Canada's main stock index looked set to open higher on Monday, as investors remained positive following better-than-expected euro zone data and signs of economic reform in China.
The S&P/TSX composite index picked up 51.18 points Friday to finish the day and week at 13,482.56. Futures were up 0.1%
The Canadian dollar tacked on 0.19 cents to 95.99 cents U.S. early Monday
Barrick Gold and Goldcorp are looking to sell their jointly owned Marigold mine in Nevada, according to sources familiar with the situation. The mine produced just under 40,000 ounces of gold in the third quarter.
U.S. hedge funds Scout Capital Management and Highfields Capital disclosed in regulatory filings that they have trimmed their stakes in Tim Hortons after shares in the coffee and doughnut chain posted big gains.
CIBC cut the rating on IBI Group to sector underperformer from sector performer as the company reported third-quarter results that reflected write-downs of uncollectible amounts.
RBC raised the price target on Ithaca Energy to $3.50 from $3.20 following the company's strong third-quarter results.
In the economic docket, Statistics Canada told us this morning that international transactions in Canadian securities hiked to $8.4 billion in September, while we reduced our holdings in offshore investment instruments by $1.5 million.
ON BAYSTREET
The TSX Venture Exchange ended the week positive 2.44 points to 934.07
ON WALLSTREET
Markets are trying to ride the momentum after last week's gains.
Ahead of the opening bell, futures for the Dow Jones Industrials picked up 37 points, or 0.2%, to 15,950. Futures for the S&P 500 inched up two points, or 0.1%, to 1,795.70, and futures for the NASDAQ also gained two points, or 0.1%, to 3,418.50
Boeing shares rose Monday after the aircraft maker said it sold more than $95 billion U.S. of its new 777X at the Dubai air show, a record launch for a new aircraft and far more than analysts had been forecasting.
Tyson Foods is scheduled to release its quarterly results Monday morning, while Salesforce.com is up after the bell.
Meanwhile, market enthusiasm in Europe was picking up in morning trading.
Asian markets rallied, with Chinese stocks jumping significantly higher after a new document from the government outlined important reform plans for the country.
Both the Shanghai Composite index and the Hang Seng powered ahead by nearly 3%, with investors cheering the laundry list of social and economic reforms, which included 60 specific tasks.
Oil prices faded 38 cents to $93.46 U.S. a barrel
Gold prices slid $9.70 to $1,277.70 U.S. an ounce.
