Stocks Sluggish at Opening Bell

Feb 10, 2020 (Baystreet.ca via COMTEX) —

Futures for Canada’s main stock index were slightly lower on Monday as crude prices fell on weaker demand from China, with the death toll from coronavirus rising over 900.

The TSX Composite Index retreated 102 points Friday to close out the week to 17,665.49, still, a 2% hike on the week.

The Canadian dollar inched up 0.05 cents early Monday at 75.18 cents U.S.

March futures fell 0.5% early Monday.

Shanta Gold on Monday said it had acquired Barrick subsidiary Acacia Exploration’s project in southwestern Kenya in a $14.5-million deal which gives the Tanzania-focused miner its first asset outside the country.

RBC raised the price target on Constellation Software to $1,700 from $1,500

Credit Suisse cut the price target on Husky Energy to $12.00 from $15.00

RBC raised the price target on Innergex Renewable Energy to $22.00 from $17.00

On the economic scene, January housing starts were fairly flat at 210,915 units in January 2020, compared to 212,212 units in December 2019, according to Canada Mortgage and Housing Corporation, while building permits increased 7.4% to $8.7 billion in December.

Increases were reported in five provinces, led by Ontario (+10.5% to $3.4 billion) and Quebec (+15.8% to $2.2 billion

ON BAYSTREET

The TSX Venture Exchange slid 3.84 points to close Friday at 574.16, a weekly loss of 0.2%.

ON WALLSTREET

U.S. stock index futures were little changed on Monday as investors assess the economic impact of the coronavirus outbreak in China.

Futures for the Dow Jones Industrials dropped 31 points, or 0.1%, early Friday to 29,015.

Futures for the S&P 500 sank 1.75 points, or 0.1%, at 3,323.75.

Futures for the NASDAQ Composite forked over one point to 9,408.50.

Allergan and XPO Logistics Inc. are among a host of companies reporting earnings Monday.

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