Stock futures pointed to a higher opening for Canada's main stock index on Tuesday.
The S&P/TSX composite index bolted higher 242.1 points, or 1.9%, to close Monday at 13,317.52
The Canadian dollar inched up 0.11 cents to 75.12 U.S. early Monday
December futures on the S&P TSX index were up 0.3% early this morning.
The Quebec government said on Monday its $1-billion investment in a partnership with Bombardier Inc that is aimed at completing the company's CSeries jet program will be financed through the government's annual borrowing program. The company's CSeries passenger jet program is already years late and billions of dollars over budget.
Enbridge cut 5% of its workforce on Monday, a spokesman said, as low crude prices continued to drag on the North American oil and gas industry. Enbridge spokesman Graham White said the reductions were made across Canada and the United States and represented about 500 employees at all levels and 100 unfilled positions
Kirkland Lake Gold Inc has agreed on Monday to purchase fellow Canadian gold miner St Andrew Goldfields Ltd in an all-share deal valued at around $178 million to create a mid-sized, Ontario-focused gold producer. The combined company expects to produce between 260,000 and 310,000 ounces of gold in 2016 at cash costs of between $600 and $690 an ounce.
The deal share exchange ratio values each St Andrew share at 47 cents, a 24% premium on the company's closing stock price on Monday of 38 cents.
CIBC raised the target price on Sandstorm Gold to $4.00 from $3.50 as the company reported largely in-line third quarter 2015 results.
CIBC raised the price target Gran Tierra Energy to $4.25 from $3.75 based on the company’s agreement to acquire Petroamerica in a cash and stock deal.
ON BAYSTREET
The TSX Venture Exchange moved up 2.18 points Monday to 526.11
ON WALLSTREET
Investors are putting the Paris terror attacks behind them and are buying into stocks.
Across Europe, every major stock market index is rising, with some shooting up by nearly 2%. And U.S. stock futures are making a clear move higher.
Ahead of the opening bell, futures for the Dow Jones jumped 60 points, or 0.3%, to 17,481, futures for the S&P 500 moved higher five points, or 0.2%, to 2,053, and futures for the NASDAQ acquired 15 points, or 0.3%, to 4,574.75.
Urban Outfitter shares are plunging by more than 11% in extended trading after the retailer reported disappointing quarterly earnings.
And investors were clearly unimpressed after the clothing retailer said it was acquiring the Vetri Family restaurant chain, which includes a string of pizzerias.
Other retailers are reporting results ahead of the open, including Wal-Mart, Home Depot, Dick's Sporting Goods and TJX, which is the company behind T.J. Maxx.
Investors have grown increasingly worried about an industry-wide slump in brick and mortar retail.
Heavyweights Macy's and Sears have suffered, and smaller outfits like Abercrombie & Fitch, American Apparel and Aeropostale are floundering as well.
The U.S. Bureau of Labor statistics will update its Consumer Price Index this morning. The index has shown that inflation continues to be dragged down by low energy prices.
Across the pond, he European currency is in selloff mode, falling against the U.S. dollar and every other major global currency.
The euro is now trading around $1.064 U.S., which is the lowest level it's seen since April.
Investors are ditching the euro as they expect the European Central Bank will take further action to support the euro-zone economy.
Asian stocks were mostly higher Tuesday.
Oil prices doffed 42 cents to $41.32 U.S. a barrel
Gold prices sank $1.32 to $1,081.44 U.S. an ounce.
