Stock futures pointed to a higher opening for Canada's main stock index ahead of monthly gross domestic data which likely increased.
The S&P/TSX composite index plummeted 317.94 points, or 2.2%, to close the day at 14,490.15.
The Canadian dollar faded 0.05 cents to 80.58 cents U.S. Tuesday
Canadian markets are to be shuttered Wednesday for Canada Day.
Cenovus Energy Inc said it would sell its royalty lands business, Heritage Royalty Limited Partnership, to Ontario Teachers' Pension Plan for about $3.3 billion
Oando has agreed to sell a 60% stake in its downstream business to Vitol and Helios Investment Partners for $276 million, the energy company said. Its downstream business, with a market share of 12% in Nigeria, will be set up as an independent entity, but will retain the Oando brand.
National Bank Financial raised the target price on Element Financial to $24.00 from $21.00 to reflect the company’s acquisition of GE Capital’s Fleet management operations.
Canaccord says Manulife Financial presents a buying opportunity on Greek situation citing the company’s strong balance sheet.
National Bank Financial raised the rating on TIO Networks to outperform from sector perform saying that the company’s profitability is back on track.
On the economic beat, Statistics Canada’s said our Gross Domestic Product edged down 0.1% in April, the fourth consecutive monthly decline. A decrease in the output of goods-producing industries outweighed an increase in service industries.
ON BAYSTREET
The TSX Venture Exchange shed 12.29 points Monday to 667.09.
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ON WALLSTREET
North American markets appear ready to shake off the doldrums caused by all the fuss over in Europe.
Ahead of the opening bell, futures for the Dow Jones Industrials hiked 90 points, or 0.5%, to 17,692, futures for the S&P 500 gained 13.75 points, or 0.7%, to 2,064.25, and futures for the NASDAQ picked up 22.75 points, or 0.5%, to 4,400.75.
There's little on the economic slate Tuesday, though the Conference Board's releases its June consumer confidence index at 10 a.m. ET.
European stocks opened lower as Greece appeared set to watch a key debt deadline sail by.
Asian markets recovered from sharp losses to end Tuesday's session with gains. Japan's Nikkei index closed up 0.7%.
Giorgos Stathakis, Greece's economy minister, has told CNN that his country will most likely not pay the €1.5 billion ($1.7 billion U.S.) it owes to the International Monetary Fund on Tuesday, making it the first developed country to miss a payment to the IMF.
Greece's bailout program also expires Tuesday, and creditors have refused requests for extension, blocking the country's access to much-needed funds.
Greek banks are shut and capital controls in place as the country approaches a July 5 referendum which will decide its fate in the euro.
Prime Minister Alex Tsipras has hinted that he will quit if the Greek people vote yes in the referendum, and support the bailout proposal he rejected.
Oil prices regained 26 cents to $58.59 U.S. a barrel
Gold prices slumped $8.20 at $1,170.80 U.S. an ounce.
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