Stock futures pointed to a higher opening for Canada's main stock index after weak trade data from China raised hopes of more stimulus from the Chinese central bank.
The S&P/TSX composite index moved lower 118.10 points to close Friday at 13,596.41
The Canadian dollar took on 0.41 cents to 75.56 cents U.S. early Tuesday
Markets in North America were closed Monday for Labour Day.
Concordia Healthcare Corp said it would buy Amdipharm Mercury Ltd from private equity firm Cinven in a deal valued at $3.5 billion. The deal gives Concordia a portfolio of more than 190 niche pharmaceutical products.
Emera Inc will acquire U.S. electric and gas utility holding company Teco Energy Inc for $6.44 billion to expand in the United States. The deal is valued at $10.4 billion including the assumption of about $3.9 billion in debt, the companies said in a statement.
Potash Corp of Saskatchewan has hired a third investment bank as adviser in its effort to take over German fertiliser maker K+S a German newspaper reported on Sunday. Bank of America Merrill Lynch will join Morgan Stanley and Deutsche Bank in advising the Canadians in the effort, the Frankfurter Allgemeine Zeitung newspaper said, without citing sources.
Barclays cut the target price on Canadian Oil Sands to $6.00 from $7.00, saying as commodity prices fall, energy companies are faced with lower rates of reinvestment, and accordingly a growth outlook that is negative for most companies.
Barclays raised the target price on Dollarama to $76.00 from $73.00, says the company was able to do a better job of protecting gross margins from forex pressure in first quarter.
CHC Group Ltd reports Q1 earnings today, projecting a loss of 59 cents per share
Evertz Technologies expects Q1 earnings of 24 cents per share
ON BAYSTREET
The TSX Venture Exchange faded 1.14 points Friday to at 552.65
ON WALLSTREET
U.S. stocks are set to shoot higher once the trading day begins in New York.
Ahead of the opening bell, futures for the Dow Jones Industrials sprinted 246 points, or 1.5%, to 16,365, futures for the S&P 500 spiked 30.5 points or 1.6%, to 1,952.25, and futures for the NASDAQ slid jumped 64.75 points, or 1.5%, to 4,258.75.
Stocks like Apple, PayPal and Freeport-McMoRan are leading the way with pre-market gains of between 2% and 4%.
The Dow Jones industrial average and S&P 500 both experienced wild trading jumps and bumps over the previous week. They closed out the five days with a total loss of 2.6%. The NASDAQ dropped by 1.9% over the same period.
The positive sentiment comes as Chinese stocks rebound despite disappointing trade data. Most global stock markets are climbing Tuesday.
Oil prices slid 40 cents to $45.65 U.S. a barrel
Gold prices faded 90 cents to $1,120.50 U.S. an ounce.
