Stock futures pointed to a slightly higher opening for equity markets in Toronto on Monday as oil rose to its highest since August above $50 U.S. a barrel, supported by a planned production cut by the Organization of the Petroleum Exporting Countries.
The S&P/TSX Composite finished lower 28.57 points to end the day at 14,725.98, still finishing with a gain of 28 points on the week. December futures inched 0.04% higher on Monday.
The Canadian dollar hoisted 0.27 cents at 76.44 cents U.S. early Monday.
Canada's second-biggest pension fund, Caisse de depot et placement du Quebec said on Monday it had partnered with Indian financial services firm Edelweiss Group to invest up to $700 million over the next four years in stressed assets and private debt opportunities in India.
SVG Capital said on Monday that it was in talks with a consortium that included Goldman Sachs and the Canadian Pension Plan Investment Board, confirming media reports about other bidders for the British private equity firm.
Deutsche Bank raised the rating on Pan American Silver to hold from sell
Deutsche Bank raised the target price on Silver Standard Resources to $15.50 from $14.00
CIBC raised the target price on Parkland Fuel Corp to $33.00 from $31.50, and remains favourable on the company’s growth by acquisition strategy.
ON BAYSTREET
The TSX Venture Exchange stayed ahead 1.14 points Friday at 800.23, sinking nearly 10 points on the week, however.
ON WALL STREET
U.S. stock index futures indicated a flat open Monday as investors geared up for more economic news and digested new data from Tesla over the weekend.
Ahead of the opening bell, futures for the Dow Jones Industrials dipped 27 points, or 0.2%, to 18,192, while futures for the S&P 500 faded 4.25 points, or 0.2%, to 2,156.25. NASDAQ futures docked 6.5 points, or 0.1%, at 4,863.75
Tesla set new quarterly records for vehicle production and deliveries in the third quarter, according to data released on Sunday. Shares were up nearly 3.7% in pre-market trading.
There are no corporate earnings releases of note.
Meanwhile, final September manufacturing Purchasing Managers Index figures are due Monday at 9:45 a.m. ET, followed shortly afterwards by Institute for Supply Management manufacturing figures and construction spending data. New light vehicle sales for September are also expected on Monday.
Oil prices gained 29 cents to $48.53 U.S. a barrel
Gold prices improved $2.10 to $1,319.20 U.S. an ounce.
