Mixed Open Seen For Canadian Shares
(RTTNews) - Bay Street may open on a mixed note Monday morning, tracking commodity prices. With rate decisions from the Federal Reserve and the Bank of Canada due on Wednesday, the mood is likely to remain a bit cautious at times.
Inveestors will also be closely following the developments on the trade front.
In corporate news, Alamos Gold Inc. (AGI.TO) announced that its wholly owned Netherlands subsidiaries, Alamos Gold Holdings Coperatief U.A. and Alamos Gold Holdings B.V., have agreed to sell Dou Biga Madencilik Sanayi ve Tic. A.., their wholly owned Turkish subsidiary, which owns the Kirazl, A Da and amyurt projects located in northwestern Trkiye, to Tmad Madencilik Sanayi ve Ticaret A., for total cash consideration of US$470 million.
MEG Energy (MEG.TO) said its Board has reaffirmed its recommendation to the shareholders to vote for the Cenovus transaction. Also, the Board recommended that MEG shareholders reject the revised unsolicited Strathcona Resources offer. MEG shareholders will vote on the Cenovus transaction at a special meeting that will be held on October 9, 2025.
The Canadian market closed modestly lower on Friday, due largely to profit taking after recent record highs.
The benchmark S&P/TSX Composite Index, recovered some lost ground in afternoon trading, but still settled with a loss of 124.07 points or 0.42% at 29,283.82.
In commodities trading, West Texas Intermediate crude oil futures are up $0.37 or 0.59% at $63.06 an ounce.
Gold futures are down $11.50 or 0.31% at $3,674.90 an ounce, while Silver futures are lower by $0.310 or 0.71% at $42.520 an ounce.
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