Stock futures pointed to a lower opening for equities in Canada’s biggest market on Monday as oil prices fell following a diplomatic rift between some of the world's major energy producers in the Middle East.
The S&P/TSX Composite Index ditched 27.16 points to end Friday at 15,442.75. June futures slumped 0.1% early Friday.
The Canadian dollar inched up 0.03 cents to 74.12 cents U.S. early Monday.
Osisko Gold Royalties Ltd said it had agreed to buy a precious metals portfolio from U.S. private equity firm Orion Mine Finance Group for $1.13 billion to expand its diamond, gold and silver asset base.
CIBC cut the rating on Canfor Pulp Products to neutral from outperform
CIBC raised the to outperform from neutral
Barclays raised the price target on Canada Goose Holdings to $30.00 from $25.00
Saudi Arabia, Egypt, the United Arab Emirates and Bahrain severed their ties with Qatar, accusing the country of supporting terrorism and opening up the worst rift in years among some of the most powerful states in the Arab world.
ON BAYSTREET
The TSX Venture Exchange nosed ahead 0.53 points Friday to 800.98
ON WALLSTREET
U.S. stock index futures were expected to open slightly lower on Monday as traders paused for breath after various benchmark indexes hit record highs in the previous session.
Ahead of the opening bell, futures for the Dow Jones Industrials dropped 25 points, or 0.1%, to 21,178. Futures for the S&P 500 subsided three points, or 0.1%, to 2,434.75. NASDAQ futures fell seven points, or 0.1%, to 5,879.
On the earnings front, Coupa Software and Thor Industries are both due to report after the market close.
Economically speaking, Monday will see services Purchasing Managers Index data for May released, while Institute for Supply Management non-manufacturing data for May and factory orders for April are both scheduled for slightly later.
European markets slipped by noon on the continent, while the Nikkei 225 in Japan shed a few points, while Shanghai’s CSI 300 gave back 0.5%
Oil prices slouched 30 cents to $47.36 U.S. per barrel.
Gold prices added $3.30 to $1,283.50 U.S. an ounce.
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