RTTNews - Toronto stocks could see early strength on Monday, following the lead of U.S. and European markets. Investors will ponder data showing Canadian retail sales unexpectedly rose once again in June.
Statistics Canada reported retail sales in current dollars rose 1.0% in June to $34.4 billion. Retail sales have risen in five of the last six months, following large drops at the end of 2008.
On the commodity front, crude oil prices are up $0.23 to $74.12 per barrel, while gold has dropped $0.40 to $954.30 per ounce and copper slipped 1.2 cents to $2.882.
In corporate news, Biovail Corp. (BVF.TO) announced an agreement to buy the U.S. and Canadian rights to develop and commercialize Santhera Pharmaceuticals Holding AG's JP-1730/fipamezole for the treatment of Dyskinesia in Parkinson's Disease.
Crescent Point Energy Corp. (CPG.TO) said it has entered into an arrangement agreement to complete the strategic Lower Shaunavon consolidation acquisition of Wave Energy. Wave shareholders will receive 0.21 of a Crescent Point share for each Wave share, or approximately C$7.28 per share.
Daylight Resources Trust (DAY_U.TO) said it has agreed to acquire all of the issued and outstanding class A common shares of Highpine Oil & Gas Limited. Highpine shareholders will receive 0.85 of a Daylight trust unit, or $7.00 in cash per share held.
On Friday, the S&P/TSX Composite Index rose 130.67 points, to 10,831.18, with gauges of all but one of the major sectors closing in the green.
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