Source: The Canadian Press

The Toronto stock market headed for a higher open Monday amid rising prices for oil and copper.

The Canadian dollar advanced against the greenback, up 0.16 of a cent to 101.33 cents US.

U.S. futures also indicated a positive start to the trading week with the Dow industrial futures ahead 30 points to 12,075, the Nasdaq futures up 2.5 points to 2,340 and the S&P 500 futures rose 3.6 points to 1,311.

Oil prices advanced despite the release of a weak U.S. employment report on Friday showing the American economy created only 36,000 jobs last month. But the jobless rate edged 0.4 of a point lower to nine per cent. The March crude contract on the New York Mercantile Exchange was up 24 cents to US$89.27 a barrel.

Copper prices built on Friday’s latest record close, up five cents to US$4.63 a pound.

Gold prices were slightly lower with the April bullion contract on the Nymex off 40 cents to US$1,348.60 an ounce.

The TSX advanced 2.6% last week as other data last week showed greater than expected expansion in the U.S. manufacturing and service sectors, oil prices advanced amid political unrest in Egypt while copper prices surged on higher demand.

Traders continued to closely watch developments in Egypt, where government officials met Sunday with some opposition leaders, including the outlawed Muslim Brotherhood, in an effort to negotiate an end to nearly two weeks of chaotic protests.

Shipping through Egypt’s Suez Canal has not been disrupted, but investors are also concerned political instability could spread to oil rich countries in the Middle East.

Earnings will be a major focus for Canadian investors this week with several major corporations reporting, with Teck Resources (TSX:TCK.B) and Gildan Activewear (TSX:GIL) report on Tuesday.

Also, fertilizer company Agrium (TSX:AGU), WestJet (TSX:WJA) and forestry company Canfor (TSX:CFP) are slated for Wednesday, while BCE Inc. (TSX:BCE), Air Canada (TSX:AC.B), Shoppers Drug Mart (TSX:SC) and gas giant EnCana (TSX:ECA) hand in earnings on Thursday. Uranium miner Cameco (TSX:CCO) wraps up the week on Friday.

Overseas, Tokyo’s Nikkei 225 stock average rose 0.5% , South Korea’s Kospi jumped 1.2% and Hong Kong’s Hang Seng index slipped 0.5%.

Indexes in mainland China and Taiwan remained closed for Lunar New Year holidays.

London’s FTSE 100 index climbed 0.75%, Frankfurt’s DAX gained 0.79% while the Paris CAC 40 was up 0.8%.

In other corporate news, Crystallex International Corp. (TSX:KRY) said Sunday that its contract to develop the Las Cristinas gold mine in Venezuela has been unilaterally terminated. Crystallex has considered the Las Cristinas mine in southern Bolivar state to be its principal asset, estimating it holds about 17 million ounces of gold.

Toy maker Hasbro Inc.’s fourth-quarter profit dropped 16% to US$140 million, or 99 cents per share. Analysts surveyed by FactSet expected lower earnings of 93 cents per share. Revenue dropped seven per cent to US$1.28 billion, missing Wall Street’s average estimate of US$1.31 billion.