Stock futures indicated a lower opening for Canada's main stock index as oil prices slipped following the OPEC's move to maintain its production and as China's fuel imports dipped.
The S&P/TSX composite index dropped 62.23 points to end Friday at 14,957.16
The Canadian dollar was unchanged at 80.42 cents U.S. early Monday.
Air Canada is considering adding around 10 Airbus A321 narrowbody jets to the fleet of its low-cost vacation carrier Rouge, up from previous plans for five, the Toronto-based carrier's chief executive said on Sunday. Rouge currently has 32 planes - 20 of the narrowbody A319s made by Airbus and 12 widebody Boeing 767 jets and plans to increase this to 50 in 2018.
A WestJet Airlines plane skidded off the runway while landing at Montreal's main airport on Friday, but there were no injuries, the airline said in a statement. The flight, WestJet 588 from Toronto, stopped about 50 feet onto the grass at the end of the runway, WestJet said, adding that there was no visible damage to the plane.
Canaccord Genuity initiated coverage on Gibson Energy with a buy rating saying that the company’s integrated model provides multiple revenue touch points.
Canaccord Genuity started coverage on Innova Gaming with a buy rating stating that the company has significant near-term growth potential.
Economically speaking, Statistics Canada reported that building permits in April totaled $7.8 billion, up 11.6% from March. The agency attributes the gain in April to higher construction intentions in both the residential and non-residential sectors in Ontario.
Moreover, Canadian housing starts jumped much more than expected in May from April, suggesting the country's post-crisis housing boom still has momentum.
The report from the Canadian Mortgage and Housing Corp showed the seasonally-adjusted annualized rate of housing starts rose to 201,705 units in May from an upwardly revised 183,329 in April. Forecasters had expected 185,000 starts.
ON BAYSTREET
The TSX Venture Exchange regained 5.69 points Friday to 689.62.
ON WALLSTREET
U.S. stock futures are relatively stable ahead of the open while European stock markets are mostly dipping in early trading.
Ahead of the opening bell, futures for the Dow Jones Industrials eked up two points to 17,844, futures for the S&P 500 docked 1.25 points, or 0.1%, to 2,091, and futures for the NASDAQ faded 2.25 points, or 0.1%, to 4,479.25.
Investors and tech geeks alike are eagerly awaiting Apple's annual Worldwide Developers Conference, which kicks off Monday. Tim Cook is expected to announce the latest iPhone and Mac features, which could cause Apple's stock to swing.
The benchmark DAX 30 index in Germany is nearing correction territory, down by roughly 9% since its all-time closing high on April 10. The DAX was one of the hottest stock markets in the world at the start of the year, but was quickly outpaced by indexes in China.
Shares in two major European companies -- Deutsche Bank and Diageo -- both gained as much as 8% in early trading.
Diageo shares are up based on a Brazilian report that says billionaire Jorge Paulo Lemann is considering a takeover bid for the drinks giant.
Lemann's investment firm 3G Capital has major investments in Burger King, Heinz and Anheuser-Busch InBev, and strong ties with Warren Buffett.
Asian stock markets ended with mixed results.
Oil prices slid 37 cents to $58.76 U.S. a barrel
Gold prices hiked $4.60 at $1,172.70 U.S. an ounce.
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