Futures tracking Canadian equities advanced on Monday as a pullback in oil prices helped ease inflation concerns. Crude declined amid optimism over potential US–Iran diplomatic progress, and the resulting drop in oil prices contributed to slightly lower Canadian bond yields. This supported credit‑sensitive sectors such as banks, which have been under pressure from elevated inflation and higher interest rates.
Gold prices climbed, lending support to mining stocks. Barrick reported higher third‑quarter profit, with stronger gold prices more than offsetting lower production. Franco‑Nevada is scheduled to release its earnings on Wednesday.
In corporate news, Strathcona Resources announced on Sunday that it will acquire Greenfire Resources in a transaction valued at approximately C$2.7 billion to C$2.9 billion, including debt, strengthening its position in Alberta’s oil sands. Power Corporation of Canada is also slated to report its third‑quarter results on Wednesday.