Stock futures pointed to a lower opening for Canada's main stock index, tracking global shares, after Greek voters rejected bailout terms for a debt deal, raising concerns about the country's exit from the euro zone
The S&P/TSX composite index added 44.4 points to close Friday at 14,682.39.
The Canadian dollar faded 0.43 cents to 79.12 cents U.S. Monday
Husky Energy Inc said operations will be suspended for about six to eight weeks due to unplanned maintenance work at its Lloydminster Upgrader in Saskatchewan. The maintenance activity is underway and will repair the facility's coke drums, the company said on Friday, adding that upstream heavy oil production was not expected to be impacted.
Manulife Financial Corp shelved its 569-million-Singapore-dollar IPO of a real estate investment trust in Singapore on Monday, the first major Asian offering outside China to be pulled due to deteriorating global markets.
A German regional minister gave his backing to potash miner K+S's rejection of an 8.8-billion-euro takeover bid by Potash Corporation, saying K+S should remain a German company. K+S has rejected a proposed bid by Potash of 41 euros per share, saying it was too low and warning its suitor could be planning to dismantle or shrink the salt and fertilizer company.
Canaccord Genuity raised the target price on Alamos Gold Inc to $9.00 from $8.50 based on the merger of equals with AuRico Gold the combination of both companies creates a higher quality intermediate gold producer.
RBC raised the rating on Capstone Infrastructure Corp. to outperform from sector perform as the company has an attractive portfolio of long-term contracted facilities in Canada, and low-risk utilities in Western Europe.
On the economic beat, Western University’s IVEY Purchasing Managers’ Index is due out this morning at 10 a.m.
ON BAYSTREET
The TSX Venture Exchange dropped one point Friday to 670.58.
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ON WALLSTREET
U.S. stock futures are deep in negative territory, with investors taking their cue from Europe and Asia, where nearly all major stock markets are falling.
Ahead of the opening bell, futures for the Dow Jones Industrials plummeted 148 points, or 0.8%, to 17,501, futures for the S&P 500 fell 16.25 points, or 0.8%, to 2,052.50, and futures for the NASDAQ sank 34.50 points, or 0.8%, to 4,394.25.
Investors are selling shares in Rolls-Royce Holdings, which is one of the world's biggest manufacturers of aerospace engines. The stock is dropping by about 9% in London after the company warned about weaker-than-expected business trends in the first half of this year. The company is also halting its share buyback program.
European stock markets are down by roughly 1% to 2% as traders react to the results of Sunday's Greek referendum. The country voted by a wide margin to reject Europe's latest bailout offer. This raises the risk that the country could now suffer a worse economic disaster and lose its place in the euro.
Meanwhile, Chinese stocks remained volatile, despite a series of dramatic steps by officials over the weekend that were designed to support markets.
Oil prices went south $2.52 to $54.41 U.S. a barrel
Gold prices took on 90 cents at $1,164.40 U.S. an ounce.
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