North American stocks are likely to open flat Tuesday amid some profit-taking and a rise in oil prices. In Canada, traders are looking ahead to the latest interest rate news.

The Bank of Canada is widely expected to leave interest rates alone when it makes a scheduled announcement at 9:00 ET.

There are no major economic releases in Canada or the United States today.

In early morning trading, oil prices rose 57¢ to US$59.49 a barrel. On Monday, oil ended down 71¢ at US$58.92 a barrel.

In today’s business news, TD Banknorth Inc., now part of the Toronto-based TD Bank group, said it is buying Hudson United Bancorp, a U.S. regional bank, for US$1.9 billion in cash and shares.

On Monday, North American markets finished higher as investors reacted to downward pressure on the price of oil and the announcement of corporate mergers and acquisitions.

The S&P/TSX composite index was up 39.86, or 0.39%, to close 10,217.72.

The junior S&P/TSX Venture composite index finished down 4.11, or 0.24%, to end 1,727.88.

In New York, the blue chip Dow Jones industrial average gained 70.58, or 0.68%, to close 10,519.72; the tech heavy Nasdaq composite index advanced 22.55, or 1.07%, to close 2,135.43; and the broad based S&P 500 lifted 7.58, or 0.63%, to 1,219.44.

Unocal Corp., which is the target of a takeover bid by CNOOC, is selling its Canadian subsidiary, Northrock Resources Ltd., to Pogo Producing Co. for US$1.8 billion. Unocal rose 23¢ to close at US$65.97, while Pogo Producing eased 1.2%, or 68¢, to US$54.10.

General Electric Co. and Caisse de Depot et Placement du Quebec are buying U.S. natural gas pipeline system Southern Star from American International Group Inc. for US$829 million, including debt.

GE shares ended up 0.3% while AIG shares climbed 0.8% in New York markets.