Futures Gain to Start New Week

Dye & Durham, Tecsys in Focus

Futures tracking resource-heavy Canada's main stock index rose on Monday as oil prices steadied and investors returned from a long weekend to buy riskier assets that have been battered by concerns over a potential global economic slowdown.

The S&P/TSX dropped 217.28 points, or 1.1%, to close Thursday at 18,861.36.

September futures gained 0.6% Monday.

The Canadian dollar gained 0.24 cents to 77.83 cents U.S.

Markets were closed Friday for Canada Day.

Australia's Link Administration rejected Canadian software firm Dye & Durham's lowered takeover bid but agreed to continue to engage with it on hopes of securing a better offer.

Toronto-Dominion Bank is exploring a takeover deal for U.S. brokerage Cowen.

Cormark Securities cut the target price on Tecsys to $47.50 from $50.00.

CIBC cuts target price on Canopy Growth to $3.00 from $5.00

In Japan, the Nikkei 225 gained 0.8% Monday. In Hong Kong, the Hang Seng declined 0.1%

Oil prices gained 91 cents to $109.34 U.S. a barrel.

Gold prices captured $5.30 to $1,806.80 U.S. an ounce.


The TSX Venture Exchange slid 9.08 points, or 1.5%, to 617.26.

On matters macroeconomic, the Markit Canada will post its Purchasing Managers Index for June later this morning (about 9:30 a.m. EDT)


American markets are shuttered for the 4th of July.