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Traders work on the floor of the New York Stock Exchange April 10, 2014. (BRENDAN MCDERMID/REUTERS)
Traders work on the floor of the New York Stock Exchange April 10, 2014. (BRENDAN MCDERMID/REUTERS)

At the open: TSX flat on valuations, Ukraine and earnings Add to ...

The Toronto stock market is little changed amid major dealmaking in the resource sector.

The S&P/TSX composite index added 3.95 points to 14,261.64 with investors cautious ahead of a heavy slate of U.S. earnings news this week and rising tensions in the standoff between Ukraine and Russia. The Canadian dollar advanced 0.15 of a cent to 91.23 cents (U.S.).

U.S. indexes were positive as earnings from Citicorp beat expectations and March retail sales came in much better than expected. The Dow Jones industrials climbed 88.62 points to 16,115.37, the Nasdaq was 29.63 points higher to 4,029.36 while the S&P 500 index gained 11.18 points to 1,826.87.

Mining giant Glencore Xstrata is selling its Las Bambas copper project in Peru to a group of Chinese state-owned companies for $5.85-billion (U.S.). Meanwhile, Caracal Energy Inc. has terminated plans to merge with a Calgary-based TransGlobe Energy company and reached a friendly deal to be acquired by Glencore Xstrata.

And Texas-based Stabilis Energy says it signed an agreement to buy substantially all the liquefied natural gas business of a subsidiary of Encana Corp. Financial terms of the deal involving Encana Natural Gas Inc. weren’t disclosed.

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