Canadian Stocks Poised For Positive Open Amid Easing Oil Prices

(RTTNews) - Higher Canadian and U.S. futures amid easing oil prices and global bond yields point to a positive open on Bay Street Tuesday morning.

West Texas Intermediate Crude oil futures are down $2.35 or 2.63% at $87.08 a barrel.

Gold futures are up $49.50 or 1.18% at $4,206.30 an ounce, while Silver futures are gaining $0.680 or 1.11% at $61.980 an ounce.

The Ivey PMI reading for the month of September is due at 10 AM ET. Canada's Ivey PMI rose 4-1/2 - year high of 64.3 in August from 55.1 in July, beating forecasts of 56.2.

In corporate news, Emera Inc. (EMA.TO) and Canadian Utilities Ltd. (CU.TO), a subsidiary of ATCO Ltd. (ACO.X), announced today that they have agreed to combine in an all-share merger of equals, creating a utility and energy infrastructure company with a pro forma enterprise value of about C$72 billion.

The combined company, which will operate as Emera, is expected to have about C$45 billion in rate base and serve six million customers across Canada, the U.S. and international markets.

CGI Inc. (GIB.TO) announced today that the French Ministry of Agriculture, Agri-Food and Food Sovereignty has selected it to modernize the ministry's information system. The program will transform more than 70 business applications, with a focus on improving performance, accessibility, resilience and sustainability.

The Canadian market closed slightly up on Monday, recovering from early weakness. The benchmark S&P/TSX Composite Index ended up by 15.90 points at 35,518.55.

Asian stocks advanced on Tuesday as weak oil market helped ease concerns around inflation and input costs.

Despite some weak regional economic data, the major European markets are up firmly in positive territory thanks to lower oil prices and global bond yields.