Stock index futures north of the border rose on Monday, following a preliminary trade agreement between the United States and China, which was announced on Friday.
The TSX Composite Index strengthened 56.23 points to close Friday and the week at 17,003.13
The Canadian dollar hopped higher 0.41 cents U.S. to 76.25 cents early Monday
December futures gained 0.2% Monday.
Cineworld will buy Canada's Cineplex for $1.65 billion U.S. in cash, making the British firm the biggest cinema operator in North America, as it looks to tackle increasing competition from online streaming services.
Endeavour Mining and Centamin Plc have agreed to assess the feasibility of a merger, following a weekend meeting between top managers of the two companies, driving Centamin's share price higher.
RBC raised the target price on Enghouse Systems to $53.00 from $50.00
RBC cut the rating on MEG Energy to "sector perform" from "outperform".
CIBC raises rating on Power Corporation of Canada to "neutral" from "underperformer".
On the economic slate, Statistics Canada said foreign investors acquired $11.3 billion of Canadian securities in October, mainly bonds. Meanwhile, Canadian investors increased their holdings of foreign securities by $2.0 billion, also mainly in the form of bonds.
Also, the Canadian Real Estate Association declared home sales recorded via Canadian MLS Systems inched up by 0.6% November 2019.
Notching its ninth straight monthly gain, CREA stats activity stands 20% above the six-year low reached in February 2019 but 6% to 7% below heights recorded in 2016 and 2017.
ON BAYSTREET
The TSX Venture Exchange gained 4.01 points Friday to 540.53
ON WALLSTREET
U.S. stock index futures rose on Monday, pointing to a fourth straight day of gains on Wall Street as investors continued to digest news of a U.S.-China phase one trade deal.
Futures for the Dow Jones Industrials gained 67 points, or 0.2%, Monday to 28,232
Futures for the S&P 500 picked up 15.5 points, or 0.5%, at 3,190.75.
The NASDAQ Composite climbed 49.75 points, or 0.6%, to 8,570.75.
Monday’s gains were kept in check, however, by a 4% drop in Boeing. Shares of the aerospace giant fell after The Wall Street Journal reported Sunday the company was nearing a decision on possibly halting or cutting production of the 737 Max.
The report follows Federal Aviation Administration chief Steve Dickson telling reporters last week the 737 Max jet’s return was unlikely to be cleared until 2020. "There are a number of processes, milestones, that have to be completed,” Dickson said. “If you just do the math, it’s going to extend into 2020."
Sentiment was also lifted by strong economic data out of China. Chinese industrial production rose 6.2% in November on a year-over-year basis, topping expectations. Retail sales in China also jumped 8% last month.
On the economic calendar, IHS Markit services, manufacturing, and composite PMI (purchasing managers’ index) flash data for December is due at 9:45 a.m. ET.
Overseas, in Japan, the Nikkei 225 lost 0.3% Monday, while in Hong Kong, the Hang Seng Index shied away 0.7%.
Oil prices improved eight cents at $60.15 U.S. a barrel.
Gold prices added a dollar to $1,482.20 U.S. an ounce.
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