Equity markets in Toronto were set for a higher open on Monday after investor sentiment got a boost from strong U.S. payrolls data released on Friday, numbers which suggested an improved growth outlook for Canada's largest trading partner.
The S&P/TSX composite index improved 84.13 points to end Friday and week at 13,378.33
The Canadian dollar nicked up 0.07 cents to 95.46 cents U.S. early Monday
Mitel Networks, a provider of internet phone and video-conferencing services, said it would buy smaller rival Aastra Technologies Ltd for $392 million to expand its customer base.
Brookfield Asset Management announced it is ramping up its investment focus on emerging markets such as Brazil, India, and China, as it expects a recent flight to capital from those countries to produce bargains, the company's CEO said On Friday.
Sears Canada said it would sell its 50% stake in eight Canadian properties for about $315 million, as the struggling department store chain continues to offload real estate in the country.
ON BAYSTREET
The TSX Venture Exchange gained 6.33 points Friday to 932.94
ON WALLSTREET
Investors could take a breather Monday after driving the Dow to a new record high last week.
Ahead of the opening bell, futures for the Dow Jones Industrials were unchanged at 15,700. Futures for the S&P 500 inched forward 1.8 points, or 0.1%, to 1,767.90, and futures for the NASDAQ advanced 2.5 points to 3,363.
With no major corporate results or economic reports on the schedule, and the Treasury market closed for the Veterans Day holiday, stock market trading could be subdued.
Investors will be watching for clues about the coming U.S. Federal Reserve taper when Janet Yellen, vice chair of the Fed, testifies Thursday at her confirmation hearing on Capitol Hill. She is President Obama's nominee to replace Ben Bernanke as chairman of the Fed.
European markets posted narrow gains in morning trading.
Asian markets were mixed as Typhoon Haiyan swept through the region. Australia's All Ordinaries Index closed down 0.3%, while Japan's Nikkei rose 1.3% and Hong Kong's Hang Seng gained 1.4%.
Oil prices dipped 32 cents to $94.27 U.S. a barrel
Gold prices slid $1.30 to $1,283.30 U.S. an ounce.
