Bay Street Set For Subdued Session -- Canadian Commentary

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( - Canadian stocks are poised for a quiet session Monday, having dropped to 6-month lows last week. Falling oil prices have hurt the energy sector, while concerns about the nation's housing bubble impacted financials.

WTI light sweet crude oil was up 10 cents at $44.91 a barrel, having slipped to its lowest since November.

Gold for August was down $4 at $1252 an ounce, the lowest in three weeks.

Land & Buildings Investment Management, LLC said it has issued a letter to the board of directors of Hudson's Bay Co. (HBC.TO), calling on the department store operator to evaluate all strategic alternatives to maximize shareholder value. Land & Buildings is a holder of about 4.3 percent of Hudson's Bay shares.

Magna International (MGA.TO) will produce BMW's new 5-series plug-in hybrid.

Valeant Pharmaceuticals International, Inc. (VRX, VRX.TO) announced its board has elected John Paulson to serve as a director, effective June 14, 2017. Paulson is the president of Paulson & Co., Inc., a New York-based investment firm.

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This article appears in: Stocks , World Markets , Politics
Referenced Symbols: BMW , MGA , NVDQ , SYK , VRX

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