Stock futures pointed to a lower opening on Bay Street on Tuesday after deadly blasts in Brussels shook up investor sentiment and prompted a flight towards safe-haven assets such as gold.
The S&P/TSX Composite Index strengthened 64.02 points to close Monday at 13,561.02. June futures were off 0.5% early Tuesday.
The Canadian dollar eked up 0.06 cents to 76.4 cents U.S. early Tuesday.
Experts say a move by Valeant Pharmaceuticals International to single out two former top executives over its accounting problems is likely a bid to win leniency with government agencies investigating the drug maker.
Canaccord Genuity ups its target price on First Quantum Minerals to $9.00 from $6.00
Canaccord then raised its target price on Lundin Mining to $6.00 from $4.50
J.P. Morgan resumed coverage on Suncor Energy with a neutral rating, setting a price target of $34.00
Tuesday is Federal Budget Day in Canada, and Finance Minister Bill Morneau has promised stimulus spending to boost economic growth. The document will be presented in the House of Commons at the close of markets Tuesday.
ON BAYSTREET
The TSX Venture Exchange gained 1.59 points Monday to 582.41
ON WALLSTREET
Global markets and U.S. stock futures are falling after a suicide attack on Brussels airport in Belgium.
Ahead of the opening bell, futures for the Dow Jones Industrials slid 62 points, or 0.4%, to 17,466, futures for the S&P 500 fell 10.25 points, or 0.5%, to 2,032.5. NASDAQ futures skidded 23.5 points, or 0.5%, to 4,392.75
Krispy Kreme and Nike are both reporting third quarter results after the closing bell. Nike revealed self-tying sneakers last week.
Twin blasts hit Brussels airport early Tuesday. They were followed by an explosion in a subway station in the city.
Belgian media reported least 26 people were killed, according to Belgian media, 15 at a subway station and at least 11 at the airport.
All European markets opened lower following the explosions in Belgium. The euro is trading lower against most major world currencies.
Asian markets closed the session mixed, with Chinese markets down while Japan's Nikkei added 1.9%.
Oil prices dipped 43 cents to $41.09 U.S. a barrel
Gold prices advanced $10.60 to $1,254.36 U.S. an ounce.
