Stock futures pointed to a higher opening for equities in Toronto on Monday as the threat of wider conflict in Ukraine appeared to diminish.
The S&P/TSX composite index gained 13.06 points to close Friday at 15,304.24. Furures Monday were up 0.2%.
The Canadian dollar added 0.05 cents to 91.91 cents U.S. early Monday
Bombardier and Japanese industrial giant Hitachi Ltd are the two frontrunners to buy Finmeccanica's rail subsidiaries.
CIBC raised the target price on Cardinal Energy to $22.50 from $19. The bank also raised the target price on Callidus Capital to $25 from $23.50
On the economic beat, Statistics Canada reported this morning that foreign investors reduced their holdings of Canadian securities by $1.1 billion in June, following investment totaling $31.6 billion over the previous two months. Meanwhile, Canadian investors added $2.0 billion of offshore investments to their portfolios in June.
ON BAYSTREET
The TSX Venture Exchange slipped 0.32 points Friday to 995.50
ON WALLSTREET
It looks like markets could rise Monday, buoyed by an easing of tension over Ukraine.
Ahead of the opening bell, futures for the Dow Jones Industrials advanced 87 points, or 0.5%, to 16,718. Futures for the S&P 500 added 10 points, or 0.5%, to 1,962.50, and futures for the NASDAQ gained 19.75 points, or 0.5%, to 4,004.75.
Shares in Monster Beverage were under a bit of pressure Monday after the stock surged by 30% Friday. Investors were excited last week when Coca-Cola announced it was buying a large stake in Monster. Shares in the energy drinks company were declining by about 1% pre-market.
Time Warner shares were up 1.6% but are still 12% down on the month after Rupert Murdoch's 21st Century Fox walked away from a takeover bid.
Retailers Urban Outfitters and American Apparel are expected to report earnings after the closing bell.
American Apparel delayed its results to give its new board extra time to review the firm's financials. The company has been in turmoil since its controversial CEO Dov Charney was ousted in June.
The National Association of Home Builders will release its latest monthly stats on the U.S. housing market at 10 a.m. ET.
European markets were all surging in early trading, with Frankfurt’s DAX marching 1.5% higher. The German foreign ministry reported "some progress" in talks Sunday with Russia and Ukraine.
Oil prices fell 76 cents to $96.59 U.S. a barrel
Gold prices sank $5.30 to $1,300.90 U.S. an ounce.
