With no major economic data due out today and the American markets closed for President’s Day, it’s expected to be a lackluster day on the Canadian markets.

International energy and cellphone stories are topping the day’s business news. British Gas Group has announced that it will put US$345.6-million into exploring the Western Canada Sedimentary Basin, buying El Paso Oil and Gas Canada from Houston-based El Paso Corp. The cash deal covers 2,800 square kilometres in Alberta and B.C.

The bidding war between Cingular, the second-largest U.S. cellphone group, and its British rival Vodafone Group Plc for U.S. target AT&T Wireless is expected to garner interest among Canadian wireless companies.

In Europe at midday, London’s FTSE 100 index is off 14.6 points to 4,397.4. Frankfurt’s DAX is down 0.1% and Paris’s CAC-40 has edged up 0.3%.

In Asia markets were mixed. Tokyo stocks ended mixed in a directionless session ahead of the release of Japan’s gross domestic product data for the October-December quarter, which is due on Wednesday. The Nikkei average closed down 8.97 points at 10,548.72 on slack volume. In Hong Kong the Hang Seng rose 91.73 to 13831.53.

On Friday, the Toronto S&P/TSX composite index closed down 30.58 points, or 0.35 percent, at 8,694.46. In New York’s the Dow Jones industrial average fell 66.22 points or 0.62% to 10627.85. The Nasdaq dropped 20.05 points of 0.97% to 2053.56; the S&P 500 index was off 6.30 or 0.55% to 1145.81. Volume was light as many traders bailed out early for their three-day weekend.