Equity markets in Toronto pointed to a higher open on Monday on expectations that the U.S. Federal Reserve will not pare back its massive stimulus program anytime soon.
The S&P/TSX composite index climbed 99.73 points Friday to close out a short week at 13,136.09. Futures were up 0.1% early Monday.
The Canadian dollar demurred 0.04 cents to 97.13 cents U.S. early Monday
A Canadian National Rail train carrying crude oil and liquefied petroleum gas derailed and caught fire in Western Canada on Saturday, in an accident that brought back memories of a deadly crash in Quebec this summer.
Fairfax Holdings has become the third-biggest shareholder of Greek industrial group Mytilineos, acquiring a 5% stake worth about 30 million euros
In the central Romanian town of Campeni, around 2,000 people protested against Gabriel Resources’ plans to use cyanide to mine 314 tonnes of gold and 1,500 tonnes of silver in the small town of Rosia Montana.
Uranium One Inc., which Russian nuclear corporation Rosatom just took private, will delist from the Toronto Stock Exchange today and the Johannesburg Stock Exchange tomorrow.
On the economic beat, Statistics Canada said the wholesale trade rose 0.5% to $49.8 billion in August, the fourth increase in five months, mostly due to gains in the motor vehicle industry. Market call was for a rise of 0.3%.
ON BAYSTREET
The TSX Venture Exchange lopped off 0.46 points to 951.12
ON WALLSTREET
Company earnings and economic data will take centre stage Monday after U.S. stocks come off a week that saw the S&P 500 set a record high.
Ahead of the opening bell, futures for the Dow Jones Industrials inched up three points, to 15,319. Futures for the S&P 500 poked up 2.1 points, or 0.1%, to 1,738.60, and futures for the NASDAQ took on 8.75 points, or 0.3%, to 3,350.75.
The wave of third-quarter earnings results continues Monday with results due in the morning from McDonald's and Halliburton. Netflix is due after the closing bell.
Bank stocks will be in focus after weekend news that JPMorgan Chase and the Department of Justice have tentatively agreed to a $13-billion civil settlement to resolve several investigations into the bank's mortgage securities business.
At 10 a.m. ET, the National Association of Realtors will release its monthly report on existing home sales.
European markets were mixed in midday trading. Indexes in Germany and France slipped, while the FTSE 100 managed a modest gain.
Asian markets closed higher Monday. Shares in Hong Kong added 0.4% and the Shanghai Composite increased 1.6%. Japan's Nikkei gained 0.9% and the yen weakened as export data for September fell short of analyst expectations.
Oil prices fell one dollar to $99.81 U.S. a barrel
Gold prices gained $1.50 to $1,316.10 U.S. an ounce.
