Canadian stocks may struggle to move higher at open Tuesday amid weak commodities and renewed concerns over the euro zone debt situation. Political uncertainty faced by Greece intensifies escalating concerns over the nation's ability to fix its fiscal problems.
U.S. stock futures were pointing to a marginally lower open.
On Monday, the S&P/TSX Composite Index extended gains for a fourth session, dipping 10.58 points or 0.09 percent to 11, 860.66.
The price of crude oil oil slipped back near a five-month low Tuesday morning as traders fret over demand growth amid uncertainty in the euro zone financial situation. Crude for June shed $1.03 to $96.91 a barrel.
The price of gold was moving lower Tuesday morning amid political uncertainty in Greece and a change of president in France, with traders overlooking data showing a sharp jump in exports of gold in March from Hong Kong to mainland China. China imported 135.53 tons of gold from Hong Kong in the first three months of 2012, up from 19.73 tons in the year ago period, data from the Census and Statistics Department of the Hong Kong government revealed. Gold for June dipped $11.30 to $1,627.80 an ounce.
In corporate news from Canada, gold-focused royalty company Franco-Nevada Corp. (FNV.TO) reported a much improved first quarter net income at $46.8 million or $0.33 per basic share from last year's $21.2 million or $0.18 per share. Adjusted net income moved up to $43.6 million or $0.31 per share from $22.1 million or $0.19 per share a year ago.
Mexico focused silver miner Endeavour Silver Corp. (EDR.TO) reported that its first-quarter net earnings increased to $19.8 million or $0.22 per share from $0.5 million or $0.01 per share in the year ago quarter. Adjusted earnings rose to $19.6 million or $0.22 per share from $14.5 million or $0.18 per share last year.
Beer and beverages company Molson Coors Brewing Co. (TPX_A.TO, TPX_B.TO) said its first quarter profit dropped to $79.5 million from $82.9 million last year. On a per share basis, earnings were $0.44, flat with the prior-year quarter. Adjusted earnings per share were $0.47, up from $0.43 in the same quarter a year earlier. Analysts were expecting the company to report earnings of $0.42 per share.
Industrial Machinery and Equipment dealer Wajax Corp. (WJX.TO) said its first-quarter net earnings grew to C$17.1 million or C$1.03 per share from C$12.8 million or C$0.77 per share recorded in 2011.
In economic news, Canada Mortgage and Housing Corp said the seasonally adjusted annualized rate of housing starts was 244,900 units in April, compared with 214,800 units in March. The March figure was revised down from 215,600 units reported previously.
Germany's industrial output growth beat expectations in March with production across most of the major industrial groups improving, data from the Federal Ministry of Economy and Technology showed. The seasonally adjusted industrial output rose 2.8 percent month-on-month in March following a 0.3 percent decline in February. Economists expected a 0.8 percent increase.
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Market Analysis
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.