Toronto’s main stock index looked set for a higher open on Tuesday, after a report ignited expectations of an imminent bailout request from Spain.
The S&P/TSX composite index took on 52.73 points to end Monday at 12,370.19, with stock futures chugging up 0.6%.
The Canadian dollar nipped ahead 0.02 cents Tuesday morning to 101.80 cents U.S.
Stocks to watch this morning include Air Canada. The most vocal union at the airline operator registered on Monday only minor concerns about the airline's request for more government relief on pension deficit payments, and indicated it could make a decision in coming days on whether to support the bid.
Canadian Oil Sands Ltd., which is the largest-interest owner of the Syncrude project, said that operation produced an average of 318,900 barrels a day in September from 359,500 bpd in August, a fall of about 11.3%.
Canadian Pacific Railway Ltd said chief operations officer Mike Franczak resigned effective immediately, the latest top executive to leave the firm.
ON BAYSTREET
The TSX Venture Exchange climbed 4.19 points to 1,338.70
ON WALLSTREET
Futures for stocks on American markets were modestly higher, as investors stay cautious.
Futures for the Dow Jones Industrials marched ahead 39 points, or 0.3%, to 13,476, about 30 minutes before the opening bell. Futures for the S&P 500 gained 6.9 points, or 0.5%, to 1,443.80, and for the Nasdaq, futures jumped 13.25 points, or 0.5%, to 2,801.50.
Issues such as JPMorgan shares edged lower after New York state Attorney General Eric Schneiderman sued the financial giant over the sale of mortgage-backed securities during the housing bubble.
A judge ruled Monday that Samsung should be allowed to sell its Galaxy Tab 10.1 tablet computer in the United States, the latest development in a long-running patent dispute between the electronics maker and Apple.
European markets were mixed in morning trading, as worries about the health of Spain's banks and possibility of a bailout dominated.
Moody's said late Monday that Spain's banks may face a greater capital shortfall than the government estimated last week. As the clock approached noon on the continent, Britain's FTSE 100 rose 0.1%, the DAX in Germany gained 0.3% and France's CAC 40 remained flat.
Meanwhile, in Asia, Japan's Nikkei 225 index ended down 0.1%. Markets in Shanghai and Hong Kong were closed for a holiday. On Tuesday, Australia's central bank cut its interest rate to 3.25% over concerns about China's slowing growth.
Oil for November delivery rose 20 cents to $92.68 U.S. a barrel.
Gold futures for December delivery fell $1.90 to $1,781.40 U.S. an ounce.
