Stock index futures in Canada’s largest market rose as oil prices touched an 18-month high after Members and some non-members of the Organization of the Petroleum Exporting Countries reached their first deal since 2001 to jointly reduce output.
The S&P/TSX Composite gained 17 points to close the day and week at 15,312.20
The Canadian dollar zoomed 0.17 cents to 76.04 U.S. early Monday.
KBW raised the price target on Bank of Montreal to $95.00 from $85.00, to reflect the company’s better underwriting, advisory, trading revenue and a lower provision.
ON BAYSTREET
The TSX Venture Exchange demurred 0.7 points Friday to 748.8
ON WALLSTREET
U.S. stock index futures pointed to a mixed open on Monday as traders paused for breath following U.S. equities' best trading week since the election.
Ahead of the opening bell, futures for the Dow Jones Industrials gained 18 points, or 0.1%, to 19,729. Futures for the S&P 500 dipped 0.25 points at 2,254.5. NASDAQ futures skidded 17.75 points, or 0.4%, at 4,875.5
Verifone is the only company set to release its earnings report on Monday and is expected to do so after the bell.
On the data front, Monday will see the Federal budget for November released at 2.00 p.m. ET.
European shares were slightly up around noon local time, while in Asia, the Shanghai composite in China closed 2.5% lower, while the Nikkei in Japan closed 0.8% higher.
OPEC members and some non-members agreed to cut oil production on Saturday and, for the first time in 15 years, a global pact has been secured causing oil prices to rally.
Oil prices hiked $2.36 to $53.86 U.S. a barrel
Gold prices settled $1.50 at $1,160.40 U.S. an ounce.
