Jul. 9, 2009 (Action Economics) --

Canadian equities look set to rebound in tandem with Wall Street, getting a boost from Alcoa's better than expected results. Supportive of the energy sector, front-month crude has bounced 1.6% toward $61/bbl. Base and precious metal markets have also advanced, including a $5 rise for spot gold to $914/oz. Notably, Canadian M&A activity appears to be rebounding after a slow start to the year, set to reach C$100 bln in 2009, according to RBC, although still down significantly from the $334.9 bln peak seen in 2007. In corporate news, TD is in talks to become a U.S. primary dealer, according to Reuters. And Kinross Gold revealed that union workers at a gold mine in Chile have launched a strike.