Equities in Canada’s largest centre higher shortly after the open on Monday with most sectors making gains following losses in the previous two sessions.
The S&P/TSX composite index regained 99.57 points to begin a new week at 14,402.27.
The Canadian dollar was unchanged at 76.13 cents U.S.
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.
Potash shares took on 28 cents to $35.36.
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.
New Flyer shares gained 22 cents, or 1.2%, to open at $18.10
Among companies reporting earnings today, Carmanah Technologies, expecting Q2 earnings of five cents per share.
Carmanah shares dipped seven cents, or 1.2%, to $5.78.
Copper Mountain Mining is expecting Q2 earnings of breakeven per share.
Copper Mountain shares rocketed four cents, or 5.4%, to 78 cents.
Delphi Energy is expecting a Q2 loss of one cent per share. Delphi shares slumped six cents, or 6.5%, to 86 cents.
ON BAYSTREET
The TSX Venture inched higher 0.92 points to 577.52.
All but one of the 14 TSX subgroups were higher in the first hour, led by gold, shining 2.1%, brighter, while global base metals and materials each surged 1.6%
Consumer staples slouched 0.2%.
ON WALLSTREET
U.S. stocks traded about 1% higher on Monday, bouncing from sharp declines last week, as encouraging developments in Greece and morning corporate deal news boosted sentiment.
The Dow Jones industrial average began the session up 185.46 points, or 1.1%, to 17,558.84, as Caterpillar and Boeing led nearly all blue chips higher.
The S&P 500 hiked 19.61 points to 2,097.18. Industrials gained more than 1.5% to lead all sectors in the S&P 500 higher.
The NASDAQ index sprang up 53.1 points, or 1.1%, to 5,096.65
Precision Castparts surged 19% on news that Warren Buffett's Berkshire Hathaway will acquire the maker of aircraft equipment for $235 U.S. a share, making for an all-cash deal of about $37.2 billion U.S..
IBM edged higher after Buffett said on CNBC that "he loves it" when IBM's stock price goes down because the company can repurchase shares at better prices. Buffett's Berkshire Hathaway has an 8.12% stake in IBM, according to recent filings.
As earnings season winds down, reports from Credicorp, Kraft Heinz, Rackspace, and Shake Shack are all due after the bell.
In other corporate news, Alibaba announced a 19.99% stake of 28.3 billion yuan ($4.56 billion U.S.) in Chinese electronics retailer Suning Commerce Group.
U.S. inflation is "very low" but only temporarily so, and the economy has nearly achieved full employment, Federal Reserve Vice Chairman Stanley Fischer said on Monday on Bloomberg TV.
Atlanta Fed's Dennis Lockhart is due to speak at 12:25 p.m. ET. In the past few days, he sent ripples through the markets when he said that in his view he saw no reason to hold off on a September rate hike.
Prices for 10-year U.S. Treasuries sagged, upping yields to 2.22% from Friday’s 2.17%. Treasury prices and yields move in opposite directions.
Oil prices faded 21 cents a barrel to $43.66 U.S.
Gold prices inched up 80 cents to $1,094.90 U.S. an ounce.
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