Equities in Canada’s largest centre were poised to open lower after scaling a new high for 2016 in the previous session and a 3.2% gain over the week.
The S&P/TSX Composite Index leaped 88.85 points to conclude Friday and the week at 13,212.50, yet another 2016 high. Futures, however, were off 0.4% before Monday’s opening bell.
The Canadian dollar faded 0.35 cents to 74.76 cents U.S. early Monday.
A company official says China's CGN Mining Co Ltd, the first direct Chinese investor in a Canadian uranium project, is interested in buying stakes in more Canadian companies.
Corus Entertainment's minority shareholders are set to approve its $2.65-billion bid for Shaw Communications Inc's media assets, despite vocal opposition from private equity firm Catalyst Capital.
Raymond James cut the target price on Endeavour Mining to $13.25 from $14.00 with an outperform rating
Desjardins raised the target price on Mandalay Resources to $1.15 from $1.05, with a buy rating
Raymond James raised rating on Oceanagold to outperform from market perform.
ON BAYSTREET
The TSX Venture Exchange picked up 9.36 points Friday to 562.26
ON WALLSTREET
U.S. stock futures are dipping into negative territory.
Ahead of the opening bell, futures for the Dow Jones Industrials trailed 39 points, or 0.2%, to 16,928, futures for the S&P 500 fell seven points, or 0.4%, to 1,988. NASDAQ futures doffed 16.75 points, or 0.4%, to 4,305.75.
Shares in DuPont are rising in extended trading after Bloomberg reported that Germany's BASF is considering making a bid for the company.
DuPont agreed in December to a multi-billion-dollar merger with Dow Chemical. It looks like BASF is trying to step in
Burger chain Shake Shack and retailer Urban Outfitters are reporting earnings after the close.
Nearly all European markets are in the red in early trading, and Asian markets ended the day with mixed results.
Economists and investors are closely monitoring developments in Beijing, where China's annual National People's Congress is taking place.
The Chinese government this weekend set an economic growth target range of 6.5% to 7% for this year. The lower end of the range marks a slowdown from previous years when the country experienced breakneck growth rates.
Oil prices gained 65 cents to $36.57 U.S. a barrel
Gold prices hiked $11.97 to $1,270.95 U.S. an ounce.
