Stock futures pointed to a flat opening for Canada's main stock index on Tuesday, as investors turn cautious a day before second-quarter gross domestic product data is due.
The S&P/TSX Composite gained 42.13 points to close Monday at 14,682.01. September futures dipped 0.02% Tuesday.
The Canadian dollar sank 0.15 cents to 76.7 cents U.S. early Tuesday.
Bank of Nova Scotia reported third-quarter earnings that were ahead of market expectations, driven by growth in its domestic and international banking businesses.
Ritchie Bros Auctioneers Inc said on Monday it would buy IronPlanet, a privately held U.S. e-commerce site for used equipment, for about $758.5 million, as it looks to diversify its portfolio.
Twin Butte Energy debenture holders voted to reject a takeover bid by Hong Kong's privately held Reignwood Resources Holding Pte Ltd on Monday, throwing the cash-strapped Canadian oil and gas producer's financial future into uncertainty.
Barclays raised the target price on Dollarama to $105.00 from $98.00, with an equal-weight rating
Canaccord Genuity cut the rating on Twin Butte Energy to sell from hold; price target to zero from six cents.
On the economic front, Statistics Canada reported that its industrial product price index rose 0.2% in July. Higher prices for primary non-ferrous metal products were largely moderated by a decline in prices for energy and petroleum products.
The Raw Materials Price Index decreased 2.7%, as a result of lower prices for crude energy products.
ON BAYSTREET
The TSX Venture Exchange dipped 0.4 points Monday to 805.93
ON WALLSTREET
U.S. stock futures are holding steady, though the NASDAQ is getting weighed down by the pre-market Apple news.
Ahead of the opening bell, futures for the Dow Jones Industrials dropped three points to 18,486, while futures for the S&P 500 loosed 0.75 points at 2,178.5. NASDAQ futures slipped nine points, or 0.2%, at 4,784.25.
Hershey stock is plunging in extended trading after Cadbury owner Mondelez said it was abandoning attempts to acquire the iconic American chocolate maker.
In June, Hershey rejected a $107-U.S.-a-share takeover offer from Mondelez. The offer represented a 10% premium to Hershey's closing price at the time.
The two companies continued talking, but Mondelez said merger talks are now over.
There's a lot happening in the airline industry right now.
Shares in American Airlines were looking soft in extended trading after the firm said its president, Scott Kirby, was switching companies to work at United Continental.
Southwest Airlines is also in the spotlight after it reached a tentative compensation deal with 8,000 unionized pilots following four years of talks.
Shares in the for-profit educational provider ITT Educational Services could take another big fall Tuesday after it announced it had stopped enrolling all new students.
This comes just days after the U.S. Department of Education announced it was banning the institution from enrolling new students that use federal financial aid.
ARM Holdings shareholders are voting Tuesday on SoftBank's major takeover deal.
Softbank has offered £24.3 billion ($32 billion U.S.) in cash for the British tech firm, making it the biggest foreign takeover by a Japanese company.
A number of U.S. retailers are reporting earnings ahead of the bell, such as Abercrombie & Fitch, Christopher & Banks and DSW.
The main U.S. economic reports out today will focus on housing and consumers.
The S&P Case-Shiller Home Price Index for June comes out this morning, giving insight into the state of the U.S. real estate market.
European markets are mostly positive in early trading, though mining companies are weighing on the main U.K. markets. Asian stocks are generally faring well.
The European Commission is demanding that Ireland recover up to 13 billion euros ($14.6 billion U.S.) in unpaid taxes from Apple.
The EU agency has been probing the tax arrangements of Apple, Amazon and Starbucks in European countries over concerns the firms were getting special deals from governments hoping to attract companies.
Shares in Apple are dipping by about 3% pre-market.
Oil prices gained 38 cents to $47.36 U.S. a barrel
Gold prices skidded $4.20 to $1,322.90 U.S. an ounce.
