North American markets appear set to open mixed Wednesday under pressure from weaker-than-expected revenue at Apple Computer and rising oil prices.

Apple’s quarterly profit more than quadrupled on a 57% increase in revenue. But analysts said the number of iPod portable music players sold in its fiscal fourth quarter was short of expectations. Apple shares fell sharply in after-hours trading Tuesday.

Crude-oil prices hovered near US$64 a barrel, rising 39¢ to US$63.92, in early trading Wednesday after a bullish 2006 demand outlook from the International Energy Agency.

Here at home, Ontario Premier Dalton McGuinty’s government was dealt a blow late Tuesday as Finance Minister Greg Sorbara resigned just hours after he was named in a warrant as part of an ongoing RCMP investigation.

Research In Motion Ltd.’s board of directors approved a plan to buy back 5% of the company’s shares. The company said Tuesday it will look to repurchase up to 9.5 million of its common shares on the Nasdaq market over the next 12 months. The buyback will begin Oct. 17.

There are no major economic announcements from Canada or the United States today.

Overseas, Japan’s Nikkei 225, Germany’s DAX 30 and the UK’s FTSE 100 all were lower in reaction to U.S. markets.

Toronto stocks ended essentially flat Tuesday, as a rising energy group and a blockbuster mining deal offset a poor day in the broader market.

The S&P/TSX composite index finished up 8.35 points, or 0.08%, to close 10,620.50.

The materials sector gained 1.03%, after Inco Ltd. and Falconbridge Ltd. announced a shares-cash deal valued at more than $12 billion. The proposed merger would create the world’s largest nickel producer.

Falconbridge gained $3.77, or 12.23%, to $34.59, while Inco lost 29¢, or 0.56%, to $51.61.

The junior S&P/TSX Venture composite index finished up 2.30 points, or 0.11%, to 2,120.27.

In New York, inflation fears and high energy costs offset the effect of strong corporate news from Alcoa. As well, the U.S. Federal Reserve signalled further interest rate hikes in the minutes from its last policy decision.

The Dow Jones industrial average closed up 14.41 points at 10,253.17, the S&P 500 ended down 2.46 points at 1,184.87, and the Nasdaq composite was the biggest loser, ending down 17.83 points at 2,061.09, a three-month low.

Alcoa beat forecasts with earnings of US$283 million on revenue of $6.6 billion.