Stock futures pointed to a higher opening for Canada's main stock index on Tuesday after a two-day slide triggered by Britain's vote to leave the European Union.
The S&P/TSX Composite jettisoned 202.09 points, or 1.5%, to close Monday at 13,689.79. September futures moved 0.4% higher Tuesday.
The Canadian dollar repaired 0.29 cents to 76.75 cents early Tuesday
Air Canada, Canada's largest airline, said it finalized an order to buy 45 Bombardier Inc CSeries jets.
Fairfax Financial Holdings Ltd has agreed to buy 80% of PT Asuransi Multi Artha Guna Tbk (AMAG) for about $165 million U.S.
Desjardins raised the target price on Canadian Natural Resources to $41.00 from $36.00
Desjardins raised the rating on Husky Energy to buy from hold
Canaccord Genuity initiates coverage on Tamarack Valley Energy with a buy rating
ON BAYSTREET
The TSX Venture Exchange reversed 7.94 points, or 1.1%, Monday to 702.85
ON WALLSTREET
Investors’ sighs of relief could have launched a ship to sea Tuesday.
U.S. stock futures are firming, suggesting markets could open about 1% higher.
Ahead of the opening bell, futures for the Dow Jones Industrials rocketed 188 points, or 1.1%, to 17,173, while futures for the S&P 500 picked up 20.5 points, or 1%, to 2,005.50. NASDAQ futures jumped 43.75 points, or 1.1%, to 4,221.75.
Bank of America is up 2% in pre-market trading and JPMorgan Chase is up 1%.
Carnival is reporting earnings before the opening bell. Analysts are hoping the cruise operator will post strong results, capitalizing on the lower cost of fuel. Shares in Carnival climbed 1.6% pre-market. Nike will report earnings after the close.
There's some economic data too: The third estimate of first quarter U.S. GDP is expected at 8:30 a.m. ET, followed by consumer confidence data at 10 a.m. ET.
After two days of brutal losses triggered by the U.K.'s vote to leave the European Union, European markets opened higher Tuesday.
London's FTSE 100 is trading around 2% higher, but still 3.6% down on Thursday's close.
Global markets lost $3 trillion U.S. on Friday and Monday, the worst two-day rout on record. Major banking stocks have been particularly hard hit, and they're among the biggest winners in pre-market trading Tuesday.
Standard & Poor's downgraded the U.K. by two notches to AA on Monday, stripping the economy of its one remaining perfect triple A rating. Fitch also cut its rating by a notch to AA.
Asian markets struggled to shrug off the Brexit gloom and ended the session flat, Japan's Nikkei closed 0.1% higher, while Hong Kong's Hang Seng was 0.3% down.
Oil prices gained $1.25 to $47.58 U.S. a barrel
Gold prices slid $8.80 to $1,315.90 U.S. an ounce.
