Stock futures pointed to a lower opening for Canada's main index on Monday as Brent crude prices fell below $40.00 a barrel after Iran dashed hopes that there would be a coordinated production freeze any time soon
The S&P/TSX Composite Index leaped 142.86 points, or 1.1%, to finish Friday and the week at 13,522. March futures were down 0.3% Monday morning.
The Canadian dollar sank 0.12 cents to 75.54 cents U.S. early Monday.
Sources say Valeant Pharmaceuticals Inc is under pressure from investors to introduce more transparency into its operations and expand its management ranks to regain credibility in the investment community
RBC cut the target price on Veresen Inc to $12.00 from $16.00
ON BAYSTREET
The TSX Venture Exchange gained 1.83 points Friday to 574.78
ON WALLSTREET
U.S. stock futures are looking soft, even as other global markets rally.
Ahead of the opening bell, futures for the Dow Jones Industrials capsized 29 points, or 0.2%, to 17,062, futures for the S&P 500 fell five points, or 0.3%, to 2,005.5. NASDAQ futures slid 11 points, or 0.3%, to 4,334
South of the border, shares in Fresh Market could see higher-than-normal trading volumes after Reuters reported that private equity firm Apollo Global Management is nearing a deal to acquire the specialty grocery chain for $1.3 billion U.S.
Shares in FMC Technologies surged in extended trading after Goldman Sachs analysts reportedly upgraded the energy equipment company to a buy rating.
Shares in Devon Energy are slipping in pre-market trading. S&P Dow Jones Indices announced Friday evening it was removing the company from the S&P 100 index. Its shares have fallen by about 70% since hitting a peak in the summer of 2014.
Oil and natural gas prices are slipping on Monday.
Iran said at the weekend it wouldn't participate in an OPEC production freeze until it is pumping four million barrels per day. That's 700,000 barrels per day more than it said it produced in January.
European markets are jumping in early trading, while Asian markets all ended the day with gains.
Oil prices dipped $1.08 to $37.42 U.S. a barrel
Gold prices surged six dollars to $1,255.45 U.S. an ounce.
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