(RTTNews) - Bay Street stocks are poised for a lackluster session Monday amid easing commodities prices. Traders might turn cautious ahead of a host of corporate earnings reports from south of the border. Also, profit taking at higher levels, after the main index gathered over 4% in the past four sessions, might weigh on the markets. U.S. stock futures were pointing to a lower open. Meanwhile, most Asian markets ended marginally higher after China’s customs agency said exports were up 35% in June year-over-year . However, traders were cautious trading ahead of earnings reports from major companies in the U.S. The Japanese market was down amid political uncertainties. Stocks in Europe were little changed, after a four-day rally. On Friday, the S&P/TSX Composite Index gained for a fourth session, adding 137.09 points or 1.20% to 11,570.45. The price of crude oil eased Monday morning after rising for the past three sessions. Crude for August was down $0.22 to $75.87 a barrel. Over the weekend, data from the General Administration of Customs, China revealed the nation’s net crude purchases climbed to 22.14 million tons in June, surpassing the previous record of 20.98 million tons in April. The price of gold ticked lower, with gold for August slipping $6.60 to $1,203.20 an ounce. Mining stocks may be in play as the price of copper fell from a two-week high after the Chinese customs office said imports of copper and products fell 17% to 328,231 tons in June from the previous month. In international M&A news, insurance company Aon Corp. said it will buy human resources company Hewitt Associates for $4.9 billion in a cash and stock deal, which is expected to close by November. In corporate news oil and gas company Pengrowth Energy Trust (PGF_UN.TO) said it will acquire remaining 82% in junior oil and gas company Monterey Exploration (MXL.TO) for C$366 million. Precious metals explorer Tanzanian Royalty Exploration (TNX.TO) said it would privately place a three year note bearing 3% interest rate that is convertible into 230,362 common shares for C$1 million. Kingsway Linked Return of Capital Trust (KSP_UN.TO) said it got an increased takeover offer from KFS Capital LLC, a subsidiary of Kingsway Financial Services Inc. Holders of units who accept the offer will now receive $20.00 per unit in cash, an increase of $2.50 or 14.3% per unit from the previous cash offer price of $17.50 in cash per unit. Oil and gas explorer Africa Oil Corp. (AOI.V) said it would increase the size of non-brokered private placement from 20 million common share to 25 million common shares for gross proceeds of up to C$25 million. Natural resources explorer New High Ridge Resources (NHR.V) said is proceeding with a proposed new business venture involving the development, processing and marketing of nutraceutical and other food ingredients. For comments and feedback: contact editorial@rttnews.com

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