Stock futures pointed to a lower opening for markets in Toronto on Monday after Chinese data rekindled global growth worries.
The S&P/TSX composite index plummeted 132.34 points, or 1%, to end 2015 at 13,009.95. The TSX collapsed 11% in 2015 to close out its worst year since the global financial crisis of 2008.
March futures were down 1.5% Monday morning.
The Canadian dollar ducked 0.35 cents to 71.83 cents U.S. early Monday.
Canadian Oil Sands urged its shareholders to let Suncor Energy's unsolicited bid lapse, emphasizing that the company could remain independent.
Billionaire investor William Ackman said on Thursday he sold about five million shares in drug company Valeant International in order to generate a tax loss as investors in his Pershing Square Capital Management face the biggest loss in the company's history.
CIBC raised the rating on CAE Inc. to outperform from sector performer
BMO cut the target price on Canadian Pacific Railway to $210 from $230 with an outperform rating
BMO raised the rating on Dollarama to outperform from market perform.
Economically speaking, The RBC Canadian Manufacturing Purchasing Managers' index for December is due at 9:30 a.m. ET
ON BAYSTREET
The TSX Venture Exchange gained 4.73 points on Thursday, New Year’s Eve, to 525.59
ON WALLSTREET
Global stocks are sliding fast on the first trading day of 2016 after China suspended its markets early due to heavy losses.
Ahead of the opening bell, futures for the Dow Jones Industrials tumbled 293 points, or 1.7%, to 17,048, futures for the S&P 500 dipped 34 points, or 1.7%, to 2,049.5. NASDAQ futures were unavailable at press time.
Shares in Illinois-based drugmaker Baxalta were up as much as 15% on reports it is set to announce a takeover by London-listed competitor Shire.
Netflix is falling 5.4% in pre-market trading. Despite slowing U.S. subscriber growth, Netflix was one of the best performing stocks in the S&P 500 in 2015.
Other companies suffering pre-market include Alcoa, Facebook, Apple and Cisco.
The U.S. ISM Manufacturing Index data for December is expected at 10 a.m. ET. The index has been declining for five months and slipped below the neutral level of 50 in November, signaling a contraction in manufacturing.
Germany will publish its December inflation data at 8a.m. ET.
European markets all fell in early trading. The FTSE 100 is down almost 2.6%. German DAX is down 4.3% and France's CAC 40 down 2.7%
Asian markets ended the first session of the year sharply lower. Tokyo's Nikkei 225 slid 3%, Hong Kong's Hang Seng was down 2.7%, and Seoul's Kospi Composite shed 2.2%
China halted stock trading on Monday after weak manufacturing data spooked investors and sent shares plummeting. The benchmark Shanghai Composite shed 6.9%, while the Shenzhen Composite lost more than 8%.
The trading halt was China's first-ever use of circuit breakers -- a kind of emergency brake -- on its main exchanges.
Oil prices nicked up 42 cents to $37.46 U.S. a barrel
Gold prices jumped $17.23 to $1,078.33 U.S. an ounce.
Related Stories
