(Reuters) - Futures for Canada's main stock index edged higher on Monday as gold prices rose, while investors awaited a reading on factory activity data and earnings update to gauge the pace of economic recovery in the country.
Gold futures gained 0.7% to $1,780.1 per ounce, helped by a pullback in the U.S. dollar and Treasury yields while worries over surging COVID-19 cases in some countries boosted the metal's appeal. [GOL/]
IHS Markit's Canada manufacturing PMI data for April is due at 0930 a.m. ET. In the previous month, Canadian factory activity had expanded at a record pace.
June-quarter futures on the S&P/TSX index were up 0.5% at 7:03 a.m. ET.
The Toronto Stock Exchange's S&P/TSX composite index ended 0.77% lower at 19,108.33 on Friday. (TO)
Dow e-minis were up 210 points, or 0.62%, at 07:03 a.m. ET, while S&P 500 e-minis were up 20.25 points, or 0.49%, and Nasdaq 100 e-minis were up 32.75 points, or 0.24%. (N)
TOP STORIES [TOP/CAN]
J. Safra Sarasin Group has acquired Bank of Montreal's private banking business in Hong Kong and Singapore, the Swiss group said on Monday, giving no financial terms for the deal announced in January.
Canadian Pacific Railway Ltd said on Saturday it filed a formal objection with a U.S. regulator stating Canadian National Railway Co's near $30 billion rival bid for Kansas City Southern (NYSE:KSU) does not qualify to be exempted from tougher merger rules.
Canada's drug regulator said on Friday that doses of Johnson & Johnson (NYSE:JNJ)'s COVID-19 vaccine recently delivered to the country were produced at a Baltimore plant where the U.S. Food and Drug Administration (FDA) halted production.
ANALYST RESEARCH HIGHLIGHTS [RCH/CA]
Agnico Eagle Mines Ltd: J.P. Morgan raises target price to C$86 from C$84
Information Services Corp: CIBC raises to outperformer from neutral
COMMODITIES AT 7:00 a.m. ET
US crude: $63.63; +0.1% [O/R]
Brent crude: $66.64; -0.2%[O/R]
U.S. ECONOMIC DATA DUE ON MONDAY
0945 Markit Manufacturing PMI final for April: Prior 60.6
1000 Construction spending mm for March: Expected 2.0%; Prior -0.8%
1000 ISM Manufacturing PMI for April: Expected 65.0; Prior 64.7
1000 ISM Manufacturing prices paid for April: Expected 86.0; Prior 85.6
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($1= C$1.2291)