Global markets tumbled as growing risk that Greece will be the first country to leave the euro weighed on market sentiment.
The S&P/TSX composite index docked 89.41 points to close Friday at 14,808.09
The Canadian dollar slipped 0.17 cents to 80.87 cents U.S. Monday
Element Financial Corp said it will buy General Electric’s fleet management operations in the United States, Mexico, Australia and New Zealand for $8.6 billion in cash.
Bank of Nova Scotia has warned regional soccer body CONCACAF, which is deeply enmeshed in the FIFA bribery scandal, that it will withhold funds from a major sponsorship deal unless the confederation cleans up its act, according to a source familiar with the bank’s position
Chinese train maker CRRC Corp Ltd said it had no intention to buy the rail business of Canada's Bombardier, responding to recent local media reports that said it planned to do so. In a statement to the stock exchange, the train maker cited media reports published last week saying a recent share purchase by subsidiary CSR Co Ltd in Hong Kong-based China Properties Investment Holdings Ltd was done to pave the way for a deal with Bombardier.
Manulife Financial Corp seeks to raise $421 million through a Singapore listing of a real estate investment trust, backed by three U.S. office properties, showed a prospectus filed with the city-state's central bank. Manulife aims to sell 694.4 million units, including cornerstone units, at S$0.82 each, making the initial public offering Singapore's biggest in a year.
Three energy firms - Perenco Ltd, Pluspetrol and Pacific Rubiales - have signaled interest in bidding for Peru's biggest oil block next month, but a new contract will not be finalized until talks with locals wrap up, Peru said on Thursday. No other company submitted a letter of interest, a step needed to take part in the auction, said one official.
Potash Corp of Saskatchewan Inc does not plan any closures at K+S AG if its bid for its German peer proves successful, according to people familiar with the matter.
Greece's banks and stock market were closed and were expected to remain so until after the July 5 snap referendum called by Greek Prime Minister Alexis Tsipras on further austerity demanded by euro-zone partners
On the economic beat, Statistics Canada’s industrial product price index increased 0.5% in May, mainly because of higher prices for energy and petroleum products, while its raw materials price index increased 4.4% during the same month, largely as a result of higher prices for crude energy products.
ON BAYSTREET
The TSX Venture Exchange moved lower 0.21 points Friday to 679.84.
ON WALLSTREET
European markets plunged and U.S. stock futures were moving lower as shock developments pushed Greece closer to default.
Ahead of the opening bell, futures for the Dow Jones Industrials tumbled 181 points, or 1%, to 17,692, futures for the S&P 500 dipped 22 points, or 1.1%, to 2,073.75, and futures for the NASDAQ slipped 22 points, or 1.1%, to 4,426.75.
Greek banks will remain closed for a week and capital controls are in place as the country attempts to contain a deepening financial crisis.
The long-running debt saga hit a fresh low after Greece pulled its negotiators out of bailout talks late Friday. The government will put the rejected creditors' proposal to a referendum on July 5, in a high stakes vote that could see the country leave the euro.
European markets slumped in early trading, with the banks hit hard. Germany's DAX was down 3.1% and France's CAC was off by 3.1%.
Asian markets also sank. Japan's benchmark Nikkei index dropped 2.9%, and Seoul's KOSPI Composite lost 1.4%.
Oil prices fell 94 cents to $58.69 U.S. a barrel
Gold prices hiked $3.50 at $1,176.70 U.S. an ounce.
