Canadian Stocks Aim Higher

Canadian stocks also might be following the U.S. stocks that bounced back to a new high.

Crude oil futures are on a decline and today at 76.17, down 0.20 percent. Brent futures are at 82.93, down 0.28 percent. Natural gas futures is expected to increase by 5.89 percent to 2.699.

Gold Futures are up 0.23 percent at 1,821.6 and Silver is down 0.75 percent at 20.66, while most of the other metal futures are positive.

U.S. earnings and economic data might be the major highlight this week. Consumer Confidence, Manufacturing and Service sector report as well as Durable Goods orders are expected in the next days.

The Toronto-Dominion Bank Monday agreed to settle in principle relating to litigation involving Stanford Financial.

In the corporate sector, GoldMining Inc.’s unit USGO has launched an initial public offering of 2 million units at $10 a unit. Each unit comprises single USGO share and a warrant to purchase one USGO share at a price of $13 per for a period of three years following the IPO.

European Commission president Ursula von der Layen and UK Prime Minister Rishi Sunak reportedly agreed for a deal for trade arrangements for Northern Ireland.

To boost work-life balance and help retain staff in the post-pandemic scenario, rural municipalities in Ontario will be adopting the 4-day work week from March.

European shares are trading higher. CAC 40 of France is gaining 130.73 points or 1.86 percent. DAX of Germany is adding 266.83 points or 1.74 percent. FTSE 100 of England is progressing 61.61 points or 0.78 percent. Swiss Market Index is up 63.66 points or 0.81 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is up 2.01 percent.

Asian stocks were down at the closing on Monday. Chinese shares finished lower. The benchmark Shanghai Composite index slid 0.28 percent to 3,258.03 while Hong Kong’s Hang Seng index ended 0.33 percent lower at 19,943.51.

Japanese shares fell slightly. The Nikkei average slipped 0.11 percent to 27,423.96 while the broader Topix index closed 0.22 percent higher at 1,992.78.

Australian markets finished lower. Australia’s benchmark S&P/ASX 200 fell 1.12 percent to 7,224.80. The broader All Ordinaries index closed 1.24 percent lower at 7.419.60.

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