Canada's resource-heavy main stock index looked set to open lower on Monday, hurt partly by a drop in commodity prices after weak trade data from China.
The Canadian dollar fell 0.14 cents to 100.78 cents U.S.
In Canada, investors will be keeping a close eye on Viterra Inc. after the Sunday Telegraph reported that Glencore PLC is behind a $5.5-billion offer for the Canadian grain handler. On Friday, Viterra said that it had received "expressions of interest" in the company, which sent the shares up more than 20%
Other stocks to watch this morning include Air Canada. The federal government is preparing back-to-work legislation for the airline so that it can respond quickly if there is any work stoppage at the airline, the government said on Friday.
Pulp producer Mercer International Inc. said the Court of Québec has reversed a cease trade order against a private placement of special warrants by Fibrek Inc to Mercer.
China's trade balance plunged $31.5 billion U.S. into the red in February as imports swamped exports to leave the largest deficit in at least a decade and fuel doubts about the extent to which frail foreign demand or seasonal distortion drove the drop.
U.S. index futures were almost unchanged with less than two hours before markets open, suggesting that stocks will be flat when trading begins. Futures for the Dow Jones industrial average were up 21 points or 0.2% to –12,862. Futures for the broader S&P 500 were down 3.6 points or 0.3%, to 1,363.20, and for the Nasdaq dipped 5.5, or 0.2%, to 2,638.25
In Europe, the U.K.'s FTSE 100 was unchanged, while Germany's DAX index was up 0.1% in overnight trading. At this point, the signoff on the Greek bailout looks to be more or less a formality, coming after a tumultuous few weeks in which Greece had to agree to the necessary budget cuts and strike an agreement with private bond holders to swap their bonds for new ones and take a loss of more than 50% on their investment.
The deals might not mark an end to Europe's sovereign-debt crisis, though. Apart from lingering concerns about Greece's ability to stave off default after its economic output has fallen sharply, there could still be Spain and Portugal to worry about.
Japan’s Nikkei 225 Index fell 0.4%, while the Hang Seng Index in Hong Kong grew 0.2%.
Commodity prices were slightly lower. Crude oil fell to $106.50 U.S. a barrel, down 0.9%. Gold fell to $1,706 U.S. an ounce, down 0.3%
