(MENAFN- Baystreet.ca) Futures for Canada's main stock index were lower on Monday after a weekend attack on crude facilities in Saudi Arabia disrupted global oil supplies and fueled worries over the impact of an oil shock on economic growth.
The S&P/TSX Composite came off its highs of the day, but still gained 39.14 points to conclude Friday and the week at an all-time closing high of 16,682.42, a gain on the last five sessions of 147 points, or 0.89%.
The Canadian dollar dropped 0.18 cents to 75.46 cents U.S. early Monday
September futures conceded 0.1% early Monday.
AngloGold Ashanti has entered into an agreement with B2Gold at its Gramalote project in Colombia that will see its Canadian joint venture partner raise its stake and assume management of the project.
Greece is in talks with Canada's Eldorado Gold to secure higher royalties from its mining development projects and new jobs, according to the Greek energy minister.
Dream Global Real Estate Investment Trust DRG said funds managed by Blackstone Group would buy the Canadian firm in a $6.2-billion deal.
CIBC raised the price target on Cascades to $13.00 from $11.00
RBC raised the price target on Enghouse Systems to C$50 from C$48
CIBC raised the price target on Kinaxis to $95.00 from $89.00
ON BAYSTREET
The TSX Venture Exchange was unchanged Friday at 589.16, providing for a weekly gain of 0.65 points, or a mere 0.1%.
ON WALLSTREET
U.S. stock futures dropped Monday morning amid fears that a surge in oil prices following an attack in Saudi Arabia could slow down global economic growth.
Futures for the Dow Jones Industrials subsided 78 points, or 0.3%, early Monday to 27,136
Futures for the S&P 500 dipped 8.25 points, or 0.3%, at 3,000.25
NASDAQ Composite futures fell 35.75 points, or 0.5%, to 7,872.50
That would be the first decline in nine days for the Dow, which had climbed back to within 1% from a record on Friday.
Dow members Exxon Mobil and Chevron rose more than 3% each.
Saudi Aramco, Saudi Arabia's national oil company, will reportedly try to restore about a third of the country's production by Monday.
Airlines JetBlue Airways and United Airlines dropped more than 2% each in the premarket while American Airlines lost 4.5%. Shares of oil refiners Phillips 66 and Marathon Petroleum both rose more than 2%. Devon Energy skyrocketed more than 12% before the bell while Marathon Oil jumped 12.6%.
Retailers such as Target and Walmart slipped about 0.2%.
Elsewhere, General Motors shares fell 2.1% after the United Auto Workers union went on strike after contract talks between the two entities broke down.
Overseas, in Japan, markets were shuttered for holiday Monday, while in the Hong Kong, the Hang Seng index forfeited 0.8%
Oil prices jumped $5.46 at $60.31 U.S. a barrel.
Gold prices hiked $11.90 to $1,511.40 U.S. an ounce.
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