Stock futures pointed to a higher opening for equity markets in Toronto on Monday after lower-than-expected euro-zone inflation data raised expectations that the European Central Bank could ease monetary policy.
The S&P/TSX composite index grew 81.88 points to close the week at 14,260.72. Futures in Toronto rose 0.2% early Monday.
The Canadian dollar gained 0.20 cents to 90.60 cents U.S. early Monday
Canadian National Railway Co and the union representing its conductors, yard workers, and traffic coordinators have agreed to start an arbitration process that ensures their most recent contract dispute will not lead to a strike at the rail operator.
Sterigenics, a sterilization services provider owned by private equity firm GTCR LLC, has reached a deal to buy medical isotopes supplier Nordion Inc for $727 million.
On the economic beat, Statistics Canada reported this morning that real gross domestic product rose 0.5% in January. This follows a 0.5% decline in December after five consecutive monthly increases.
ON BAYSTREET
The TSX Venture Exchange gained 4.38 points Friday to 989.73
ON WALLSTREET
Markets look set to end a lackluster first quarter on a positive note.
Ahead of the opening bell, futures for the Dow Jones Industrials picked up 47 points, or 0.3%, to 16,287. Futures for the S&P 500 advanced 7.4 points, or 0.4%, to 1,857.80, and futures for the NASDAQ rocketed 15.75 points, or 0.4%, at 3,578.75
The S&P has eked out a gain of 0.5% over the year to date, but the Dow remains stuck in the red, still down 1.5% during the quarter.
There is little economic or corporate news on the docket Monday, but investors are gearing up for a busy week which concludes with jobless data Friday.
In corporate news, Blackberry shares fell in pre-market trading after the struggling smartphone maker received a series of analyst downgrades Monday morning.
After enjoying an early boost in 2013 on hopes of new CEO John Chen's turnaround strategy, Blackberry has tanked in recent days despite reporting a narrower-than-expected loss.
Google shares edged up a day ahead of the tech giant's much anticipated two-for-one stock split in which shareholders will get another share for each one they own currently. The stock split was first announced two years ago, but was held up by a legal battle in which some shareholders raised objections.
European markets were mixed in midday trading, following lower-than-expected euro-zone inflation data released Monday. The weak number is likely to revive talk that the European Central Bank could act Thursday to boost the economy.
Asian markets ended mixed. The Shanghai Composite dropped 0.4% as investors wait for clarity from Beijing on possible new stimulus measures. The benchmark index has lost almost 4% this year on worries over slower economic growth in China.
Oil prices dipped 26 cents to $101.41 U.S. a barrel
Gold prices gained $1.30 at $1,295.10 U.S. an ounce.
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