FX.co ★ Canadian Stocks Set to Open Lower

Futures linked to Canada’s benchmark stock index fell 0.4% on Tuesday, nearly wiping out the previous session’s gains and mirroring a cautious tone across global equity markets. Investors remained focused on the US midterm elections, even as oil prices resumed their upward climb and gold extended its decline. On the corporate front, Topaz Energy posted an adjusted third-quarter profit that exceeded expectations, while Toromont Industries reported quarterly revenue above analysts’ estimates. Meanwhile, Fairfax Financial Holdings’ proposed $5.5 billion acquisition of IDBI Bank is encountering resistance from employees and political parties, who are challenging both the lender’s valuation and the Indian government’s stake-sale process.