The S&P/TSX composite index inched ahead 12.18 points to begin the week at 14,545.75
The Canadian dollar dipped 0.10 at 90.68 cents U.S.
Precision Drilling Corp. reported a 9% rise in first-quarter profit, helped by higher prices and strong drilling activity in North America and internationally. Precision shares galloped ahead 31 cents to $14.15
Air Canada's largest union has asked the labour board to treat the carrier, its low-cost Rouge subsidiary and an airline that provides its regional service, as a single employer, forcing them to honour Air Canada's contract with the union. The airline’s shares gave back seven cents to $7.50
Telus Corp hopes to press its advantage in an upcoming auction of wireless airwaves, so experts say the telecom giant may need to abandon its plan to snatch a floundering rival out of creditor protection and back away from a nasty fight with the federal government.
Telus shares gathered 41 cents to $38.45.
ON BAYSTREET
The TSX Venture Exchange recovered 5.29 points to 1,018.88
Seven of the 14 Toronto subgroups were higher as consumer staples popped 0.7%, with consumer discretionary and telecoms each climbing 0.4%.
The half-dozen laggards were weighed by gold, down 1.1%, global base metals, off 0.9%, and metals and mining, down 0.8%.
Information technology stocks were flat to begin Monday.
ON WALLSTREET
A flurry of corporate deal making helped give stocks a boost early Monday, but the gains were held in check by ongoing worries about Ukraine.
The Dow Jones Industrial Average rocketed 124.58 points higher to 16,486.04
The S&P 500 recouped 11.86 points to 1,875.26, and the NASDAQ composite index hiked 32.67 to 4,108.23.
Takeover talk is swirling through the markets Monday as Pfizer said it has been looking at a $100-billion U.S. bid for AstraZeneca, and General Electric is reportedly attempting to buy Alstom's power turbines business.
The British pound pushed up against the U.S. dollar, trading at its highest level since late 2008, in response to the possibility of a Pfizer takeover of AstraZeneca, noted Kit Juckes at Societe Generale.
Shares in AstraZeneca surged, while Pfizer shares were edging higher.
Both General Electric and Germany's Siemens are reportedly looking to buy the power divisions of France's Alstom, though French government officials are said to be concerned about a U.S. takeover.
Trading in Alstom shares has been suspended. The company promised to make a statement by Wednesday at the latest. General Electric has made no comment.
Siemens said it has proposed to discuss strategic options with Alstom, but declined further comment.
In other international news, the White House unveiled new sanctions against Russian officials and businesses in response to the escalating crisis in Ukraine. The sanctions target seven Russian officials and 17 entities, including banks and companies tied to Russia's energy industry.
In a major challenge to Kiev's new leaders, armed rebels aligned with Moscow have captured towns and government buildings across eastern Ukraine and are holding a team of European monitors hostage.
The Russian ruble, which has plunged versus the U.S. dollar recently, regained some ground as the sanctions appeared to be less severe than some had expected.
Meanwhile, shares of Bank of America fell after the Federal Reserve required the bank to resubmit its 2014 capital plan because BofA incorrectly reported data used to calculate its capital levels. BofA said it was suspending plans to hike its dividend and increase its share repurchase program.
Other early stock movers include Netflix which is down over 3% today after losses last week when the company announced strong earnings but said its costs are rising.Microsoft on the other hand, is up 1.5% this morning, another nice pop after its earnings last week and finalization of its deal with Nokia.
Corporate earnings continue to roll in from some major companies. Herbalife is one of several companies set to report quarterly results after closing bell.
Prices for 10-year U.S. Treasuries were unchanged, leaving yields at Friday’s 2.69%.
Oil prices took on 37 cents to $100.97 U.S. a barrel.
Gold prices dumped $1.30 at $1,299.50 U.S. an ounce.
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