Futures for Canada's main stock index were higher on Monday, tracking global markets, after the U.S. and Chinese leaders agreed a temporary truce in their trade dispute.
The S&P/TSX Composite Index progressed 18.95 points to end Friday and the week at 15,212.99, after spending much of the day in the red.
The Canadian dollar spiked 0.46 cents at 75.89 U.S. early Monday
December futures rocketed 0.9% Monday.
Nutrien is set to auction its 23.8% share in Chile's SQM on Monday, the final step in completing the sale of a coveted stake in the world's number-two lithium producer to China's Tianqi.
Institutional Shareholder Services Inc (ISS) has recommended shareholders to vote in favour of Detour Gold Corp's plans at the upcoming special shareholders meeting, giving the gold miner a boost in its proxy fight with activist investor Paulson & Co.
The U.S. State Department will conduct another environmental review of the TransCanada Corp's long-pending Keystone XL oil pipeline, a U.S. official said on Friday, a move that could lead to additional delays of the project.
CIBC cut the price target on to $63.00 from $79.00
In the economic docket, the headline seasonally-adjusted IHS Markit Canada Manufacturing Purchasing Managers’ Index registered 54.9 in November, up from 53.9 in October, to signal the sharpest improvement in business conditions since August.
ON BAYSTREET
The TSX Venture Exchange fell 1.95 points to end Friday at 589.17
ON WALLSTREET
U.S. stock market futures surged after U.S. President Donald Trumpand Chinese President Xi Jinping agreed to a 90-day ceasefire in the trade war that has weighed heavily on global stock markets for most of 2018.
Futures for the Dow Jones Industrials jumped 434 points, or 1.7%, to 25,973. Big multinationals like Caterpillar and General Motors were set to lead the gains.
S&P futures leaped 39 points, or 1.4%, to 2,797.25, while the NASDAQ Composite -- home of many technology companies that sell to China -- hoisted 141.75 points, or 2%, to 7,091.25.
Futures on oil and copper jumped on hopes a possible new China-U.S. trade agreement would boost global economic growth.
The two leaders, who met for dinner on Saturday at the G-20 summit in Argentina, agreed to hold off on additional tariffs on each other's goods at the start of the new year to allow for talks to continue. The U.S. agreed to leave tariffs on more than $200 billion worth of Chinese products at 10%.
If after 90 days the two countries are unable to reach an agreement, that rate will be raised to 25%, according to the White House. Trade negotiations will address forced technology transfer and intellectual property.
Shares of General Motors jumped 4% in pre-market trading and Ford and Tesla added 3% apiece after President Trump tweeted that China agreed to cut tariffs on U.S. cars sold into China.
Overseas, in Japan, the Nikkei 225 sprinted 1% Monday, while in Hong Kong, the Hang Seng index popped 2.6%
Oil prices gained $2.39 to $53.32 U.S. a barrel.
Gold prices added $11.80 to $1,237.80 U.S. an ounce.
