Canada's main stock index looked set to open higher on Tuesday, as markets remained optimistic that the European Central Bank was edging towards a new plan to resolve the region's crisis and prevent the collapse of the euro.
The S&P/TSX Composite index hiked 147.84 points, or 1.3%, to close Friday at 11,654.34. Canada stock futures traded up 0.5%
The Canadian dollar moved higher 0.31 cents Tuesday morning to 100.29 cents U.S.
Markets in Toronto were closed Monday for a provincial holiday.
Enbridge Inc. plans to restart a pipeline that leaked more than 1,000 barrels of crude onto a Wisconsin field after receiving the green light from U.S. regulators.
BHP Billiton is in talks with mining and retail group Harry Winston about a sale of its diamond business, according to the Financial Times.
Oil exploration and production company Gran Tierra Energy Inc's quarterly profit fell nearly 59% as production was hit by pipeline disruptions.
First Quantum Minerals has partnered with a Zambian company to develop a new copper mine in central Zambia
ON BAYSTREET
The TSX Venture Exchange gained 12.02 points to 1,185.65. The Nasdaq Canada index grew 8.29 points to 340.82.
ON WALLSTREET
U.S. stocks were headed for a higher open and a third straight day of gains Tuesday, as investors geared up for more corporate earnings and held out hopes that European officials are working on a plan to stave off a euro-zone collapse.
Futures for the Dow Jones Industrials leaped 36 points, or 0.3%, to 13, 103, about 30 minutes before the opening bell.
Futures for the S&P 500 gained 6.2 points, or 0.5%, to 1,396.10, and for the Nasdaq, futures gained 16 points, or 0.6%, to 2,702.50
U.S. stocks closed higher Monday amid continued momentum from Friday's upbeat jobs report and lower borrowing costs in Spain and Italy. The situation in both countries remains precarious, however, with fears looming that Spain may soon need a bailout.
Investors will receive a slew of earnings reports, including results from CVS Caremark, MGM Resorts and Sirius XM Radio
Disney, one of the Dow's best performers this year, reports after the closing bell Tuesday. Results due later in the week include News Corp, Macy's and J.C. Penney
While many bellwether companies have already reported second-quarter results, investors are still watching corporate earnings for clues about the health of the broader economy.
European stocks were mixed in afternoon trading. Britain's FTSE 100 fell slightly, while the DAX in Germany rose 0.6% and France's CAC 40 added 0.9%.
Asian markets finished higher. The Shanghai Composite ticked up 0.1%, the Hang Seng in Hong Kong rose 0.4% and Japan's Nikkei gained 0.9%.
Oil for September delivery rose 49 cents to $92.69 U.S. a barrel.
Gold futures for August delivery gained 60 cents to $1,613.50 U.S. an ounce.
