Bay Street Likely To Open On Positive Note

(RTTNews) - Canadian shares are likely to open higher Monday morning, with firm metal prices expected to trigger buying in the materials sector. The focus will be on the developments on the trade front and corporate earnings announcements.

In company news, MDA Space Ltd. (MDA.TO), a Canadian space technology provider, Monday announced that it is investing $10 million in Maritime Launch Services Inc. (MAXQ.NE), a Canadian-owned commercial space company, for a price of $0.223 per share.

On the economic front, a report on Canadian manufacturing activity data in the month of October is due at 9.30 AM ET.

Canadian stocks settled higher on Friday, triggered by positive signs on easing of Canada-China trade friction after the leaders of the two nations discussed bilateral trade relations, with future meetings on the anvil for bettering mutual economic ties.

The benchmark S&P/TSX Composite Index closed at 30,260.74, up by 81.76 points or 0.27%.

In a significant development, Canadian Prime Minister Mark Carney and Chinese President Xi Jinping held their first formal talks in eight years on Fiday.

Asian stocks ended higher in thin trade on Monday, with Japanese markets closed for a public holiday. Investors monitored the latest trade developments after the White House released details of a new trade and economic agreement reached between U.S. President Donald Trump and Chinese President Xi Jinping in South Korea.

Beijing has reportedly agreed to suspend new export controls on rare earth metals and end investigations into U.S. firms in the semiconductor supply chain.

The major European markets are up in positive territory, although gains in some of the markets re up just marginal, with investors continuing to assess recent earnings and economic updates, and awaiting fresh batch of corporate results and economic data.

In commodities trading, West Texas Intermediate crude oil futures are down slightly at $60.95 a barrel.

Gold futures are gaining $27.70 or 0.69% at $4,024.20 an ounce, while Silver futures are up $0.335 or 0.7% at $48.495 an ounce.