Bay Street Seen Opening Higher

(RTTNews) - Positive European markets and firm crude oil and bullion prices point to a higher start for Canadian stocks on Monday.

However, the mood is likely to remain cautious amid concerns about growth, inflation and reports that several cities in China are seeing a surge in coronavirus cases.

Canadian stocks turned in a mixed performance on Friday with investors largely making cautious moves. The benchmark S&P/TSX Composite Index, which advanced to 20,359.79 in early trades, dropped to a low of 19,937.30 during the session, before finally settling at 20,197.61, recording a gain of 15.69 points or 0.08%. The index gained about 0.5% in the week.

Asian stocks ended on a mixed note on Monday, as parts of Beijing have again come under a lockdown amid signs the pandemic outbreak is spreading in more and more Chinese cities.

The authorities have imposed a lockdown in the Haidian district along with Chaoyang, Fengtai, Shunyi, and Fangshan districts, China's Global Times reported citing a statement of the city government's spokesperson, Xu in Hejian.

European stocks are modestly higher despite persisting concerns about growth and news about fresh lockdown in several areas in China amid signs the pandemic outbreak is spreading in more and more cities.

In commodities trading, West Texas Intermediate crude oil futures are up $1.15 or 1.04% at $111.43 a barrel.

Gold futures are gaining $20.20 or 1.1% at $1,862.30 an ounce, while Silver futures are up $0.481 or 2.22% at $22.155 an ounce.