Source: The Canadian Press

Resource stocks could give the Toronto stock market some modest lift at the open on Monday amid rising oil and gold prices.

The Canadian dollar moved up 0.18 of a cent to 97.68 cents US as bullion moved further into record territory and oil continued to build on Friday’s strong gain in the wake of strong U.S. durable goods orders data.

U.S. futures pointed to a positive open, building on last week’s strong advance, amid a string of corporate dealmaking.

The Dow Jones industrial futures gained 14 points to 10,798, the Nasdaq futures were up 1.75 points to 2,020 while the S&P 500 futures were ahead 0.9 of a point to 1,144.1.

With no new economic reports to be released Monday, investors turned their attention to individual companies for insight into the health of the economy.

Consumer products maker Unilever NV has agreed to buy beauty products maker Alberto Culver Co. for US$3.7 billion. Wal-Mart Stores Inc. proposed to buy South African consumer goods distributor Massmart Holdings Ltd. for approximately US$4.25 billion.

Corporate takeovers are a positive sign because they mean companies are increasingly willing to take large cash reserves built up during the recession and invest them to grow operations.

Meanwhile, the November crude contract on the New York Mercantile Exchange gained 33 cents to US$76.82 a barrel.

The December bullion contract on the Nymex was ahead $2.80 to US$1,300.90 an ounce. Gold has closed at a series of record highs during September as investors look for a hedge against fears of inflation and U.S. currency weakness.

December copper in New York was unchanged at US$3.62 a pound.

Stocks have rallied sharply throughout the month as investors gained more confidence that the economic revival is on track, even as economic growth slows from the levels of earlier this year. Economic reports have regularly topped modest forecasts and mergers and acquisitions activity has picked up.

The TSX’s main index is up about 2.4% for September, which is historically the weakest trading month of the year, while the Dow Jones industrial average is up 8.4% for the month. However, both indexes are up about 4% year to date.

Earlier in Asia, Japan’s Nikkei 225 stock average climbed 1.4% with exporters advancing as investors bet the central bank will try to weaken the yen with further monetary easing when it meets next week. The yen hit fresh 15-year highs against the U.S. dollar this month, and led the government to intervene in currency markets to weaken the yen for the first time in six years.

South Korea’s Kospi added 0.8% and Hong Kong Hang’s Seng advanced 1%. China’s Shanghai Composite Index rose 1.4%.

London’s FTSE 100 index dipped 0.09%, Frankfurts DAX added 0.1% while the Paris CAC 40 was down 0.07%.

In other corporate news, Australian mining giant BHP Billiton is calling legal claims that it conspired to drive down potash prices before making its hostile bid for Potash Corp. of Saskatchewan (TSX:POT) “implausible” and the lawsuit a tactic to assess the competition. Later Monday, BHP’s lawyers are expected to appear in a Chicago courtroom to request rejection of part of the lawsuit that demands the company immediately hand over reams of documents detailing its decision to enter the potash industry and make last month’s US$38.6-billion bid for Potash Corp.

Bell Canada has reached a settlement in a class action lawsuit over late charges billed to some of its customers in Ontario. The company, owned by BCE Inc. (TSX:BCE), had been embroiled in a suit from customers wireless and home phone customers who claimed they were charged late fees for bill they paid before the listed deadline.