Canada's benchmark index looked set to open lower on Monday, dragged down by the weakness in precious metal and oil prices .
Oil prices were lower early on Monday, continuing a retreat from five-month highs touched last week on reports Russia is considering ending its production cuts agreed to with OPEC to secure market share threatened by rising US output. On the other hand, gold was down early on Monday to a three-month low even as the US dollar fell and investors moved away from risky stocks.
In stocks, eyes will be on Aphria (APHA, APHA.TO), which said it appointed two new independent directors, effective immediately. Walter Robb and David Hopkinson will fill two of the three current director vacancies.
The TSX rose 81 points on Friday, led higher by energy stocks.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
