(MENAFN - Baystreet.ca) Futures pointed to a higher opening for Canada's main stock index on Monday as crude prices rose after an attack on a Saudi oil facility by Yemeni separatists during the weekend.
The S&P/TSX Composite finished the week on a high note, gaining 137.26 points to 16,149.79, but still sustaining a loss of nearly 200 points on the week.
The Canadian dollar inched up 0.07 cents to 75.44 cents U.S. early Monday
September futures jumped 0.6% Monday.
Papua New Guinea plans to take a larger share of the Porgera gold mine as part of lease-renewal talks, diluting the ownership of joint venture partners Barrick Gold Corp and Zijin Mining Group.
Husky Energy said on Friday it will resume full production at its White Rose field off the coast of Newfoundland & Labrador, which was shut down last year after an oil spill in November 2018.
The Canadian Transportation Agency said on Friday it had launched an inquiry to determine if WestJet Airlines' tariffs related to schedule changes were "just and reasonable".
Shares of Callidus Capital surged more than 75% on Friday after the Canadian lender said its second-largest shareholder, Braslyn Ltd, would acquire its outstanding minority shares and take it private.
Credit Suisse raised the rating on Canadian Utilities to outperform from neutral
CIBC raised the rating on Extendicare to outperform from neutral
Credit Suisse raised the rating on Hydro One to outperform from neutral
The TSX Venture Exchange recovered 1.65 points to finish Friday at 570.43. However, the index was roughed up 22 points on the week.
U.S. stock index futures pointed to a higher open on Monday as Treasury yields rebounded, quelling fears of a possible recession. Futures also got a boost after the U.S. agreed to extend a temporary reprieve to Chinese telecom giant Huawei
Futures for the Dow Jones Industrials took on 284 points, or 1.1%, to 26,919
Futures for the S&P 500 hiked 31.25 points, or 1.1%, at 2,922.75
NASDAQ futures spiked 100 points, or 1.3%, to 7,711.75
The benchmark 10-year Treasury yields jumped to about 1.61% from around 1.54%. Bank shares rose along with yields. Bank of America traded 2% higher in the pre-market while Citigroup advanced 1.9%. J.P. Morgan Chase climbed 1.8%.
Shares of chip makers rose. On Semiconductor and AMD climbed more than 2% each while Micron Technology gained 1.9% in the pre-market.
Overseas, in Japan, the Nikkei 225 gained 0.7% Monday, while in the Hong Kong, the Hang Seng index rocketing 2.2%
Oil prices gained 23 cents to $55.10 U.S. a barrel.
Gold prices handed back $19.00 to $1,504.60 U.S. an ounce.