Bay Street Seen Opening On Mixed Note

(RTTNews) - Canadian shares are likely to open on a mixed note Monday morning with investors assessing the possibility of further talks between in the U.S. and Iran and looking ahead to monetary policy announcements from several central banks, including the Bank of Canada and the Federal Reserve, this week.

The Bank of Japan, the European Central Bank and the Bank of England are also scheduled to make their monetary policy announcements this week.

Fairfax Financial Holdings, Celestica, TFI International and Advantage Oil & Gas are scheduled to report their quarterly results today.

The Canadian market closed little roughly flat on Friday as the prospects of an end to the gulf crisis amid reports indicating that Iran relaxed its hard stance supported the market. However, supply disruption concerns due to the closure of the Strait of Hormuz restricted the gains.

The benchmark S&P/TSX Composite Index ended the session with a loss of 8.82 points or 0.03% at 33,904.11.

Asian stocks ended mixed on Monday as upbeat Chinese data and investor enthusiasm around artificial intelligence offset concerns over stalled U.S.-Iran negotiations and Hormuz risks.

Regional losses, if any, were limited after reports emerged that Iran has made a proposal to the United States regarding the reopening of the Strait of Hormuz, a key oil shipping chokepoint.

The major European markets are up in positive territory, reacting to reports Iran has made a new proposal to the U.S. to reopen the Strait of Hormuz and end the war, and to defer nuclear talks to a later date.

In commodities, West Texas Intermediate Crude oil futures are up $0.85 or 0.89% at $95.25 a barrel.

Gold futures are down $23.70 or 0.5% at $4,717.20 an ounce, while Silver futures are down $0.829 or 1.08% at $75.585 an ounce.