June 22 (Reuters) - Canada’s main stock index future rose on Monday, supported by firmer gold prices against the backdrop of global concerns related to rising coronavirus cases.
The World Health Organization reported a record increase in global cases of coronavirus on Sunday, raising concerns about a slower-than-expected economic recovery.
Gold futures rose as much as $1,767.6 an ounce, hitting a one-month high, as investors were drawn to safe-havens.
September futures on the S&P/TSX index were up 0.14% at 7:00 a.m. ET.
On Friday, the Toronto Stock Exchange’s S&P/TSX composite index ended 0.04% lower at 15,474.20.
Dow Jones Industrial Average e-mini futures were up 0.54% at 7:00 a.m. ET, while S&P 500 e-mini futures were up 0.57% and Nasdaq 100 e-mini futures were up 0.7%.
Cineplex Inc said on Friday it adopted a shareholder rights plan, popularly known as a “poison pill”, nearly a week after Britain’s Cineworld Group Plc abandoned its $1.65 billion deal to buy the Canadian theater chain.
Enbridge Inc resumed operation on Saturday of one leg of its Line 5 oil pipeline in the U.S. Great Lakes, after a two-day shutdown due to damage to the other line, a spokesman said.
Canadian National Railway Co, the country’s biggest railroad, is banking on growth in consumer products and supply-chain diversification in Asia, to revive traffic on its underutilized eastern Canadian rail lines, the company’s chief executive told Reuters on Friday.
ANALYST RESEARCH HIGHLIGHTS
Bonavista Energy Corp: RBC cuts target price to C$0.10 from C$0.25
Exco Technologies Ltd: BMO raises target price to C$7 from C$6
Westshore Terminals Investment Corp: Scotiabank raises target price to C$20.50 from C$19
COMMODITIES AT 7:00 a.m. ET
Gold futures: $1,751.8; +0.27%
US crude: $39.5; -0.63%
Brent crude: $41.99; -0.45%
U.S. ECONOMIC DATA DUE ON MONDAY
0830 National Activity Index for May: Prior -16.74
1000 Existing home sales for May: Expected 4.20 mln; Prior 4.33 mln
1000 Existing home sales percentage change for May: Expected -2.3%; Prior -17.8%
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report
Canadian dollar and bonds report
Reuters global stocks poll for Canada
Canadian markets directory ($1= C$1.36) (Reporting by Amal S in Bengaluru; Editing by Shailesh Kuber)
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