Canada's main stock index looked set to open higher on Tuesday, after a long weekend, as encouraging German economic data cheered investors, eclipsing last week's weak macro data.
The S&P/TSX composite index faded 35.16 points to end Friday at 12,686.63
The Canadian dollar faded another quarter of a cent to 98.71 cents U.S. Tuesday
Great-West Lifeco Inc. announced an agreement with the Government of Ireland to acquire, through its subsidiary Canada Life Limited, all of the shares of Irish Life Group Limited for $1.75 billion
Goldcorp. said that through its unit, Goldcorp USA Inc., it has received 22.06 million shares or about nearly 11.5 percent in the capital of Delta Gold Corp.
Publisher McGraw-Hill Ryerson reported improved fourth- quarter net income of $4.44 million or $2.22 per share, compared to $2.65 million or $1.32 per share in the same quarter last year.
Markets were closed Monday in honour of Family Day.
ON BAYSTREET
The TSX Venture Exchange lost 10.91 points Friday to 1,185.65.
ON WALLSTREET
U.S. investors begin the holiday-shortened week with what could be a quiet day of trading Tuesday.
Futures for the Dow Industrials gained 22 points, or 0.1%, to 13,970. Futures for the S&P 500 took on 2.8 points to 1,519.9, and futures for the NASDAQ gained 6.75 points, or 0.2%, to 2,768.
Markets were closed in the States for President’s Day Monday.
The National Association of Home Builders is scheduled to release its Housing Market index at 10 a.m. ET. Economists are expecting the index to rise to 48 in February, showing builder confidence is at a six-year high.
Separate reports on housing starts and building permits will follow on Wednesday, and data on existing home sales will be released Thursday. Investors will also be closely watching housing stocks, including Lennar, Pulte , Toll Brothers and D.R. Horton.
Shares of OfficeMax surged 20%, while shares of Office Depot jumped 29% in pre-market trading, a day after media reports said the companies were in advanced merger talks, citing unnamed sources. Staples, the other major office supplies retailer, also gained about 12%.
Best Buy shares rose 5.5% in pre-market trading after the electronics retailer announced late Friday that it plans to make its price-matching program permanent, starting March 3.
Dell and controversial nutritional supplements company Herbalife will announce their quarterly results after the closing bell.
A hearing is scheduled Tuesday in David Einhorn's lawsuit against Apple Inc Einhorn's hedge fund, Greenlight Capital has accused Apple of hoarding billions in cash and wants a judge to block a "bundled" shareholder vote, scheduled for Feb. 27.
Einhorn wants shareholders to vote separately on an Apple proposal that would limit the company's ability to issue high-yielding preferred stock.
Apple CEO Tim Cook has called the lawsuit a "silly sideshow."
European markets were firmer in afternoon trading, lifted by a stronger-than-expected reading from the latest ZEW survey of German investor sentiment. The euro gained against the dollar.
Asian markets closed lower. The Shanghai Composite lost 1.6%, the Hang Seng declined 1% and the Nikkei dropped 0.3%.
Oil prices inched up 14 cents to $96 U.S. a barrel
Gold prices took on $1.70 an ounce to $1,611.20 U.S.
