Equity markets in Toronto looked set to start the week higher, after strong Chinese manufacturing data reinforced views that the world's second-largest economy is regaining momentum.
The S&P/TSX composite index improved 15.21 points to close Friday, week and May at 14,604.16, with futures up 0.2%
The Canadian dollar hesitated 0.18 cents at 92.05 U.S. early Monday.
Trucker TransForce Inc said it would buy truckload transport and logistics company Transport America for $310 million, including debt, from private equity firm Goldner Hawn Johnson & Morrison Inc.
Bloomberg reported this morning that Royal Bank of Canada may invest as much as $1 billion in a hedge fund spun off from its proprietary trading business.
Economically speaking, Canadian manufacturing PMI data for May is due later this morning.
ON BAYSTREET
The TSX Venture Exchange gained 2.47 points Friday to 983.99.
ON WALLSTREET
Markets were poised for a positive start on Monday as investors look to avoid any June gloom.
Ahead of the opening bell, futures for the Dow Jones Industrials took on 15 points, or 0.1%, to 16,719. Futures for the S&P 500 nicked up 1.2 points, or 0.1%, at 1,922.70, and futures for the NASDAQ advanced two points, or 0.1%, to 3,737.50.
Over the past month, the NASDAQ surged by just over 3%, the S&P 500 rose by 2.1% and the Dow added 0.8%.
Since the start of the year, the NASDAQ has had a bumpy ride but the Dow and S&P have pushed higher in four of the last five months.
The main market mover Monday was Salesforce.com. Shares were rising ahead of the opening bell. Last week the company announced a strategic partnership with Microsoft
Hertz Global, Krispy Kreme and Quicksilver will report earnings after the closing bell.
The U.S. government will release data on April construction spending later this morning The ISM index, which measures the manufacturing industry each month, will be published at the same time.
European markets were slightly higher in midday trading, with the FTSE 100 in London and the DAX 30 in Germany outpacing CAC 40 in France.
A reading of manufacturing activity in China released over the weekend showed the country's factory sector continued to strengthen after a rough start to the year.
The data has boosted investor confidence, but not everyone was able to react to the news since a handful of Asian markets were closed for a holiday.
The Nikkei 225 in Japan surged by just over 2%.
Oil prices gained five cents to $102.76 U.S. a barrel
Gold prices gained $1.50 to $1,247.50 U.S. an ounce.
