Canadian stock index futures were lower, ahead of a meeting of the European Central Bank on expectations that officials are beginning to consider reining in the volume of extra emergency aid they give to the euro-zone economy next year
The S&P/TSX Composite faded 58.72 points to close Friday and the week at 14,614.77.
The Canadian dollar inched up 0.07 cents to 76.17 cents U.S. early Monday.
Rogers Communications said it would appoint former Telus Chief Executive Joseph Natale as CEO and reported a 3.2% rise in quarterly revenue as it added more subscribers to its wireless service.
Supervalu Inc said it would sell its Save-A-Lot business Onex Corp. for $1.37 billion, more than a year after making public plans to spin off the discount grocery chain.
Barclays raised the rating on Oceanagold Corp. to overweight from equal weight, citing the company’s mill start-up at the near-finished greenfield Haile mining project in South Carolina.
Barclays raised target price on Teck Resources to $22.00 from $16.00, saying that met coal prices will stay high enough to substantially lift the earnings prospects of the company.
On the economic slate, Statistics Canada reported foreign investment in Canadian securities totaled $12.7 billion in August, led by acquisitions of Canadian bonds on the secondary market.
At the same time, the agency says, Canadian investment in foreign securities slowed to $1.6 billion. This resulted in a net inflow of funds of $11.1 billion into the Canadian economy in the month
ON BAYSTREET
The TSX Venture Exchange gave back 4.48 points Friday to 773.02
ON WALL STREET
Stock futures in New York pointed to a lower open on Monday, as investors geared up for a slew of corporate earnings, while continuing to digest the latest remarks from Federal Reserve Chair Janet Yellen.
Ahead of the opening bell, futures for the Dow Jones Industrials lost 10 points, or 0.1%, to 18,049, while futures for the S&P 500 dropped one point, or 0.1%, to 2,126. NASDAQ futures faded 6.25 points, or 0.1%, at 4,798.
Amid discussion around the upcoming U.S. election and fluctuation in the oil price, the Fed has been placed back on the table in recent trading sessions, as investors debate whether the central bank will raise interest rates this year or next.
Big corporate names are expected to shake up sentiment on Wall Street, as they release their latest financial results with IBM and Netflix all set to report Monday.
Bank of America posted better-than-expected earnings and revenues, sending its stock higher by nearly 2% before the bell. Hasbro also reported better-than-expected results.
United Continental and Wintrust Financial are all expected to release earnings as well.
On the data front, investors will be looking out for the Empire State survey and industrial production figures, both due this morning.
European stocks traded mostly lower in the morning session, while Asia-Pacific indexes were mixed in the North American overnight
Oil prices nicked ahead 10 cents to $50.45 U.S. a barrel
Gold prices slipped two dollars to $1,253.50 U.S. an ounce.
Earnings, Fed to Cause Stir on Wall St.
