Bay Street Likely To Open On Cautious Note
(RTTNews) - Lower U.S. futures and subdued European stocks point to a somewhat cautious start for Canadian shares on Tuesday. Firm crude oil and bullion prices could trigger some strong buying in energy and materials stocks and limit market's downside, if any.
SNC-Lavalin Group (ATRL.TO) announced that it has renewed a contract to provide construction engineering and inspection services in Georgia. The contract is worth $35 million.
Bank of Nova Scotia (BNS) has announced a collaboration with Immigration.ca, a newcomer website for individuals new to the Canadian immigration sector. This partnership aims to enhance access to trustworthy resources that assist newcomers in understanding the Canadian financial system.
The Canadian market ended slightly higher on Monday with stocks turning in a mixed performance with investors digesting the most recent economic data from the U.S.
The benchmark S&P/TSX Composite Index ended with a small gain of 18.22 points or 0.08% at 22,185.25, after moving between 22,110.60 and 22,204.74.
Asian stocks turned in a mixed performance on Tuesday. A stronger dollar and higher bond yields weighed on sentiment.
European stocks are subdued, with investors digesting U.K. and eurozone factory data, as well as Friday's report on U.S. inflation readings, and awaiting fresh economic data from the U.S.
In commodities, West Texas Intermediate Crude oil futures are up $1.32 or 1.58% at $85.03 a barrel.
Gold futures are gaining $24.10 or 1.07% at $2,281.20 an ounce, while Silver futures are up $0.652 or 2.6% at $25.725 an ounce.
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