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Slight Gains Foreseen Monday

Baystreet.ca
Equity markets in Canada’s largest centre were set to open higher on Monday as oil prices made gains ...

Equity markets in Canada’s largest centre were set to open higher on Monday as oil prices made gains on global demand and U.S. efforts to impose sanctions on Iran, which would reduce output.

The S&P/TSX Composite Index climbed 105.17 points to close a short week at 16,371.78

The Canadian dollar climbed 0.3 at 76.44 cents U.S. early Monday

September futures nicked up 0.1% Monday

Barrick Gold and China's Shandong Gold said they would deepen cooperation beyond their Argentinian joint venture, potentially working together on acquisitions.

Suncor Energy said it expects its Syncrude oil sands project in Alberta to return to full production in early to mid-September, following an outage last month that shut total output.

TD Securities raises target price to $19.00 from $17.50

ON BAYSTREET

The TSX Venture Exchange lost 1.81 points Friday to 740.10

ON WALLSTREET

U.S. stock index futures posted solid gains ahead of Monday’s open, supported by positive trade overseas and a strong jobs report published Friday.

Futures for the Dow Jones Industrials vaulted 105 points, or 0.4%, to 24,561

S&P 500 futures gained 10 points, or 0.4%, to 2,773, while futures for the NASDAQ composite bolted higher 27.75 points, or 0.4%, to 7,261.25

Personal and household products company Helen of Troy is expected to publish its latest earnings.

Markets have been given a boost following the publication Friday of the latest jobs report, which revealed that the U.S. economy added 213,000 jobs in June, beating expectations. This positive sentiment seen across markets is in spite of concerns surrounding trade and Brexit.

The U.S. placed $34 billion of tariffs on Chinese goods on Friday, a move that triggered China to hit back with its own set of duties.

And the U.K.’s Brexit Secretary David Davis announced late Sunday that he was resigning from his post, as he wasn’t prepared to be “a reluctant conscript” to Prime Minister Theresa May’s plans to leave the European Union.

On Friday, May had reached a Brexit compromise with her cabinet, persuading ministers to back her intention to press for “a free trade area for goods” with the EU. On Monday, Dominic Raab was appointed as the new Brexit Secretary.

Overseas, in Japan, the Nikkei 225 vaulted 1.2%, while in Hong Kong, the Hang Seng index jumped 1.3%

Oil prices dropped 25 cents to $73.55 U.S. a barrel.

Gold prices grew $10.10 to $1,265.90 U.S. an ounce.