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Bay Street Likely Seen Opening On Subdued Note
(RTTNews) - Canadian shares look headed for a muted start Monday morning, amid a lack of positive triggers. With several central banks, including the Federal Reserve, scheduled to announce their monetary policy decisions this week, the mood is likely to remain cautious.
Manulife Financial Corp. (MFC.TO) announced Monday it has agreed to reinsure $13 billion of reserves across four legacy/low ROE blocks, including $6 billion, or 14% of total long-term care (LTC) reserves, to Global Atlantic and its partners.
The Canadian market ended higher on Friday, led by gains in energy stocks. Positive reaction to stronger than expected U.S. non-farm payroll data aided sentiment.
The benchmark S&P/TSX Composite Index ended with a gain of 53.03 points or 0.26% at 20,331.54.
Asian stocks turned in a mixed performance on Monday amid cautious moves as investors awaited cues from several central bank meetings, including the Federal Reserve, and some key U.S. economic data.
European stocks are mixed with investors making cautious moves, looking ahead to a slew of central bank meetings, and some crucial economic data.
In commodities, West Texas Intermediate Crude oil futures are down $0.52 or about 0.7% at $70.71 a barrel.
Gold futures are lower by $3.90 or 0.19% at $2,010.60 an ounce, while Silver futures are down $0.046 or 0.21% at $22.230 an ounce.
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