Futures for Canada’s main stock index fell on Monday, hit by souring risk sentiment across global equities following warnings that Russia could invade Ukraine at any time.
The S&P/TSX Composite finished in the green 17.12 points to wrap up Friday at 21,548.84. On the week, the change amounted to 312 points to the good, or 1.47%.
The Canadian dollar ceded 0.16 cents to 78.42 cents U.S.
March futures plunged 0.7% Monday.
National Bank of Canada ups the price target on Constellation Software to $2,350 from $2,100
JP Morgan raised the rating on TELUS to overweight from neutral.
TD Securities raised the target price on Toromont Industries to $125.00 from $120.00
National Defence says Canada has temporarily withdrawn its Ukraine-based military personnel to an undisclosed destination in Europe, as Western countries fear Russia is preparing to invade Ukraine.
A pandemic-driven exodus of young families out of Canada’s largest cities has depleted a core age group of workers from the already tight labour market, which experts say risks accelerating wage inflation in certain industries.
ON BAYSTREET
The TSX Venture Exchange docked 4.11 points Friday to 868.77, still enjoying a weekly of 14 points, or 1.67%.
ON WALLSTREET
Stock futures were steady on Monday as investors monitored the tensions between Ukraine and Russia and potential Federal Reserve interest rate hikes.
Futures for the Dow Jones Industrials gained 18 points to 34,645.
Futures for the S&P 500 eked up 5.25 points, or 0.1%, to 4,414.75
Futures for the NASDAQ picked up 3.5 points to 14,244.
Futures cut their losses after comments from Russia’s Foreign Minister Sergey Lavrov to Vladimir Putin in Moscow that suggested Russia would continue diplomatic talks with the West over Ukraine, lowering tensions a bit following a market selloff Friday.
Investors are grappling with a potential war between Russia and Ukraine. A phone call over the weekend between U.S. President Joe Biden and Russian President Vladimir Putin, in which Biden attempted to dissuade Putin from attacking Ukraine, failed to achieve a breakthrough.
Some airlines have also halted or redirected flights to Ukraine amid the brewing crisis, while the Pentagon ordered the departure of U.S. troops in Ukraine.
Earnings are expected to ramp up again this week, with Nvidia, Walmart, Shopify, AMC and more scheduled to report.
Overseas, in Japan, the Nikkei 225 concluded Monday lower by 2.2%,, while in Hong Kong, the Hang Seng dipped 1.4%.
Oil prices flopped 44 cents to $92.66 U.S. a barrel.
Gold prices surged $16.40 to $1,858.50 U.S. an ounce.