TSX Poised For Mixed Open MondayBay Street stocks are poised for a mixed open Monday amid a host of M&A activity and varied cues from the commodities markets. Meanwhile, cues from the global equities market were discouraging, with most Asian markets ending lower.
On Friday, the S&P/TSX Composite Index eased 10.62 points or 0.08% to 12,609.07.
The price of crude oil was little changed amid recovering dollar and falling equities. Crude for November edged up $0.17 to $81.47 a barrel.
Meanwhile, the price of gold continued to level off from its recent record highs amid a firm U.S. dollar.Gold for December was down $8.70 to $1,363.30 an ounce. Last week, gold advanced to an all-time record intraday high of $1,388.10 before settling at 1,372.
According to media reports, Alberta Investment Management Co. will to take an equity investment in Potash Corp. in a bid to block a takeover by the Australian miner BHP Billiton.
In corporate news from Canada, lender RBC said it would acquire BlueBay Asset Management plc by way of a court-approved arrangement in exchange of 485 pence in cash for each share held. BlueBay is an independent credit asset manager in Europe with assets under management of $40 billion as at September 30.
Base-metals explorer First Quantum Minerals said it would acquire Antares Minerals for about C$460 million, in exchange of 0.07619 of its common share or C$6.35 cash per each share of the latter.
Crew Gold Corp. said it has been acquired by Severstal Gold, a subsidiary of Russian based OAO Severstal.
Agricultural and construction equipment dealer Rocky Mountain Dealerships said it acquired K&M Farm Equipment Ltd., a New Holland agriculture dealership, with locations in Westlock and Barrhead, Alberta, bringing the total number of branches to 33.
Oil and gas industry services provider Western Energy Services said it would acquire Pantera Drilling Income Trust for about $64 million, in exchange of its 21.9048 common shares for each unit of the latter.
Mineral Explorer Exeter Resource said that it has refiled its financial statements for the fiscal year ended December 31, 2009 to provide discontinued operations disclosures as a result of the spin-out of its Argentine assets to Extorre Gold Mines.
Uranium producer Cameco said it appointed Ken Seitz as senior VP, marketing and business development, effective January 1, 2011.
Oil and gas focused fund operator North Resources said it has appointed Andrew Davidson as CFO and Secretary.
Mineral explorer Rambler Metals and Mining PLC reported wider fiscal 2010 net loss of C$2.43 million, compared to a loss of C$2.05 million last year. However, loss per share narrowed to C$0.029 from C$0.034 in the prior year quarter. Weighted average number of shares outstanding as of 31 July 2010 were 83.58 million, versus 59.38 million as of 31 July 2009.
In economic news, Statistics Canada said non-residents purchased C$11.1 billion of Canadian securities in August with the majority of the investment going to corporate and government business enterprise bonds. Economists expected only C$6 billion in foreign purchases for August, after the C$5.5 billion recorded the month before. Meanwhile, Canadians acquired C$3.4 billion of foreign securities, led by foreign stocks.