RTTNews - Canadian stocks could see weakness in early trading Monday with commodities heading lower. With a decline, the market would extend losses from last week.
Crude oil prices are down $2.65 to $64.08 per barrel in electronic trading. Meanwhile, gold has lost $11.00 to $921.50 and copper has dropped 4.2 cents to $2.2225.
In corporate news, WestJet (WJA.TO) said its June load factor was 72.9%, 3.6 points decline from 76.5% in the year-ago period. Revenue passenger miles or RPM decreased 7.1% to $1.02 billion from $1.10 billion in the year over year and available seat miles or ASM was down 2.5% to $1.41 billion from $1.44 billion over the same period.
Teck Resources (TCK.B.TO) announced the completion of statutory rail rate arbitration proceedings between its subsidiary and Canadian Pacific Railway. In a related development, Teck and Canadian National Railway or CN agreed relating to interchange of coal trains between CP and CN at Kamloops BC, for delivery by CN to the Vancouver area.
Pet Valu (PVC.TO) agreed to be acquired by certain affiliates of Roark Capital Group for $13.68 in cash or approximately $143.7 million.
On Friday, the S&P/TSX Composite Index climbed 37.19 points or 0.36% to close at 10,283.10. U.S. traders were off in observance of Independence Day. Toronto's main index finished a choppy week down 106.66 points on lower-than-usual volume.
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