Stock futures pointed to a lower start for Canada's main stock index on Monday as prices of metals, including gold and copper, fell after an anti-austerity party won elections in Greece, raising concerns over economic stability in Europe.
The S&P/TSX composite index was positive 15.37 points to close Friday and the week at 14,779.35, with March futures down 0.2% Monday.
The Canadian dollar skidded 0.03 to 80.34 cents U.S. early Monday.
Struggling Canadian wireless operator Mobilicity will not bid for more airwaves in one upcoming government auction and the company is trying to secure funding to participate in another, its court-appointed monitor said in a filing on the company's website.
National Bank Financial raised the target price on Suncor Energy to $40.00 from $38.00.
National Bank Financial also cut the price target on Canadian Oil Sands to $8.00 from $10.00.
National Bank Financial cut the rating on Long Run Exploration to sector perform from outperform.
ON BAYSTREET
The TSX Venture Exchange shed 0.79 points Friday to 678.18
ON WALLSTREET
Investors were nervous Monday after elections in Greece ignited fears about fresh turmoil in Europe.
Ahead of the opening bell, futures for the Dow Jones Industrials lost 23 points, or 0.1%, to 17,565. Futures for the S&P 500 slid 1.75 points, or 0.1%, to 2,042.25, and futures for the NASDAQ nicked up 2.25 points, or 0.1%, to 4,269.25.
The S&P/Case-Shiller home price index is to be released at 9 a.m. ET, and the Conference Board posts its monthly consumer confidence index at 10 a.m. ET. Microsoft will report earnings after the closing bell.
The left-wing Syriza party swept to victory in elections on Sunday, fueled by populist anger over years of severe austerity measures in Greece. Syriza has vowed to renegotiate the terms of the country's massive bailouts with the European Union and International Monetary Fund, who have lent Greece €240 billion ($277.8 billion U.S.) since 2010.
European markets were mixed in early trading, with France's CAC down 0.1%. Germany's DAX added 0.2% after a survey showed improved business conditions in the largest European economy. Asian markets also diverged, with Shanghai's Composite up 0.9% while Japan's Nikkei index closed down 0.3%
Oil prices edged up 35 cents to $45.94 U.S. a barrel
Gold prices gave back $11.10 to $1,281.50 U.S. an ounce.
