Bay Street Likely To Open Higher

(RTTNews) - Canadian shares are likely to open on a positive note on Monday, tracking European markets and higher bullion prices.

Crescent Point Energy Corp. (CPG.TO) announced that it expects annual production of 145,000 to 151,000 barrels of oil equivalent per day or boe/d in 2024. The firm said that this production forecast is based on development capital expenditure of $1.05 billion to $1.15 billion.

The energy company added that it aims production of around 180,000 boe/d by 2028, which equates to a compounded annual growth rate of 5%.

Vermilion Energy (VET.TO) announced today that it has restarted its operations in Australia after completing inspection and repair work at its Wandoo facility.

The Canadian market ended on a negative note on Friday, weighed down by losses in technology, industrials and real estate sectors.

The benchmark S&P/TSX Composite Index ended with a loss of 57.43 points or 0.29% at 20,074.65, slightly off the day's low. The index shed about 2.3% in the week, losing on all the four sessions.

Asian stocks ended mixed on Monday as investors braced for key U.S. and Chinese economic data due this week for directional cues.

An update on U.S. inflation may provide insight in the Federal Reserve's future actions before it convenes next week to decide on rates.

China is due to unveil data on industrial output, retail sales and house sale prices this week.

European stocks are up in positive territory, reacting to the latest inflation data from China. However, with a slew of key economic data from the U.S. and China due this week, the mood is a bit cautious.

In commodities, West Texas Intermediate Crude oil futures are down $0.61 or 0.7% at $86.90 a barrel.

Gold futures are gaining $6.70 or 0.34% at $1,949.40 an ounce, while Silver futures are up $0.211 or 0.91% at $23.385 an ounce.