(RTTNews) - Canadian stocks could turn back to the upside early Monday morning, following the lead of U.S. and European markets, as commodity prices are in the green. Volume is expected to be lighter than normal this week with the U.S. Thanksgiving on Thursday.

In commodities, gold has added $17.70 to $1,164.50 per ounce and copper added 4.8 cents to $3.182. Crude oil is at $78.60, up $1.88 per barrel.

Stats Canada reported retail sales rose 1% in September, compared to a 0.95% jump in the previous month. A rise of 0.4% was forecast. Excluding autos, sales were up 1.1%, compared to a revised 0.65% jump in August.

In corporate news, First Quantum Minerals (FM.TO) has reached a deal to acquire Kiwara in a cash and stock deal with GBP 43.68.

Northland Resources (NAU.TO) announced the resignation of Arden Morrow as president and chief executive officer. Morrow will continue as a member of the board of directors.

Across the border, Kraft Foods Inc. (KFT) is reportedly considering boosting its bid price to acquire Cadbury (CBY) to $16.3 billion, according to latest reports. U.S. chocolate maker Hershey Co. (HSY) and Swiss chocolate giant Nestle S.A have also evinced interest in Cadbury.

On Friday, the S&P/TSX Composite Index fell 20.97 points or 0.18% to finish at 11,579.33. The market fell for the second straight session after it had climbed in four sessions in a row.

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Posted in Categories: Canada, Eurozone, Releases, Stocks, Switzerland, UK, USA.

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