TSX to Enjoy Slight Gains at Open

Rogers-Shaw Situation in Focus

Futures for Canada's main stock index inched higher on Monday on gains in bullion and crude prices, although recession fears weighed on sentiment.

The S&P/TSX regained 339.28 points, or 1.8%, to end Friday at 19,056.40. On the week, the index gained 132 points, or 0.7%.
September futures gained 0.1% Monday.

Canada’s competition bureau says the body, Rogers Communications and Shaw Communications have agreed to start a mediation process to overcome the agency's anti-trust issues posed by Rogers' $20-billion acquisition of Shaw.

CIBC cut the rating on Ascot Resources to neutral from outperform.

CIBC initiated coverage on Cardinal Energy with a neutral rating.

CIBC cut the rating on Equinox Gold to underperform from neutral.

CBC News quoted Finance Minister Chrystia Freeland as saying Canada still has a path to a "soft landing," where it could stabilize economically after the blow by the COVID-19 pandemic, without facing a severe recession that many fear.


The TSX Venture Exchange gained 15.54 points, or 2.5%, to 647.33 Friday, for a weekly gain of nearly seven points or 1.1%.


U.S. stock futures rose on Monday morning following a major rebound last week from this year’s steep declines. Despite the bounce, Wall Street is preparing to wrap up the worst first half for stocks in decades.

Futures for the Dow Jones Industrials were hoisted 106 points, or 0.3%, early Monday to 31,593.

Futures for the S&P 500 advanced 17.75 points, or 0.5%, to 3,934.

Futures for the NASDAQ Composite index picked up 71.25 points, or 0.6%, to 12,211.75.

Those moves followed a major comeback week that saw the Dow jump more than 800 points, or 2.7%. The S&P 500 popped 3.1%, and the NASDAQ surged 3.3%.

The S&P 500 is up 7.5% since hitting a bear-market low in mid-June, although the benchmark is still off 19% from its high and 18% since the year began.

On the economic front, Wall Street is expecting the latest reading of durable goods orders to come out Monday before the bell.

Traders are also watching for the pending home sales report, which is expected at 10 a.m. ET on Monday.

In Japan, the Nikkei 225 jumped 1.4% Monday. In Hong Kong, the Hang Seng popped 2.4%

Oil prices gained 55 cents to $108.17 U.S. a barrel.

Gold prices increased $5.50 to $1,835.80 U.S. an ounce.