Equity markets in Toronto braced for a lower open Tuesday as commodity prices started to recover from sharp price drops.
The S&P/TSX composite index eked up 2.98 points to finish Monday at 14,302.06
The Canadian dollar moved lower 0.08 cents at 89.96 cents U.S. early Tuesday
On the corporate front, Osisko Mining Corp. is urging shareholders to sit on the sideline while its board continues the search for an alternative to an ongoing hostile takeover attempt by Goldcorp Inc. Goldcorp has extended its hostile deadline for accepting the offer until March 21. But Osisko noted Tuesday that its adversary is prevented from buying more shares until April 15.
Canadian exporters also watched developments in Vancouver where a strike by container-truck drivers serving Port of Metro Vancouver terminals is growing. Members of Unifor-Vancouver Container Truckers' Association parked their vehicles Monday, joining members of the non-union United Truckers Association who have been on strike since last month.
The groups reached a tentative deal with employers last week, but the members voted against the agreement over the weekend.
ON BAYSTREET
The TSX Venture Exchange was negative 0.16 points Monday to 1,042.85
ON WALLSTREET
U.S. stock futures were relatively steady ahead of the opening bell Tuesday morning.
Ahead of the opening bell, futures for the Dow Jones Industrials slid 13 points, or 0.1%, to 16,400. Futures for the S&P 500 fell 1.6 points, or 0.1%, to 1,875.60, and futures for the NASDAQ skidded 0.75 points at 3,706.75
Tuesday sees little scheduled economic and corporate news that could drive markets.
Dick's Sporting Goods reported earnings and revenue roughly in line with forecasts.
Shares in Urban Outfitters, which includes the brands Anthropologie and Free People, declined after the retailer reported quarterly revenue that fell short of analysts' expectations.
European markets were muted in morning trading. Most Asian markets ended with small gains.
Oil prices slid five cents to $101.07 U.S. a barrel
Gold prices hiked $7.50 to $1,349 U.S. an ounce.
