Bay Street Likely To Open On Positive Note

(RTTNews) - Canadian shares are likely to open on a positive note Monday morning, tracking higher crude oil and bullion prices, and firm European markets. With data on Canadian inflation due on Tuesday, investors may stay cautious at higher levels.

In company news, Agnico Eagle Mines Limited (AEM.TO) announced today that it acquired 33,821,842 common shares of Maple Gold Mines Ltd. (TSXV: MGM) on June 21, 2024 at a price of $0.085 per Common Share for total consideration of approximately $2,874,856.57 from several sellers. Agnico Eagle previously owned 40,852,415 common shares of Maple Gold Mines, representing an approximate stake of nearly 12%.

The Canadian market ended marginally down on Friday after moving in a very narrow range below the flat line, as investors remained reluctant to pick up stocks amid a lack of significant triggers.

The benchmark S&P/TSX Composite Index ended down by 26.49 points or 0.12% at 21,554.86. The index moved between 21,499.57 and 21,586.39. The index recorded a loss of 0.39% for the week, declining for a fifth straight week.

European stocks are up firmly in positive territory ahead this week's U.S. presidential debate and France's snap parliamentary election.

The dollar slipped and bond yields eased as investors await key U.S. inflation data and comments from Federal Reserve officials this week for clarity on the Fed's rate path.

In commodities, West Texas Intermediate Crude oil futures are up $0.33 or 0.41% at $81.06 a barrel.

Gold futures are up $8.50 or 0.36% at $2,339.70 an ounce, while Silver futures are up $0.071 or 0.25% at $29.685 an ounce.