Canadian stocks were set to open higher on Monday.
The S&P/TSX composite index dropped 72.80 points to end the first full week of the year at 14,384.92. March futures on the S&P TSX index rose 0.3%
The Canadian dollar eased 0.25 cents to 84.06 cents U.S. early Monday.
Canadian Natural Resources, the country's largest independent oil producer, cut its 2015 capital expenditure and production forecast as global oil prices continue to slump.
Onex has bought U.K. safety and survival equipment maker Survitec from Warburg Pincus for 450 million pounds ($679.7 million U.S.)
Tekmira Pharmaceuticals Corp agreed to buy Pennsylvania-based OnCore Biopharma Inc to focus on developing hepatitis B virus treatment by combining multiple therapeutic methods.
Barclays cut the price target on ARC Resources to $28.00 from $33.00. Barclays also cut the price target on Vermilion Energy to $65 from $79.
Moreover, Barclays raised the rating on Pengrowth Energy to overweight from equal weight.
ON BAYSTREET
The TSX Venture Exchange dropped 0.27 points Friday to 687.21
ON WALLSTREET
U.S. stock futures are climbing higher, indicating markets could have a positive start to the week.
Ahead of the opening bell, futures for the Dow Jones Industrials gained 64 points, or 0.4% to 17,713. Futures for the S&P 500 hiked eight points, or 0.4%, to 2,043.25, and futures for the NASDAQ took on 16 points, or 0.4%, to 4,216.75.
This week sees the start of earnings season, when a deluge of quarterly reports hit the market. A key company reporting earnings Monday is Alcoa.
Big banks like Bank of America, Citigroup, Goldman Sachs and JPMorgan Chase will report later in the week.
The Golden Globe awards over the weekend were the latest affirmation of the growing role of players such as Amazon and Netflix in television.
European stock markets are all rising, with the DAX in Germany up by more than 1%.
Drugmaker Shire announced Sunday it had agreed to buy U.S. biotech firm NPS Pharma for $5.2 billion U.S. The all-cash deal valued NPS at $46.00 U.S. per share.
NPS stock closed on Friday at $41.91 U.S., so it's expected to pop at the open.
Shares in companies owned by Hong Kong tycoon Li Ka-Shing soared Monday after he announced plans to reorganize his massive empire.
Property firm Cheung Kong jumped nearly 15%, while investment holding firm Hutchison Whampoa climbed almost 13% in Hong Kong trading. Both are owned by Li, 86, worth an estimated $33 billion U.S., according to the Hurun report.
Oil prices fell $1.42 to $46.94 U.S. a barrel
Gold prices gained three dollars to $1,219.10 U.S. an ounce.
