Canada’s main stock index futures rose, as higher crude prices buoyed energy shares.
The S&P/TSX composite index slumped 140.26 points, or 1%, to close Friday and the week at 13,646.90
The Canadian dollar hiked 0.23 cents at 75.86 cents U.S. early Monday
There has been strong interest in a package of six U.S. gold assets that Barrick Gold Corp wants to sell, a senior Barrick executive said on Sunday, adding that he expects a deal to close before year end.
Denver-based Newmont Mining Corp and Toronto-based Kinross Gold Corp are likely buyers of the assets, an investment banking source said, speaking on condition of anonymity. Kinross declined to comment and Newmonth could not immediately be reached for comment.
Magna International’s CEO says falling cost of intelligent robots may help repatriate some car manufacturing work away from low-cost locations like China back to factories in Germany and North America.
Donald Walker told media outlets that rising wages in China and the cost of importing heavy components like electric car batteries into Europe may lead established car makers to introduce more highly efficient automated manufacturing closer to home.
Credit Suisse cut target price on Denison Mines to $1 from $1.35 considering the company displays sensitivity to spot and long-term uranium prices.
Credit Suisse also cut the target price on Paladin to $0.25 from $0.35 to reflect capital raising/refinancing risk and price sensitivity to lower than expected spot and long-term uranium prices.
On the economic calendar, Statistics Canada reported that wholesale trade –was unchanged in July at $55.4 billion. The agency said higher sales in three sub-sectors, representing 52% of wholesale sales, were offset by lower sales in other sub-sectors.
ON BAYSTREET
The TSX Venture Exchange shed 1.41 points Friday to 549.91
ON WALLSTREET
U.S. stock futures are pushing higher after being in the red earlier this morning.
Ahead of the opening bell, futures for the Dow Jones Industrials sprang forward 102 points, or 0.6%, to 16,420, futures for the S&P 500 boosted 11.75 points, or 0.6%, to 1,962.25, and futures for the NASDAQ jumped 23.25 points, or 0.5%, to 4,350.
Pharmaceutical giant Bristol-Myers Squibb is rising in extended trading while Chesapeake Energy shares are drooping.
European markets are mixed in early trading, while Asian markets ended with broadly negative results. However, the main indexes in China closed with gains.
Alexis Tsipras has declared victory in Greece's snap elections Sunday. Tsipras became prime minister in January 2015 and helped negotiate a new bailout for the country.
Investors seem to have shrugged off the results, with the Greek index moving between positive and negative territory in early trading.
The Shenzhen index rallied by 3.6% and the Shanghai Composite jumped by nearly 2% over the course of the trading day.
Shares in Volkswagen are dropping sharply in Europe after American regulators accused the automaker of cheating on emission control tests.
Federal and California regulators say emission controls in some Volkswagen and Audi models were programmed only to turn on when the car was being tested.
The software is installed in nearly 500,000 Volkswagen cars on U.S. roads.
Oil prices moved upward $1.15 to $45.83 U.S. a barrel
Gold prices slipped $7.20 to $1,130.60 U.S. an ounce.
