Toronto's main stock index looked set to open higher on Monday, as investors turned hopeful that European policymakers are closer to taking action to counter worries about slowing growth and the region's debt crisis.
The S&P/TSX Composite Index tunneled lower by 152.12 points, or 1.3%, to end Friday at 11,361.09. Canada stock futures traded up 0.09%.
Canada's biggest telecommunications company, BCE Inc , has joined with a group of private equity fund managers to buy data center company Q9 Networks Inc for $1.1 billion.
Excellon Resources Inc said Chief Executive Jeremy Wyeth resigned from the company to pursue other interests.
No major Canadian economic data is scheduled for release
ON BAYSTREET
The TSX Venture Exchange fared better, actually gaining 1.86 points to 1,291.59. The Nasdaq Canada index slumped 4.97 points to 351.46
ON WALLSTREET
U.S. investors braced Monday for a choppy start to the week as worries about a global growth slowdown and uncertainty surrounding Europe's debt crisis persisted.
Futures for the Dow Industrials dipped four points, to 12,099, half an hour before the opening bell, while futures for the S&P 500 tacked on 3.20 points, or 0.3%, to 1,277.10. Futures for the tech-rich Nasdaq added eight points, or 0.3%, to 2,463.
Shares of Facebook, which have gotten hammered since the company's IPO, edged higher in pre-market trading.
Anxieties over the health of the Spanish banking system and the possibility that Greece could soon exit the euro remain high.
There are also worries about slowing growth in emerging markets such as China and India. Recent reports out of China last week showed the manufacturing sector contracted more than expected in May.
European stocks were mixed in afternoon trading. The DAX in Germany fell 0.4%, while France's CAC 40 rose 0.9%. British markets are closed for a bank holiday.
Asian markets ended lower in their first day of trading since the U.S. jobs report. The Shanghai Composite tumbled 2.7%, and the Hang Seng in Hong Kong fell 2%. The Nikkei in Tokyo fell 1.7%.
Oil for July delivery fell 87 cents to $82.36 U.S. a barrel.
Gold futures for August delivery lost $1 to $1,621.10 U.S. an ounce.
