Bay Street Likely To Open On Flat Note

(RTTNews) - The Canadian market is likely to open somewhat flat on Tuesday, tracking the mixed trend in commodity markets. Also, the mood is likely to remain cautious due to a lack of significant triggers.

In corporate news, Linamar Corp. (LNR.TO) has announced that it entered into a definitive agreement to purchase Georg Fischer Ltd's Leipzig, iron foundry in Germany for a consideration of 45 million euros. The transaction, which is expected to close by the end of 2025, is expected to increase Linamar's earnings per share with immediate effect.

On the economic front, Canadian trade data for August, and the IVEY PMI reading for September, 10are due at 8.30 AM ET and 10 AM ET, respectively.

The Canadian market closed modestly higher on Monday, supported by gains in materials and technology stocks. The benchmark S&P/TSX Composite Index fell early in the session but managed to climb again and settled with a gain of 60.20 points or 0.2% at 30,531.88.

Asian stocks ended mixed on Tuesday as the U.S. government shutdown dragged on and the French political turmoil deepened.

Trading volumes were thin as many regional markets, including China, Hong Kong and South Korea remained closed for holidays.

The major European markets are up in positive territory with modest gains, recovering after a cautious and somewhat sluggish start. Investors continue to closely follow the developments in France, and await fresh data for directional clues.

In commodities trading, West Texas Intermediate Crude oil futures are up $0.10 or 0.14% at $61.79 a barrel.

Gold futures are up $15.80 or 0.4% at $3,992.10 an ounce, while Silver futures are down marginally at $48.435 an ounce.