Futures for the commodity-heavy Canada's main stock index edged higher on Monday as bullion prices gained on uncertainty over the Russia-Ukraine crisis, while volatile crude prices capped gains
The S&P/TSX Composite Index remained above water 62.79 points to end Friday and the week at 21,952.95. The index backtracked, however, 53 points, or 0.24%.
June futures eked up 0.1% Monday.
Canada on Monday will announce its support for General Motors Co's multi-billion-dollar investment in two plants, including one that will produce electric commercial vehicles, a government source said.
The Kyrgyzstan government on Monday said it had reached an out-of-court settlement with Centerra Gold over ownership and management of the Kumtor gold mine, ending a series of legal challenges launched by both parties over the past year.
RBC assumed coverage on BRP with an outperform rating and a $128.00 target price
Berenberg cut the target price on Endeavour Mining to $42.00 from $44.00
Canaccord Genuity cut the price target on Well Health Technologies to $10.00 from $12.00
Economically speaking, Statistics Canada reported the total value of building permits rose 21.0% to a record $12.4 billion in February, with British Columbia (+130.2%) leading the way.
The agency went on to say construction intentions in the residential sector were up 9.8%, while the non-residential sector jumped 43.2%.
ON BAYSTREET
The TSX Venture Exchange gained 4.99 points on Friday to 897.42, for a gain on the week of 11 points, or 1.25%.
ON WALLSTREET
U.S. stock index futures were mostly flat Monday, as traders monitor the bond market’s warning signals about the economy.
Futures for the Dow Jones Industrials squeezed up two points to 34,720.
Futures for the S&P 500 took on 6.25 points, or 0.1%, to 4,545.50.
Futures for the NASDAQ Composite Index gained 47 points, or 0.3%, to 14,910.75.
Twitter shares surged more than 25% after SEC filings revealed Elon Musk purchased a more than 9% passive stake in the social media company.
It comes less than a week after Musk polled his followers, questioning whether the social media giant follows free speech principles. Based
on Twitter’s Friday closing price, the stake is worth $2.89 billion.
Tesla shares ticked higher by 1%, after the company reported on Saturday its latest quarterly electric vehicle delivery figures. The company delivered more than 310,000 EVs in the first quarter, up from 184,800 in the year-earlier period.
Meanwhile, Starbucks shares dipped about 1% after the coffee chain suspended its share repurchase program.
Investors are also monitoring the latest developments in Ukraine. German Chancellor Olaf Scholz said Sunday that Western nations will impose additional sanctions on Russia in the coming days.
In Asia, the Nikkei 225 in Japan forged ahead 0.3%, while in Hong Kong, the Hang Seng index zoomed 2.1%.
Oil prices picked up $1.19 to $100.46 U.S. a barrel.
Gold prices added $10.20 to $1,933.20 U.S.
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