Bay Street Seen Opening On Mixed Note

(RTTNews) - The Canadian stock market is likely to open on a mixed note on Monday. Bargain hunting after three successive days of losses and slightly higher gold prices are expected to push the market up, but lingering concerns about trade and the uncertain political situation in the U.S. may weigh on sentiment and prompt investors to tread cautiously.

On Friday, the benchmark S&P/TSX Composite Index ended down 206.33 points, or 1.46%, at 13,935.44, slightly off the day's low of 13,924.38.

In company news, Ensign Energy Services Inc. (ESI.TO) and Trinidad Drilling Ltd. (TDG.TO) announced that Ensign's offer to purchase all the common shares of Trinidad for $1.68 per share has expired. Following this, Trinidad will proceed with the special meeting of Trinidad shareholders scheduled for January 31, 2019 to consider, and approve, a going private Subsequent Acquisition Transaction.

AutoCanada Inc. (ACQ.TO) announced on Friday that it has been awarded the right to a General Motors open point dealership featuring the Chevrolet, Buick and GMC brands in Maple Ridge, British Columbia, a community located in the northeastern sector of Greater Vancouver. The Company will construct an approximately 33,400 square foot facility designed to General Motors image standards, with construction expected to be completed in the first quarter of 2020.

Asian markets ended mixed on Monday as investors refrained from making big moves, weighed by the impact of a partial U.S. government shutdown and increasing trade tensions. Comments by White House Trade Advisor Peter Navarro that the U.S.-China trade war would not come to an end in near term weighed as well.

European markets were edging lower Monday morning amid lingering trade tensions and concerns over a partial U.S. government shutdown.

In commodities, crude oil futures for February were down $0.63, or 1.38%, at $44.96 a barrel.

Natural gas futures for February were declining by $0.136, or 3.63%, at $3.614 per million btu.

Gold futures for February were up $6.75, or 0.55%, at $1,264.85 an ounce.

Silver futures for February were edging up $0.030, or 0.2%, at $14.732 an ounce, while copper futures for March were down $0.011, or 0.47%, at $2.663 per pound.