Stock futures pointed to a moderately higher opening for Canada's main stock index Monday as oil prices edged up after touching multi-month lows earlier in the day
The S&P/TSX composite index stumbled 103.21 points to finish Friday and a short week at 14,302.70.
The Canadian dollar nicked ahead 0.03 cents to 76.16 cents U.S. early Monday
German salt and fertilizer company K+S AG said 84% of private shareholders it surveyed backed its decision to reject Potash Corporation’s takeover offer.
Only about 4% of the 39,000 shareholders who participated in the survey said they would accept a 41-euro-per-share offer from Potash Corp, it said. Potash Corp has been pushing to talk with K+S management despite the German company's initial rejection last month of the Canadian company's 7.9-billion-euro bid
National Bank Financial raised the target price on New Flyer Industries to $20 from $18 as the company’s manufacturing segment continues to impress and based on the second quarter results.
Among companies reporting earnings today, Carmanah Technologies, expecting Q2 earnings of five cents per share
Copper Mountain Mining is expecting Q2 earnings of breakeven per share
Delphi Energy is expecting a Q2 loss of one cent per share
ON BAYSTREET
The TSX Venture skidded 4.43 points Friday to 576.60.
ON WALLSTREET
U.S. stock futures were uniformly positive, and the U.S. dollar is rising against a range of other currencies.
Ahead of the opening bell, futures for the Dow Jones Industrials galloped 120 points, or 0.7%, to 17,441, futures for the S&P acquired 14.25 points, or 0.7%, to 2,087.75, and futures for the NASDAQ gained 29 points, or 0.6%, to 4,516.75
Shares in airplane parts manufacturer Precision Castparts are surging by about 20% pre-market after Warren Buffett's firm Berkshire Hathaway announced it is buying the company.
The deal is valued at $37.2 billion U.S., which includes debt.
Berkshire already holds a 3% stake in the company, which is based in Portland, Oregon.
There are a handful of major firms reporting earnings after the closing bell, including Kraft Heinz and Shake Shack.
European markets are slipping in early trading.
Asian markets ended with mixed results, with Chinese stocks surging. The Shanghai Composite shot up nearly 5% Monday after enduring some extreme volatility over the past few months.
Oil prices increased 36 cents to $44.23 U.S. a barrel
Gold prices inched up 10 cents to $1,094.20 U.S. an ounce.
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