Bay Street Likely To Open On Positive Note

(RTTNews) - Higher Canadian and U.S. futures and firm European stocks amid signs of de-escalation in tensions in the Middle East point to a positive start on Bay Street Tuesday morning.

In addition to following the developments on the geopolitical front, investors will be looking ahead to the Bank of Canada's interest rate decision due on Wednesday.

The Canadian bank is widely expected to hold its benchmark interest rate at 2.25% for a fifth straight meeting. The central bank's views on the economy and future policy stance are eyed.

In corporate news, Apotex Health Corp. (APTX.TO) announced an upsized initial public offering of $1.3 billion, up from the previously reported $1.0 billion. Apotex now expects the IPO to consist of between 54.17 million and 65 million common shares at an offering price between $20 and $24 per common share.

Canadian stocks closed marginally up on Monday as investors assessed U.S. President Donald Trump's reassurance on U.S.-Iran peace talks along with reports of Iran's preparations for a prolonged war with Israel.

The benchmark S&P/TSX Composite Index ended the day with a gain of 65.07 points or 0.19% at 34,478.52.

Asian stocks advanced on Tuesday as geopolitical tensions eased and tech stocks rebounded on bargain hunting. Risk appetite improved as the dollar weakened slightly and oil prices came off recent highs after Israel and Iran halted attacks on each other following a warning from U.S. President Donald Trump.

European stocks are broadly higher amid hopes of a U.S.-Iran peace deal following Israel and Iran halting their hostilities. Lower oil prices contribute as well to the positive mood in most of the markets in the region.

In commodities trading, West Texas Intermediate Crude oil futures are down $1.95 or 2.14% at $89.35 a barrel.

Gold futures are up $3.90 or 0.09% at $4,367.30 an ounce, while Silver futures are up marginally at $65.615 an ounce.