Stock futures pointed to a higher opening for Canada's main stock index as oil prices rose after Russia said it was ready to meet other producers to discuss the market.
The S&P/TSX composite index gained 97.35 to end Friday and the week at 13,339.74, after reaching an October 2013 low last Monday.
The Canadian dollar gained 0.25 to 76.27 cents U.S. early Monday
Suncor Energy launched an unsolicited tender offer to buy Canadian Oil Sands Ltd in an all-stock deal valued at about $4.3 billion. Each Canadian Oil Sands shareholder will receive 0.25 Suncor shares for each share held. Including Canadian Oil Sands' debt of $2.3 billion as of June 30, the deal is valued at about $6.6 billion.
Bombardier Inc. is in discussions with the Caisse de depot et placement du Quebec, which manages Quebec's public pension plans, on a deal that could inject more cash into the troubled plane and train maker, according to two sources familiar with the matter. It was not immediately clear how a potential deal would be structured.
Power plant supplier APR Energy Plc said it was in talks to be bought out by a consortium that includes its largest shareholder, Fairfax Financial Holdings Ltd. APR said there was no certainty that any firm offer would be made by the consortium, which also includes ACON Investments LLC and Albright Capital Management LLC.
Potash Corp of Saskatchewan said it had withdrawn its 7.9-billion-euro offer for German potash producer K+S, citing a decline in global commodity and equity markets and a lack of engagement by K+S management. An acquisition of K+S would have given Potash Corp an opportunity to realize savings from selling potash within North America from its own Western Canada mines and from K+S's Legacy mine, which is under construction in the region.
National Bank Financial resumes coverage on Oceanagold Corp. with an outperform rating and $3.50 price target following closing of the Romarco acquisition earlier announced on July 30
ON BAYSTREET
The TSX Venture Exchange dropped 0.33 points Friday to 525.56
ON WALLSTREET
U.S. stock futures are ticking higher. Many European markets are rallying by about 2% to 3% and Asian markets ended Monday with solid gains.
Ahead of the opening bell, futures for the Dow Jones Industrials jumped ahead 103 points, or 0.6%, to 16,480, futures for the S&P 500 picked up 13 points, or 0.7%, to 1,956, and futures for the NASDAQ moved higher 27.25 points, or 0.6%, to 4,288.5.
Investors are urged to watch trading in Twitter this morning after the tech company announced that co-founder Jack Dorsey would become the firm's permanent CEO. He will continue to also serve as chief executive of Square. The shares are trading about 1.5% higher pre-market.
Shares in Volkswagen are dropping by another 3% to trade around a four-year low. The stock has fallen by about 40% since mid-September after the company was caught cheating on emissions tests. Analysts at Credit Suisse recently forecast that in a worst case scenario the scandal could cost the company as much as $87 billion U.S. The company has to detail its proposed fix for 11 million vehicles by Wednesday.
Shares in Tesla could be on the move after the electric car company reported solid quarterly sales of its Model S sedan. Third-quarter sales were flat compared to the second quarter, but were up by 49% compared to the same period a year earlier.
American Apparel's stock is set for another drop after the embattled clothing company filed for Chapter 11 bankruptcy protection on Monday. The move is far from a surprise since American Apparel said in August it had "substantial doubt" that it would stay in business. Shares in the business have fallen by nearly 90% since the start of 2015.
Google is officially becoming Alphabet today on the stock market after the company announced a shake-up to its corporate structure. Alphabet is now the parent company of Google and other tech business units.
Shareholders in Google will now own Alphabet class A or Alphabet class C shares. The ticker symbols -- GOOGL and GOOG -- remain unchanged.
There's only one earning report to watch Monday. The Container Store will post quarterly results this afternoon.
On the economic front, the U.S. Institute for Supply Management will post monthly data about the performance of the service industry at 10 a.m. ET. Growth in services scaled back slightly in August after an unusual boost in July.
Oil prices picked up 38 cents to $45.92 U.S. a barrel
Gold prices faded $2.27 to $1,136.33 U.S. an ounce.
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