Canadian stock index futures were little changed with investors limiting their positions ahead of a crucial vote in Cyprus aimed at saving the country from a debt default and banking collapse.
The S&P TSX index was down 48.27 points to end Monday at 12,781.76
The Canadian dollar lost 0.33 cents to 97.56 cents U.S. early Tuesday.
Lululemon Athletica Inc is pulling shipments of unexpectedly sheer women's yoga pants from its stores, in a move the athletic clothing maker said would hurt its bottom line.
Barrick Gold Corp said a shipment of gold which had been detained for four days by customs authorities in the Dominican Republic has been released and shipped.
Fertilizer maker Agrium Inc received a boost Monday in its proxy fight against hedge fund Jana Partners, as another shareholder sided with the board's candidates.
Speaking of things economic, Statistics Canada reported this morning that manufacturing sales edged down 0.2% in January to $48.0 billion, the fourth decline in five months.
The nation’s number crunchers also told us that wholesale sales rose by 0.3% in January to $49.0 billion, mostly due to higher sales in the computer and communications equipment and supplies industry.
ON BAYSTREET
The TSX Venture Exchange subsided 5.37 points to 1,111.78.
ON WALLSTREET
U.S. stock futures edged higher Tuesday, as investors tried to shake off concerns about Cyprus.
Futures for the Dow Industrials gained 20 points, or 0.1%, to 14,410. Futures for the S&P 500 progressed 3.5 points, or 0.2%, to 1,550.30, and futures for the NASDAQ hiked 10.75 points, or 0.4%, to 2,797.75.
In corporate news, Canadian athletic apparel maker Lululemon Athletica announced a recall of yoga pants that were unintentionally see-through. The company's stock plunged nearly 8% in premarket trading.
Shoe retailer DSW missed revenue forecasts and issued cautious guidance about sales. Software company Adobe Systems and home retailer Williams-Sonoma will report fourth quarter results after the close.
Electronic Arts Inc shares rose 1% in premarket trading after the company announced its chief executive was resigning. EA also said its revenue and earnings would be at the low end or below its January guidance.
Investors are worried that financial turmoil stemming from the heavily indebted island nation, where the European Union is trying to impose a one-time tax on bank accounts, will spread to Russia, Europe and even Wall Street.
The Cypriot parliament still has to decide on the tax, which would directly affect many Russian investors who have deposited money in Cypriot accounts.
Economically speaking, the U.S. Census Bureau said housing starts rose 0.8% in February, while building permits jumped 4.6%.
Building permit data is considered a proxy of builder confidence. Shares of homebuilders Lennar, Toll Brothers and Hovnanian rose in premarket trading.
European markets slumped in morning trading, while Asian markets ended mixed.
The ZEW Indicator, a measure of economic sentiment in Germany, notched up in March but was muted by Cyprus uncertainty and political turmoil in Italy.
Oil prices gained 24 cents to $93.98 U.S. a barrel
Gold prices slipped $2.60 an ounce to $1,602 U.S.
