Stock futures pointed to a flat opening for Canada's main stock index on Tuesday, with investors finding few reasons to buy in the absence of any major economic catalyst.
The S&P/TSX composite index retreated 60.53 points to close Monday at 15,509.39
The Canadian dollar dipped 0.04 cents to 91.10 cents U.S. early Tuesday.
Encana will sell its remaining stake in PrairieSky Royalty Ltd, the company it spun out to investors in May, in a $2.6-billion deal as it continues to raise funds to increase oil production.
Taseko Mines said on Monday it will buy mineral exploration and development company Curis Resources in an all-share deal, giving the Canadian miner access to the advanced-stage Florence copper project in central Arizona.
Gold miner Agnico-Eagle Mines has agreed to buy Cayden Resources Inc, a gold exploration company with projects in Mexico, for $205 million in shares and cash, the two companies said on Monday.
Investec cut the rating on Kirkland Lake Gold to reduce from hold.
On the economic front, Canada Mortgage and Housing Corp showed the seasonally adjusted annualized rate of housing starts slipped to 192,368 last month from a downwardly revised 199,813 units in July.
ON BAYSTREET
The TSX Venture Exchange plummeted 9.69 points Monday to 985.20.
ON WALLSTREET
Futures are somewhat mixed before the opening bell, as Apple unveils its long-awaited new product.
Ahead of the opening bell, futures for the Dow Jones Industrials fell seven points to 17,093. Futures for the S&P 500 slipped 0.25 points to 2,000.25, and futures for the NASDAQ hiked three points to 4,096.
Expectations are high for when CEO Tim Cook takes the stage at Apple's product launch. Apple is widely expected to unveil a pair of larger iPhones and possibly a smartwatch, marking the company's first entry into the wearable devices sector.
Historically, Apple's share price tends to suffer when it announces new gadgets as investors feel let down after building up high hopes. Since Apple is such a heavyweight stock, any major move in its share price could swing the broader U.S. market.
Barnes and Noble and Burlington Stores will report earnings before the opening bell. Krispy Kreme is set to report after the close.
The European Union announced Monday that member states had agreed new sanctions on Russia that could be implemented this week, depending on the fate of a ceasefire that went into effect in Ukraine on Friday.
European markets were mostly declining in early trading.
Oil prices gained $1.15 to $93.81 U.S. a barrel
Gold prices hiked $2.50 to $1,256.80 U.S. an ounce.
