Stock futures pointed to a higher opening for indexes in Canada’s biggest market on Monday, in a week where GDP data and federal budget will be in focus for investors.
The S&P/TSX Composite Index hiked 130.28 points Friday, to end the day and the week at 15,638.45
The Canadian dollar slumped 0.13 to 78.92 cents U.S. Monday morning.
March futures brightened 0.3% Monday.
Newcrest Mining said it had invested $250 million to buy a 27.1% stake in Canadian miner Lundin Gold as the gold major ramps up its exposure to Ecuador to secure growth.
Brookfield Energia Renovável SA, a Brazil-based unit of Canada's Brookfield Asset Management, abandoned a plan to make a capital injection of 1.4 billion reais in Brazil's Renova Energia SA, which would give it a controlling stake in the company.
TD Securities cut the target price on Pembina Pipeline to $51.00 from $53.00
RBC raised the target price on Onex Corp. to $105.00 from $103.00
ON BAYSTREET
The TSX Venture Exchange fell 3.1 points Friday to 826.09
ON WALLSTREET
U.S. stock index futures were sharply higher ahead of Monday's open.
Futures for the Dow Jones Industrial Average jumped 141 points, or 0.6%, to 25,455
S&P 500 futures added nine points, or 0.3%, to 2,757.75, while futures on the NASDAQ Composite took on 26.5 points, or 0.4%, to 6,936.25
In the corporate space, Dean Foods, Scripps Networks Interactive, and Fitbit are some of the companies due to issue earnings updates.
Investors will be waiting for news surrounding the National Rifle Association's relationship with leading businesses, with a growing list of companies choosing to end their partnerships following the mass shooting at a public high school in Florida.
Looking to Monday's session, in economic data news, new home sales are due out at 10 a.m. ET, followed by the Dallas Fed's Texas manufacturing outlook survey, set to be released at 10:30 a.m. ET. The Chicago Fed's National Activity Index will also come out at 8:30 a.m. ET.
Overseas, in Japan, the Nikkei 225 moved upward 1.2%, while in Hong Kong, the Hang Seng Index advanced 0.7%
Oil prices eked up two cents to $63.57 U.S. per barrel.
Gold prices leaped eight dollars to $1,338.30 U.S. an ounce.
