Nov 25 (Reuters) - Canada's main stock index futures were up on Monday over signs that the U.S. and China would agree on a phase-one trade deal by year end.
A Chinese state-backed tabloid said on Monday China and the United States were "very close" to an initial trade agreement, adding to optimism from Friday, when the presidents of both the countries reiterated their desire for a deal. Saturday, U.S. national security adviser Robert O'Brien said an initial trade agreement with China is still possible by the end of the year, though he warned Washington would not turn a blind eye to what happens in Hong Kong. futures on the S&P/TSX index SXFc1 were up 0.21% at 7:00 a.m. ET or 12:00pm GMT.
The Toronto Stock Exchange's S&P/TSX composite index fell 0.26% to 16,954.84 on Friday. Jones Industrial Average e-mini futures 1YMc1 were up 0.28% at 7:00 a.m. ET, while S&P 500 e-mini futures ESc1 were up 0.24% and Nasdaq 100 e-mini futures NQc1 were up 0.34%. .N
TOP STORIES TOP/CAN
Canadian miner Kirkland Lake Gold Ltd KL.TO said on Monday it would buy smaller rival Detour Gold Corp DGC.TO for about C$4.89 billion ($3.68 billion) in an all-stock deal, as it looks to scale up its mining operations and boost reserves. Group BHP.AX will pay 17.1 million pounds ($21.9 million) to become the biggest shareholder in SolGold Plc SOLG.TO , the majority owner of the Cascabel copper-gold project in Ecuador. banks this week are gearing up to report their slowest annual earnings growth since the global financial crisis, as analysts and investors brace for another challenging profit season due to tougher economic conditions. RESEARCH HIGHLIGHTS RCH/CA
Bank of Nova Scotia BNS.TO : Canaccord Genuity raises price target to C$77 from C$74
CI Financial Corp CIX.TO : Canaccord Genuity raises price target to C$25 from C$23.50
Canadian Western Bank CWB.TO : Canaccord Genuity raises target price to C$36 from C$34
COMMODITIES AT 7:00 a.m. ET COM/WRAP
Gold futures GCc2 : $1456.6; -0.48 % GOL/
US crude CLc1 : $57.66; -0.19 % O/R
Brent crude LCOc1 : $63.32; -0.11 % O/R
U.S. ECONOMIC DATA DUE ON MONDAY
0830 National Activity Index for Oct: Prior -0.45
1030 (approx.) Dallas Fed Manufacturing Business Index for Nov: Prior -5.10
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($1= C$1.33)