TSX Poised For A Cautious Start Monday
Bay Street stocks are poised for a mixed open Monday amid flat commodities prices. Also, traders await a slew of economic data from the U.S., Canada's largest trading partner, to get clues on the strength in the recovery of the world's largest economy.
On Friday, the S&P/TSX Composite Index edged down 5.58 points or 0.04% to 12.363.08.
The price of crude oil was little changed near its 2-month high as traders were cautious ahead of a slew of economic data due out this week from the U.S. Crude for November edged up $0.09 to $81.67 a barrel.
The price of gold was steady around its record high amid a mixed dollar. Gold for December eased $1.30 to $1,316.50 an ounce.
In corporate news from Canada, bitumen producer UTS Energy said it would be acquired by Total E&P Canada Ltd for approximately C$1.5 billion or C$3.08 per share. UTS shareholders received 0.1 common shares of SilverBirch Energy Corp. for each share held.
Energy focused investment trust Enerplus Resources Fund said it divested its100% working interest in the Kirby oil sands lease for C$405 million and closed the sale of certain non-core assets for C$158.5 million.
Integrated transport services provider CN Rail. said Friday that it has reached tentative labor contract settlement with train conductors union in Canada.
Junior mineral exploration company Opawica Explorations said it has privately placed 6.05 million units for $605,000.
ST Acquisition Corp., controlled by members of the Stronach Family, said it intends to acquire any or all of the Class A Subordinate Voting Shares and Class B Shares of real estate company MI Developments Inc. for $13.00 per share in cash.
Renewable energy company Etrion Corp. said it acquired a 33 megawatt solar power plant from US-based SunPower Corp for about 49 million euros.
Industrial rubber products maker AirBoss of America Corp. said it's subsidiary AirBoss-Defense received $7.20 million order from the US Military, in addition to its last month's $15 million orders.
Mineral explorer Conway Resources Monday said it completed a non-brokered private placement of common and flow-through common shares of C$658,750.
African Diamonds Plc said precious metal miner Lucara Diamond will acquire it for C$82 million.