Stock futures pointed to a higher opening for Canada's main stock index on Monday after oil prices retreated from multi-year lows.
The S&P/TSX composite index receded 262.57 points, or 2.1%, to conclude the day and the week at 12,073.46. March futures moved up 0.3% early Monday.
The Canadian dollar acquired 0.16 cents to 68.96 cents U.S. early Monday.
Suncor Energy Inc said it had reached an agreement to buy Canadian Oil Sands Ltd after raising its all-stock offer, valuing the deal at about $4.24 billion excluding debt.
Iran has issued an order to increase crude oil production by 500,000 barrels a day, implementing its policy to boost production as soon as sanctions were lifted.
RBC cut the target price on Melcor Developments to $16.00 from $18.00
National Bank Financial cut the target price on Westjet Airlines to $24.00 from $26.00, with an outperform rating.
ON BAYSTREET
The TSX Venture Exchange dropped 6.41 points Friday, or 1.3% to 488.96
ON WALLSTREET
Markets are closed Monday for the Martin Luther King holiday.
