Stock futures pointed to a higher opening for Canada's main stock index ahead of the Bank of Canada rate decision.
Toronto’s S&P/TSX composite index was ahead 122.15 points to finish Monday at 14,533.22
The Canadian dollar slipped 0.11 cents to 78.38 cents U.S. early Tuesday
Swiss bank Syz & Co said it would buy the Royal Bank of Canada’s Swiss private bank, including 10 billion Swiss francs under management, the latest move by a foreign bank to exit Switzerland. RBC said it was exiting Switzerland in order to streamline its private banking activities.
A Quebec judge rejected Canadian Pacific Railway’s challenge to a settlement for victims of the Lac-Megantic crude-by-rail disaster on Monday, helping clear the way for compensation payments.
Parties previously named in a class action lawsuit, including closely-held Irving Oil, General Electric, Shell Oil Company, ConocoPhillips, Marathon Oil and others, have agreed to contribute to a $431-million compensation fund for victims of the July 6, 2013 rail disaster.
BMO cuts price target to on WestJet Airlines to $33.00 from $37.00 based on underperformance of the company, particularly over the past nine months, renders the risk/reward in the stock more compelling.
BMO cuts price target on Air Canada to $17.00 from $18.00 based on the company second-quarter preview and forward average fares holding well despite elevated ASM growth.
Alimentation Couche-Tard Inc reports earnings today, expecting Q4 earnings of 27 cents per share
Theratechnologies Inc., also reports, projecting a Q2 loss of two cents per share
ON BAYSTREET
The TSX Venture Exchange added 2.49 points Monday to 643.47
.
ON WALLSTREET
Markets are looking calm Tuesday though a landmark deal on Iran's nuclear program is hitting oil prices.
Ahead of the opening bell, futures for the Dow Jones Industrials faded seven points to 17,893, futures for the S&P 500 fell one point to 2,093.50, and futures for the NASDAQ gained 4.25 points, or 0.1%, to 4,492.25
It's a busy day for earnings updates. Wells Fargo, Johnson & Johnson and JP Morgan Chase all report ahead of the open. Yum! Brands -- which owns Taco Bell, Pizza Hut and KFC -- will report after the close. Its stock is up 25% this year, but analysts forecast a 12% drop in the restaurant company's earnings.
Chinese state-owned firm Tsinghua Unigroup is preparing a $23-billion bid for U.S. chipmaker Micron, the Wall Street Journal reported on Tuesday. Micron shares were up 10% in pre-market trading.
Iran and the West have ended long-running negotiations with a deal that will lift sanctions in exchange for curbs on Tehran's nuclear program.
Sanctions have hobbled Iran's economy and restricted oil production and exports, and the country is eager to regain its status as a global energy power.
Prime Minister Alexis Tsipras will face disgruntled colleagues and the Greek public as he seeks approval for a new bailout. The deal contains tough new austerity measures and Greek lawmakers will vote on the first package of reforms, which include pension cuts and tax increases, on Wednesday.
The bailout could inject up to $96 billion U.S. into the distressed economy, but it's not a done deal yet.
European markets were losing a little ground in early trading, with Germany's DAX down 0.3% and France's CAC dipping 0.2%.
Asian markets ended with mixed results. Japan's benchmark Nikkei index closed up 1.5% while the Shanghai Composite snapped a three-day winning streak to close down 1.2%.
Oil prices dipped 19 cents to $52.01 U.S. a barrel
Gold prices sank $2.40 at $1,153.00 U.S. an ounce.
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