saying the risk of inflation becoming entrenched in Canada's economy is growing, as surging prices for gas and other highly visible consumer items undercut efforts by the Bank of Canada to keep expectations for price increases in check.
In Japan, the Nikkei 225 sank 0.7% Monday. In Hong Kong, the Hang Seng gained 0.4%
Oil prices hiked 67 cents to $110.23 U.S. a barrel.
Gold prices acquired 60 cents to $1,841.20 U.S. an ounce.
ON BAYSTREET
The TSX Venture Exchange squeezed higher 0.83 points Friday to 640.38, but on the week, the loss was 64 points, or 9.13%.
ON WALLSTREET
Markets in the U.S. are closed Monday for “Juneteenth”.
