The Toronto stock market looked set for a lower open Tuesday, extending a series of losses amid worries that economic momentum is faltering in the U.S. and China.
Among stocks to watch this morning, Augusta Resource Corp. said it received a key environment permit for its fully-owned Rosemont copper project in Arizona.
Rio Verde Minerals Development Corp. said it got a trial mining permit for its Fosfatar phosphate project in Brazil.
Oil and natural gas whiz Vero Energy Inc. raised its 2012 production forecast as output from the Cardium assets in Alberta increased in the first quarter, helped along by higher number of wells drilled.
ON BAYSTREET
The S&P/TSX Composite Index fell 84.61 points Monday to 12,018.50
The TSX Venture Exchange fell 32.39 points to 1,448.65, while the Nasdaq Canada index slipped 1.81 points to 398.94
The Canadian dollar lost 0.26 of a cent to 100.09 cents U.S. as demand concerns pushed oil prices lower for a second day.
ON WALLSTREET
U.S. index futures were relatively unchanged with about two hours before markets open. Futures for the Dow Jones industrial average were up 13 points, or 0.1%, to 12,863. Futures for the broader S&P 500 were up 0.8 points to 1,375.70. Both indexes have fallen for the past four straight days, including Monday's 1% dip by the Dow.
Futures for the tech-rich Nasdaq traveled 7.75 points higher, or 0.3%, to 2,736.25.
Overseas, though, the action was far more negative, with European markets reopening following an extended Easter break. The U.K.'s FTSE 100 and Germany's DAX index were both down 0.9% in afternoon trading. In Asia, Japan's Nikkei 225 fell 0.1% in overnight trading.
Meanwhile, there is some fretting in China after the country reported a trade surplus in March.
While a surplus isn't a problem, the reason behind it is: Imports were weaker than expected, setting off concerns that the economy is heading for a hard landing -- which would likely disrupt the global economy.
In the commodities field, the May crude contract on the New York Mercantile Exchange lost 55 cents to $101.91 U.S. a barrel.
Bullion also moved higher while the June contract rose $3.70 to $1,647.60 U.S. an ounce.
