Futures on Canada’s main stock index fell on Monday as tensions escalated between the United States and Iran after the U.S. killed a top Iranian general on Friday.
The TSX Composite Index finished Friday lower 33.83 points, or 102 points on the week, to 17,066.12
The Canadian dollar gained 0.12 cents to 77.10 U.S. early Monday
March futures declined 0.2% Monday.
Scotiabank raises target price on Hudson's Bay Company to $11.00 from $10.30
RBC resumed coverage on CAE Inc. with an outperform rating and price target of $39.00
BMO raised the target price on Onex to $100.00 from $95.00
PI financial raised the target price on Celestica Inc. to $12.30 from $8.80
On the economic front, Statistics Canada’s industrial product price index edged up 0.1% in November, mainly because of higher prices for meat, fish and dairy products.
The Raw Materials Price Index was up 1.5% in November, primarily because of higher prices for crude energy products.
ON BAYSTREET
The TSX Venture Exchange dropped 0.43 points Friday to 587.44, having grown nearly 24 points, or 4.2% on the week.
ON WALLSTREET
U.S. stock index futures fell for a second straight session on Monday as concerns over geopolitical tensions between Iran and the U.S. remained high following last week’s assassination of a top Iranian military leader.
Futures for the Dow Jones Industrials dropped 174 points, or 0.6%, Monday to 28,428.
Futures for the S&P 500 dipped 18 points, or 0.6%, at 3,217.50.
Futures for the NASDAQ Composite fell 60.75 points, or 0.7%, to 8,749.25
Those losses add to Friday’s sharp decline. The major averages had their worst trading day in a month on Friday after U.S. President Donald Trump called for a U.S. air strike in Baghdad that killed top Iranian Gen. Qasem Soleimani.
Trump said Sunday he could slap sanctions on Iraq after its parliament passed a resolution calling for the government to expel foreign troops from the country.
Meanwhile, in terms of data, there will be service sector Purchasing Managers’ Index (PMI) due at 9:45 a.m. ET. The earnings calendar is also thin with only Cal-Maine Foods and Commercial Metals due before the bell.
Overseas, in Japan, the Nikkei 225 returned from holidays to drop 1.9%, while in Hong Kong, the Hang Seng Index dipped 0.8%, Monday.
Oil prices gained 61 cents to $63.66 U.S. a barrel.
Gold prices hiked $25.70 to $1,578.10 U.S. an ounce.
