Bay Street Seen Opening On Mixed Note

(RTTNews) - Canadian shares are likely to open on a mixed note on Tuesday, with investors tracking the movements in European markets and slightly lower commodities.

The focus is on the midterm elections in the U.S.

In Canadian company news, Pan American Silver Corp. (PAAS.TO) and Agnico Eagle Mines Limited (AEM.TO) announced that Yamana Gold (YRI.TO) has executed and delivered the arrangement agreement providing for the binding offer dated November 4, 2022. The Yamana Board unanimously recommended that Yamana shareholders vote against the arrangement between Yamana and Gold Fields at the shareholders' meeting.

The Pan American-Agnico agreement will become effective only upon the earlier of: the Gold Fields transaction not being approved at the Yamana meeting; or Gold Fields electing to terminate the Gold Fields Agreement.

TransAlta Corporation (TA.TO) announced net earnings attributable to common shareholders of $61 million or $0.23 per share in the third quarter of this year, compared to a loss of $1.68 per share for the same period in 2021.

Maple Leaf Foods (MFI.TO) reported a net loss of $229.5 million for the third quarter. That includes a non-cash impairment of goodwill in the Plant Protein segment of $190.9 million.

Canadian stocks ended mostly higher on Monday after fluctuating early on in the session. After briefly dipping below the unchanged line in early trading, the benchmark S&P/TSX Composite Index climbed 96.10 points or 0.5% to 19,545.91.

Asian stocks ended mixed on Tuesday amid concerns about the fate of China's zero-COVID policy and ahead of U.S. consumer inflation data due on Thursday that could influence the Federal Reserve's rate-hike narrative.

European stocks are turning in a mixed performance with investors largely making cautious moves as they look ahead to the midterm elections in the U.S.

In commodities trading, West Texas Intermediate Crude oil futures are down $0.41 or 0.44% at $91.38 a barrel.

Gold futures are down $5.60 or 0.33% at $1,674.90 an ounce, while Silver futures are lower by $0.074 or 0.37% at $20.845 an ounce.