Stock futures pointed to a lower opening for Canada's main stock index as U.S. oil remained anchored at a six-year low, adding pressure on energy stocks.
The S&P/TSX composite index dipped 26.35 points to finish Monday at 14,251.53
The Canadian dollar erased 0.08 cents to 76.35 cents U.S. early Tuesday
Enbridge Inc is rationing space for mid-month on its line 4/67 ex Kerrobert for August, according to a notice to shippers on Monday that was seen by Reuters. Line 4/67, which is a part of its mainline system, would be apportioned by an additional 5% for August, the notice said.
Germany's K+S signed a supply deal for potash fertilizer from its Legacy mine in Canada, saying the agreement strengthened its position as an independent supplier as it battles an unwanted takeover bid from Canada's Potash. The salt and fertilizer producer said it had agreed an exclusive deal to supply Koch Fertilizer with 500,000 tones per year of granular potash for Koch's U.S. customers, representing about a quarter of the mine's capacity.
Roth Capital cut the rating on Alter NRG Corp to neutral from buy and reset price target to C$5 from C$3.50 after Harvest International New Energy Co took possession of 26.5 million common shares that were tendered for Harvest’s $5.00 share offer.
CIBC cut the target price on B2Gold Corp to $3.25 from $3.50 after the company announced in-line second-quarter results.
Input Capital reports Q1 earnings today, expecting a breakeven per share.
Route1 expects Q2 earnings of breakeven per share
ON BAYSTREET
The TSX Venture fell 2.36 points Monday to 570.85.
ON WALLSTREET
Investors are on edge after China stocks suffered a savage fall on Tuesday. U.S. stock futures were slipping and global markets retreated.
Ahead of the opening bell, futures for the Dow Jones Industrials fell 60 points, or 0.3%, to 17,444, futures for the S&P dipped six points, or 0.3%, to 2,093.25, and futures for the NASDAQ dropped 15 points, or 0.3%, to 4,549.75
There are plenty of earnings to digest including quarterly results from some big box retailers. Walmart, Home Depot, TJ Maxx and Dick's Sporting Goods are due to report before the open. DeVry Education will report after the close.
SanDisk shares are ones to watch Tuesday. The tech firm was trading down nearly 2% pre-market.
On the economic front, the U.S. Census Bureau will publish July numbers for housing starts and building permits this morning.
European markets headed lower in early trading, with France's CAC index down 0.4% and the U.K. FTSE index off by 0.5%.
The bears are once again stalking Chinese markets. The Shanghai Composite closed down 6.2% and the smaller, tech-heavy Shenzhen index slumped 6.6%.
China has been rocked by months of volatile trading, and investors are now worried about a possible withdrawal of stock market support by Beijing, and signs of a sharper slowdown in the economy.
Oil prices slid 20 cents to $41.67 U.S. a barrel
Gold prices fell $1.20 to $1,117.20 U.S. an ounce.
