Canada's main stock index looked set to open lower on Tuesday, as worries over the political uncertainty in the euro-zone crimped investor appetite and pushed commodities lower.
The S&P/TSX Composite Index remained negative by 10.57 points to close at 11,860.66.
The Canadian dollar traded this morning down 0.06 cents to 100.47 cents U.S.
Among the stocks to watch in Canada this morning, Air Canada and the union representing its 3,000 pilots will start 10 days of talks on Thursday under a government-appointed arbitrator, in a final effort to agree on a new labour contract.
Uranium One Inc. reported a drop Monday in quarterly profit as lower realized uranium prices outweighed higher sales volumes.
Miner Alexco Resource Corp. said its quarterly profit fell 62% hurt by lower metal prices.
Rival miner Avalon Rare Metals Inc. said on Monday it expects delays in a feasibility study on its flagship Nechalacho rare earth project in the Northwest Territories, as it needs more time to complete metallurgical studies.
ON BAYSTREET
The TSX Venture Exchange slipped 7.63 points to 1,397.42, while the Nasdaq Canada fell 7.52 points to 382.22.
ON WALLSTREET
U.S. stocks were set to open lower Tuesday as Greece's uncertain political situation keeps investors on edge.
Dow Jones industrial average futures were down 76 points, or 0.6%, to 12,883, about a half hour before the markets opened. Futures for the S&P 500 sank 7.10 points, or 0.5%, to 1,358.70, and Nasdaq futures were down 16.50 points, or 0.6%, to 2,620. Stock futures indicate the possible direction of the markets when they open at 9:30 a.m. ET.
All eyes will continue to be on Europe, a day after Greece's main centre-right party failed to form a coalition government. Now, the left-wing coalition, which is opposed to austerity as the way to close Greece's debt gap, will have three days to form a government.
The latest development feeds investors' fears that Greece might have to drop out of the euro-zone.
European stocks dropped in morning trading. Britain's FTSE 100 was little changed. The DAX in Germany shed 0.6%, while France's CAC 40 fell 1.6%.
Both the DAX and CAC rebounded to end Monday higher after initially selling off in the aftermath of the election.
Asian markets ended mixed. The Shanghai Composite slid 0.1% and the Hang Seng in Hong Kong lost 0.2%, while Japan's Nikkei rose 0.7%.
Oil for June delivery fell 85 cents to $97.09 U.S. a barrel.
Gold futures for June delivery dropped $10.30 to $1,628.80 U.S. an ounce.
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