Canada Markets open in 9 hrs 5 mins

Energy Shares Prop up Futures

Baystreet.ca
Stock futures pointed to a slightly higher opening for Canada's main stock index on Tuesday, led by ...

Stock futures pointed to a slightly higher opening for Canada's main stock index on Tuesday, led by energy shares as supply disruptions buoyed crude prices.

The S&P/TSX Composite Index gained 80.56 points to close Monday at 16,452.34, a new all-time high.

The Canadian dollar descended 0.13 cents at 76.12 cents U.S. early Tuesday

September futures eked up 0.07% Tuesday

Alimentation Couche-Tard topped analysts' quarterly profit estimate on Monday as the world's second-biggest convenience store operator benefited from higher fuel sales and its acquisitions.

Canada Pension Plan Investment Board and Silicon Valley-based investor TCV are buying a stake in Sportradar, valuing the Swiss sports data group at 2.1 billion euros, including debt.

Intercity bus company Greyhound Canada said it would stop services in three western provinces in the country and eliminate 415 jobs there as it loses riders to low-cost airlines and subsidized passenger services.

TD Securities cut the target price on Altagas to $32.00 from $37.00

Raymond James raised the target price on Precision Drilling to $7.25 from $5.75

Canaccord Genuity raised the target price on Suncor Energy to $64.00 from $58.00

On the economic docket, the value of building permits issued by Canadian municipalities increased 4.7% to $8.2 billion in May. This followed a 4.7% drop in April, the only month this year where municipalities reported a total value below the $8-billion mark.

ON BAYSTREET

The TSX Venture Exchange reversed 0.4 points Monday to 739.70

ON WALLSTREET

U.S. stock index futures posted mild gains ahead of Tuesday’s open, supported by positive trade overseas.

Futures for the Dow Jones Industrials triumphed 54 points, or 0.2%, to 24,828

S&P 500 futures took on four points, or 0.1%, to 2,791.50, while futures for the NASDAQ composite climbed 12.25 points, or 0.2%, to 7,312.50

Earnings season kicked off on Tuesday with PepsiCo reporting a better-than-expected quarterly profit. The company's stock rose 1.7% in the pre-market.

Investors will be awaiting any news surrounding trade, after the U.S. and China exchanged tariffs of $34 billion on one another last Friday.

As President Donald Trump heads to Europe this week, investors will be watching the interactions the U.S. incumbent has with European leaders.

On Wednesday and Thursday, Trump will be in Brussels attending a NATO meeting, before he heads to the U.K. to meet with the British Prime Minister Theresa May later in the week.

Overseas, investors will be keeping an eye on Brexit, after news emerged Monday that both U.K. Foreign Secretary Boris Johnson and Brexit Secretary David Davis had resigned from their posts, amplifying pressure on May and her government over future Brexit negotiations.

Overseas, in Japan, the Nikkei 225 gained 0.7%, while in Hong Kong, the Hang Seng index fell six points.

Oil prices gained 22 cents to $74.07 U.S. a barrel.

Gold prices slid $9.30 to $1,250.30 U.S. an ounce.