Stock futures pointed to a higher start for Canada's main stock index as oil showed signs of stabilizing.
The S&P/TSX composite index dropped 126.2 points, or 1%, to end Monday at 12,319.25, running its current slump to nine straight sessions, its longest slump since 2002.
The Canadian dollar acquired 0.15 cents to 70.49 cents U.S. early Tuesday.
A joint venture between SNC-Lavalin Inc. & Aecon Group Inc was awarded a $2.75-billion contract to replace the main reactor components at a nuclear power plant in Darlington, Ontario. The refurbishment, expected to take 10 years, will provide 3,500 megawatts of power. The provincial government said the overall project is budgeted at $12.8 billion.
Eldorado Gold expects that the suspension of much of its mine activities in Greece after confrontation with the country's leftist-led government will cost more than 600 jobs, its chief executive said. Eldorado has said it would suspend construction at its Skouries project in northern Greece, warning that it would do the same at its Olympias project if it did not receive a permit by the end of March.
Goldcorp’s chief executive said the company will increasingly have to look for large gold deposits outside the Americas as these are scarcer than "hen teeth.”
Canaccord Genuity starts coverage on Quebecor Inc with a buy rating and $41.00 target price based on recent momentum in stock as wireless results strengthen and national wireless risk recedes.
ON BAYSTREET
The TSX Venture Exchange slid 7.35 points Monday to 512.02
ON WALLSTREET
U.S. stock futures are up more than 0.5% and markets are higher in Europe.
Ahead of the opening bell, futures for the Dow Jones Industrials vaulted 154 points, or 1%, to 16,441, futures for the S&P 500 hiked 18.75 points, or 1%, to 1,933. NASDAQ futures jumped 45.5 points, or 1.1%, to 4,318.5.
Shares in Alcoa dipped more than 2% during extended trading. It issued an earnings update Monday which showed it missed fourth quarter revenue forecasts thanks to lower metal prices.
Tesco, one of the world's biggest retailers, jumped 5.5% in London after a rival reported better than expected Christmas sales and an upbeat assessment by analysts at Barclays. Tesco reports Christmas sales Thursday.
CSX, a railroad and transportation company, will report its quarterly results after the close.
European markets are green across the board with Paris and Frankfurt jumping more than 2%, while Asian markets ended mixed, with the Nikkei closing down 2.7% as oil and mining shares took it on the chin.
China's main markets in Shanghai and Shenzhen both ended with modest gains.
Hong Kong listed Dalian Wanda announced that it's acquiring the Hollywood studio Legendary Entertainment, whose recent box office hits include "Jurassic World" and "Interstellar." Wanda already owns the AMC chain of movie theaters.
Oil prices moved up seven cents to $31.48 U.S. a barrel
Gold prices slid $5.60 to $1,088.60 U.S. an ounce.
