Equities
Global markets were mixed as stalled U.S.-Iran peace negotiations weighed on risk appetite.
Wall Street futures were muted after major North American markets closed higher on Friday
TSX futures were in the red.
In Canada, investors are getting results from Barrick Mining Corp., Ovintiv Inc., Chemtrade Logistics Income Fund, Cronos Group Inc., CT REIT, Minto Apartment REIT and Trican Well Service Ltd.
On Wall Street, markets are watching earnings from Fox Corp.
“The conflict in the Middle East is now entering its 11th week,” noted Bruce Kasman, global head of economics at JPMorgan. “Energy prices have surged but remain at levels that are headwinds rather than expansion-ending obstacles.”
Overseas, the pan-European STOXX 600 was down 0.17 per cent in morning trading. Britain’s FTSE 100 rose 0.11 per cent, Germany’s DAX slid 0.18 per cent and France’s CAC 40 retreated 1 per cent.
In Asia, Japan’s Nikkei closed 0.47 per cent lower, while Hong Kong’s Hang Seng edged up 0.05 per cent.
Commodities
Oil prices rallied a day after President Donald Trump said Iran’s response to a U.S. peace proposal was “unacceptable,” raising supply fears as the Strait of Hormuz stayed largely closed, which kept the global market tight.
Brent crude futures climbed5 2.48 per cent to $103.80 a barrel. West Texas Intermediate (WTI) gained 2.5 per cent to $97.86 a barrel.
“The oil market continues to trade like a geopolitical headline machine, with prices swinging sharply based on every comment, rejection, or warning coming from Washington and Tehran,” said Priyanka Sachdeva, senior market analyst at Phillip Nova.
In other commodities, spot gold fell 1 per cent to US$4,664.99 an ounce. U.S. gold futures for June delivery lost 1.2 per cent to trade at US$4,673.30.
Currencies and bonds
The Canadian dollar strengthened against its U.S. counterpart.
The day range on the loonie was 73.01 US cents to 73.21 US cents in early trading. The Canadian dollar was up about 0.97 per cent against the greenback over the past month.
The U.S. dollar index, which weighs the greenback against a group of currencies, climbed 0.09 per cent to 97.99. The dollar was pegged at $1.3666.
The euro declined 0.16 per cent to US$1.1770. The British pound slid 0.31per cent to US$1.3591.
In bonds, the yield on the U.S. 10-year note was last up at 4.395 per cent.
Economic news
China’s CPI, PPI, aggregate yuan financing, new yuan loans and trade surplus
10 a.m. ET: U.S. existing home sales for April. The Street expects an annualized rate increase of 1.8 per cent.
10:30 a.m. ET: Bank of Canada’s Market Participants Survey for Q1 is released.
With Reuters and The Canadian Press