Futures trading is up slightly Monday, pointing to a positive start for the equities markets. A cross-section of Dow Jones industrial index companies, such as 3M, are filing their quarter reports and making good showings.
Here in Canada, Imperial Oil will lead off the week’s reporting Tuesday. Imperial is expected to show the combined benefit of higher demand due to hostilities in Iraq, labour trouble in Venezuela while cold weather boosted demand.
Later in the week, Imperial will be joined by colleagues EnCana, Suncor and Shell. Other companies reporting this week include Canadian National Railway, CP Rail, Dofasco and Stelco, Noranda, CP Ships, Open Text, Goldcorp Inc., Manulife Financial and Quebecor World.
It’ll be a quiet week on the economic front until later in the week when American GDP and consumer sentiment is reported.
European markets are closed today for Easter Monday. The Hong Kong market is also closed.
Tokyo’s Nikkei stock average gained 94.57 points to 7,969.08. Japanese investors were driven by gains in the American dollar against the yen, which will increase overseas earnings by Japanese exporters.
In business news, Air Canada is going back to court Tuesday. The company is expected to ask for an extension of its bankruptcy protection.