BEFORE THE BELL: Oil prices continue to grow; Tim Hortons under federal scrutiny; Second Cup boosts shares with pot plans
World stocks are moving towards their biggest gain of the month as tensions ease over Syria. The MSCI gained, tracking global market trends, 0.1 per cent this morning after Donald Trump appeared to dial back his position on retaliation to a chemical attack on civilians in war-torn Syria.
In overnight trading the Nikkei posted a third week of gains as it grew .6 per cent to close at 21,778. Analysts say this is likely to carry over into markets on Wall Street and Bay Street this morning.
Oil continues its rally as it hits its biggest weekly advance in nine months gaining 8 per cent since Monday. The price of crude is up to 67.38 a barrel.
The Loonie is nearing the 80 cent mark as it gains to 79.65 cents US.
Tim Hortons is in the spotlight for investors as owner Restaurant Brands International is being investigated for allegedly breaking an agreement it made with the feds when it purchased the chain in 2014.
Canadian coffee chain Second Cup’s shares have jumped more than 30 per cent after the company announced plans to convert many of its shops into legal pot dispensaries when legalization hits this summer.