Stock futures pointed to a higher opening for Canada's main stock index.
The S&P/TSX composite index tumbled 88.24 points to end the day and week at 14,642.84
The Canadian dollar was down 0.04 cents to 77.03 cents U.S. early Monday
A train derailed on Saturday, halting passenger rail service on major routes between Toronto and Ottawa, as well as Toronto and Montreal, Via Rail said. Canadian National said seven cars on a westbound freight train derailed at about 13:50 ET near Bowmanville, Ont. about 75 km east of Toronto.
Roth Capital cut the target price on Amerigo Resources Ltd. to $1.20 from $1.30 after the company’s second-quarter results came below expectations.
Barclays raised the price target on Loblaw Companies to $72.00 from $70.00, on the estimate that once the company achieves its debt reduction target, it will have access to $1 billion in excess cash flow to use predominantly for share buybacks, and to support regular dividend increases.
Brookfield Canada Office Properties reports earnings today, expecting full-year earnings of $1.95 per share
Peyto Exploration & Development also reports, expecting Q2 earnings of 25 cents per share
On the economic front, Statistics Canada reported that wholesale trade decreased 1.0% to $54.5 billion in May, following two consecutive increases. Lower sales in four sub-sectors, which together represented 65% of wholesale sales, accounted for the decline.
Excluding the motor vehicle and parts sub-sector, wholesale sales declined 0.6%.
ON BAYSTREET
The TSX Venture Exchange slid 9.93 points Friday to 628.81
ON WALLSTREET
U.S. stock futures are edging up, all European markets are in positive territory and even Greek banks are reopening after a three-week closure.
Ahead of the opening bell, futures for the Dow Jones Industrials moved up 34 points, or 0.2%, to 18,031, futures for the S&P inched up 2.5 or 0.1%, to 2,121.25, and futures for the NASDAQ gained 12 points, or 0.3%, to 4,662.
Earnings season continues with oilfield services company Halliburton and Morgan Stanley reporting quarterly results before the market opens.
Toymaker Hasbro is also reporting earnings ahead of the open. The company has benefited recently from its ties to popular movie and TV franchises, including Transformers, Star Wars toys and Marvel.
IBM will report after the close.
Shares in used car seller Carmax saw a 2% boost in extended trading after the company posted strong quarterly earnings Friday.
Shares in eBay are dipping by about 1.5% pre-market, after surging by over 4% at the end of last week.
Global stock markets are looking stable at the start of a new week, though Asian markets ended with mixed results.
Oil prices dipped 17 cents to $50.81 U.S. a barrel
Gold prices faded $21.80 at $1,110.10 U.S. an ounce.
