Stock futures pointed to a higher opening for equity markets in Toronto on Monday, although reaction in international markets to a survey that showed China's manufacturing contracted in February suggested gains could be limited.
The S&P/TSX composite index closed Friday down 26.07 points at 14,335.76. Monday’s futures moved higher by 0.2%.
The Canadian dollar gained 0.05 cents at 89.10 cents U.S. early Monday
The Supreme Court dealt a blow to Prime Minister Stephen Harper on Friday by blocking a controversial appointment to the high court made by him in October.
The Teamsters union representing conductors, yard workers, and traffic coordinators agreed to meet with Canadian National Railway one last time in hopes of reaching a new settlement, the rail operator said on Saturday.
Plane and train maker Bombardier said that possible sanctions by Canada and other western countries against Russia probably will delay its planned joint-venture deal with Rostec, the Russian state-owned industrial and defense conglomerate.
ON BAYSTREET
The TSX Venture Exchange dipped 0.22 points Friday to 1,035.04
ON WALLSTREET
Investors are preparing for a rush of initial public offerings this week.
Ahead of the opening bell, futures for the Dow Jones Industrials took on 25 points, or 0.2%, to 16,246. Futures for the S&P 500 gained 3.1 points, or 0.2%, to 1,860.10, and futures for the NASDAQ added nine points, or 0.3%, at 3,648.
The company behind the popular Candy Crush Saga online game is one of 14 companies set to go public this week.
The IPO mania is part of a longer term, global trend that has seen many companies make their public debut.
U.S. stock futures were relatively firm heading into the first day of the trading week. There's little economic or corporate news on the docket Monday that could influence market sentiment.
European stock markets were all lower in midday trading as the Russian takeover of Ukraine's Crimean peninsula continues to dominate sentiment.
Asian markets ended with some significant gains. Japan's Nikkei 225 jumped by 1.8% after a long weekend. The Hang Seng in Hong Kong shot up by 1.9% and the Shanghai Shenzhen CSI 300 rose by 0.8%.
The stock surge comes despite HSBC data that showed Chinese manufacturing activity fell to an eight-month low in March
Oil prices gained 46 cents to $99.92 U.S. a barrel
Gold prices slid $11.30 to $1,324.70 U.S. an ounce.
