Bay Street Likely To Open On Mixed Note

(RTTNews) - Canadian shares are likely to open on a mixed note Monday morning, tracking global cues and commodity prices. While oil prices have climbed up sharply amid geopolitical tensions, metal prices have tumbled today.

Oil prices moved up in the backdrop of unrest in the Middle East, China's military drills around Taiwan as well as developments in the Ukraine peace talks. China's continued support for economic growth which is expected to boost consumption also lifted sentiment.

West Texas Intermediate Crude oil futures are up $1.30 or 2.3% at $58.04 a barrel.

Gold futures are down $73.30 or 1.6% at $4,479.40 an ounce, while Silver futures are lower by $2.341 or 3.03% at $74.855 an ounce.

The Canadian stock market ended the shortened trading session on Wednesday on a slightly weak note. Trading volume was thin as traders largely stayed on the sidelines ahead of Christmas holidays.

The benchmark S&P/TSX Composite Index settled with a loss of 58.97 points or 0.18% at 31,999.76 after moving between 31,194.73 and 32,079.65.

Healthcare and materials stocks were among the notable losers in the session. Shares from the rest of the sectors turned in a mixed performance.

Asian markets turned in a mixed performance on Monday with investors mostly making cautious moves, following the developments on the geopolitical front and awaiting fresh data for directional clues.

The major European markets moved up slightly in afternoon trading after swinging between gains and losses earlier in the session.