Canada's main stock index futures rose on Monday, helped by oil prices that touched their highest levels since late-2014 on the back of Venezuela's deepening economic crisis.
The S&P/TSX Composite Index jumped 107.93 points to close Friday and the week at 15,729.40
The Canadian dollar dipped 0.21 cents to 77.61 cents U.S. early Monday
June futures inched up 0.1% Monday
Shareholders of Crescent Point Energy voted to elect the Canadian energy producer's full slate of directors after a contentious battle with activist investor Cation Capital.
Desjardins cut the target price on Advantage Oil & Gas to $6 from $7.50
CIBC cut the rating on AutoCanada to neutral from outperform
CIBC raised the price target on Norbord to $56 from $53
ON BAYSTREET
The TSX Venture Exchange recovered 0.99 points Friday to 772.24
ON WALLSTREET
U.S. stock index futures rose ahead of Monday's open as investors looked to build on a sharp rally seen Friday.
Futures for the Dow Jones Industrial Average ballooned 75 points, or 0.3%, to 24,303.
S&P 500 futures picked up 7.5 points, or 0.3%, to 2,670.50, while futures for the NASDAQ composite index hiked 34.5 points, or 0.5%, to 6,809.25
Fabrinet and j2 Global Inc. are among the companies declaring earnings today.
On Monday, investors also looked to the energy markets as oil prices hit highs not seen since late 2014. Prior to the U.S. open, U.S. crude rose above $70 per barrel, while Brent hit $75.89 — a level not seen since November 2014 —before paring back some of its gains.
Oil prices were on the rise on the back of concerns surrounding Venezuela's economic situation and the future of the Iran nuclear deal. The energy market and stocks in the sector will therefore be in focus during Monday's session.
Investors will also be keeping an eye out for any news surrounding the Iran nuclear deal. On Sunday, President Hassan Rouhani stated that Iran had a plan to counter any move made by the U.S. President when it comes to the 2015 nuclear agreement.
Trump has set a deadline of May 12 for the deal to be changed or has said he could withdraw the U.S. from it.
In Japan, the Nikkei 225 returned from holiday to drop almost six points, while in Hong Kong, the Hang Seng index gained 0.2%
Oil prices gained 79 cents to $70.51 U.S. per barrel.
Gold prices retreated $3.80 to $1,310.90 U.S. an ounce.
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