The Canadian stock market is likely to open on a firm note Monday morning, riding on positive news on coronavirus vaccine front, higher crude oil prices, and upbeat economic data from China and Japan.
The market will also be reacting to data on Canadian manufacturing activity in the month of September, and a report on new motor vehicle sales.
On Friday, the benchmark S&P/TSX Composite Index ended with a gain of 93.46 points or 0.56% at 16,675.64. Despite losing 1.1% on Thursday, the index gained 2.4% in the week.
The UK Ministry of Defence has contracted with CGI Inc. (GIB.A.TO) to be a key member of their supplier ecosystem to transition the digital delivery of healthcare for the UK's Armed Forces.
Asian markets closed mostly higher on Monday as upbeat GDP data from Japan and industrial output figures from China helped investors shrug off worries about rising coronavirus cases. The Indian market was closed for a holiday for Diwali Balipratipada.
European markets are up sharply, buoyed by an announcement from Moderna that the phase 3 trial of its coronavirus vaccine achieved 94.5% efficacy in preventing Covid-19.
In commodities, West Texas Intermediate Crude oil futures for December are up $1.75 or 4.36% at $41.88 a barrel.
Gold futures are sliding $10.10 or 0.5% at $1,876.10 an ounce, while Silver futures are down $0.295 or 1.19% at $24.480 an ounce.
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