Stock futures for the TSX index were indicating a positive start for the week, up 0.2%
The S&P/TSX composite index lost 20.68 points to finish Friday at 14,533.57
The Canadian dollar gained 0.16 cents to 90.73 cents U.S. early Monday.
Precision Drilling Corp, Canada's largest oil and gas drilling contractor, reported a 9% rise in first-quarter profit, helped by higher prices and strong drilling activity in North America and internationally.
Air Canada's largest union has asked the labour board to treat the carrier, its low-cost Rouge subsidiary and an airline that provides its regional service, as a single employer, forcing them to honour Air Canada's contract with the union.
Telus Corp hopes to press its advantage in an upcoming auction of wireless airwaves, so experts say the telecom giant may need to abandon its plan to snatch a floundering rival out of creditor protection and back away from a nasty fight with the federal government.
ON BAYSTREET
The TSX Venture Exchange backtracked 0.86 points Friday to 1,013.59
ON WALLSTREET
Takeover talk swirled through the markets early Monday as Pfizer said it has been looking at a $100-billion U.S. bid for AstraZeneca, and General Electric is reportedly attempting to buy Alstom's power turbines business.
Ahead of the opening bell, futures for the Dow Jones Industrials hiked 40 points, or 0.3%, to 16,364. Futures for the S&P 500 recovered 6.2 points, or 0.3%, at 1,866.30, and futures for the NASDAQ gained 11.75 points, or 0.3%, to 3,542.25.
The British pound also pushed up against the U.S. dollar, trading at its highest level since late 2008, in response to the possibility of a Pfizer takeover of AstraZeneca
Shares in AstraZeneca surged by about 15% in pre-market trading, while Pfizer shares were edging higher.
Both General Electric and Germany's Siemens are reportedly looking to buy the power divisions of France's Alstom, though French government officials are said to be concerned about a U.S. takeover.
Trading in Alstom shares has been suspended. The company promised to make a statement by Wednesday at the latest. Shares in General Electric dipped lower in pre-market trading. General Electric has made no comment.
Shares in Siemens fell in pre-market trading. The German firm said it has proposed to discuss strategic options with Alstom, but declined further comment.
Herbalife and Suncor Energy will post quarterly results after the closing bell.
On the economic front, the National Association of Realtors will release data on pending home sales for March at 10 a.m. ET.
European markets were all moving up in morning trading, with the French and German indices posting the largest gains.
Most major Asian markets declined Monday.
Oil prices progressed 61 cents to $101.21 U.S. a barrel
Gold prices dropped a dollar to $1,299.80 U.S. an ounce.
