Stock futures pointed to a sharply higher opening for markets in Toronto on Monday after polls showed a diminishing chance that Britain may vote to leave the European Union later this week.
The S&P/TSX Composite held onto gains of 19.36 points to close Friday at 13,901.77. September futures climbed 0.9% Monday.
The Canadian dollar jumped half a cent to 78.06 cents early Monday
Kinross Gold has suspended activity at its Tasiast mine in Mauritania after the West African country ordered expatriates whose work permits were invalid to stop working.
RBC raised the target price of Gran Tierra Energy to $6.00 from $4.75
BMO raised the price target on TransCanada Corp. to $62.00 from $59.00
Economically speaking, Statistics Canada reported that wholesale sales edged up 0.1% to $54.8 billion in April, after two consecutive monthly declines.
Gains were recorded in three of seven sub-sectors, led by the miscellaneous sub-sector.
ON BAYSTREET
The TSX Venture Exchange gained 5.95 points Friday to 715.36
ON WALLSTREET
U.S. stocks futures are taking off like a Saturn rocket Monday, market sentiment being seriously swayed by politics in Britain right now.
Ahead of the opening bell, futures for the Dow Jones Industrials spiked 216 points, or 1.2%, to 17,775, while futures for the S&P 500 leaped 27.5 points, or 1.3%, to 2,086.50. NASDAQ futures jumped 58 points, or 1.3%, to 4,417.50.
Facebook is holding its annual shareholder meeting on Monday. Investors will vote on a proposal that allows CEO Mark Zuckerberg's majority voting control to be terminated if he steps down or no longer occupies a leadership position at the company.
European markets are surging by as much as 3% in early trading as investors feel more confident that the U.K. public will vote to remain in the European Union during a historic referendum on Thursday.
A series of new opinion polls show voters are being swayed towards the "remain" campaign, though overall sentiment is still roughly evenly split.
European and U.K. banking stocks are leading the rally. Stocks in Asia rallied, with the Japanese Nikkei leading the way with a 2.3% gain.
Oil prices gained 98 cents to $48.96 U.S. a barrel
Gold prices slid $8.80 to $1,286.00 U.S. an ounce.
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