Futures tied to the S&P/TSX Composite Index advanced on Monday as gains in precious metals and oil extended the prior session’s rally, following the benchmark’s strongest one-day performance in four months. Gold prices rose nearly 1%, bolstering mining shares. Oil prices stabilized after earlier declines, even as supply concerns eased on the back of a pledge by the US and Iran to continue negotiations after what were described as constructive talks in Oman, lending support to energy producers.
In corporate news, US insurer AIG said late Friday that it had completed the purchase of a 9.9% stake in Canadian asset manager Onex. Investors are also looking ahead to earnings from Constellation Software later today, with results from Shopify, Agnico Eagle, and Cameco scheduled for later in the week.
