Toronto's main stock index looked set to open higher after Cyprus's bailout deal with international lenders appeared to remove the threat of a financial meltdown in the Mediterranean island.
The S&P TSX index remained positive 9.48 points to end Friday at 12,757.35, with futures moving higher Monday by 0.6%.
The Canadian dollar strengthened 0.35 cents to 98.07 cents U.S. early Monday.
In company news, Manulife Financial paid CEO Donald Guloien $10.4 million in 2012, a 20.5% rise from the previous year due to the company's increased profit.
No major economic data is scheduled for release Monday.
ON BAYSTREET
The TSX Venture Exchange regained 3.37 points Friday to 1,106.35
ON WALLSTREET
World markets got a boost Monday after Cyprus and European Union negotiators reached a deal on a €10-billion bailout for the tiny island nation.
In North America, futures for the Dow Industrials jumped 31 points, or 0.2%, to 14,490. Futures for the S&P 500 tacked on 5.7 points, or 0.4%, to 1,557.70, and futures for the NASDAQ traveled higher 14.5 points, or 0.5%, to 2,808.
European markets rallied more than 1% in morning trading, while Asian markets ended mixed. After an initial bump, the euro was little changed against the dollar.
The new bailout program includes a deep restructuring of the country's banking sector, but will also protect deposits with less than €100,000. A plan to tax all bank accounts, a key sticking point that had enraged Cypriots, was shelved.
Without a deal, the tiny state risked losing emergency funding from the European Central Bank as early as Tuesday. That would have meant financial collapse and almost certain exit from the euro-zone.
Now that a deal has been reached, investors are breathing a cautious sigh of relief.
Aside from Cyprus, Dell will draw attention after the PC maker said early Monday that it had received two competing bids to founder Michael Dell's buyout offer. Both Carl Icahn's Icahn Enterprise, and Blackstone Group submitted separate buyout offers, which Dell said may turn out to be superior.
Shares of Apollo Group rallied after the company reported earnings that blew past estimates, even as enrollment at University of Phoenix declined nearly 16%.
BlackBerry continued to come under pressure, with shares falling more than 6% in pre-market trading. The smartphone maker's stock slid Friday after excitement over the new Z10, which made its U.S. debut, quickly faded.
Oil prices took on 80 cents to $94.51 U.S. a barrel
Gold prices dropped $14.90 an ounce to $1,591.20 U.S.
