Investors are set to brace for another round of selling today as the suspense over Greece builds.
The S&P/TSX Composite Index fell 155.81 points – or 1.3% -- to close out Tuesday at 11,704.85
The Canadian dollar traded this morning down 0.65 cents to 99.48 cents U.S. , below parity with its American counterpart for the first time in weeks.
Earnings on tap today include Enbridge Inc. and Agrium Inc. Earlier, Quebecor Inc. posted a 7% gain in revenue and 52% jump in profit. Tim Hortons Inc. reported a 5% increase in same store sales in Canada and almost 9% increase in the U.S., but earnings fell slightly short of expectations on the Street.
After the market closes today, companies reporting include Telus Corp., Canadian Apartment Properties REIT, Pacific Rubiales Energy Corp, MI Developments Inc., RONA Inc., Onex Corp., Denison Mines and Linamar Corp. In the U.S., analysts expect the tech bellwether Cisco Systems to deliver a solid quarter.
ON BAYSTREET
The TSX Venture Exchange tumbled 59.05 points to 1,338.37, while the Nasdaq Canada fell 0.47 points to 381.75.
ON WALLSTREET
In New York, futures on the S&P 500 are down 12.3 points, or 0.9% to 1,346.20, signaling that stocks will fall at the open.
Futures on the Dow Jones industrial average are down 72 points, or 0.6%, to 12,795. Futures for the Nasdaq gave back 18.50 points, or 0.7%, to 2,604.25
Investors remain preoccupied about Greece’s future status in the euro-zone and whether the country will default on its debt in the coming weeks. The weekend’s election has yet to produce a new government, but key players in Athens’s parliament are scheduled to meet at 5 p.m. local time today to discuss forming a coalition government.
Major markets overseas are all down. In London and Paris, the benchmark indices fell more than 1%. Spain’s market is down more than 3% and Germany’s DAX is off 0.57%.
Hong Kong’s Hang Seng index dipped 0.75% and Japan’s Nikkei 225 fell 1.5%.
Oil prices docked $1.14 a barrel to $95.87 U.S.
Gold prices fell $20.50 an ounce to $1,584. U.S.
