CANADA STOCKS-TSX may open up with commodities on Europe hopes

Tue Apr 17, 2012 8:41am EDT
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April 17 (Reuters) - Toronto's resource heavy main stock index looked set to open higher on Tuesday, as commodities rose on improving investor sentiment about Europe's economy.

The Bank of Canada looks set to not touch interest rates but will likely keep with the more hawkish tone it has adopted in the past month and may even add an explicit mention of eventual rate increases.


* German analyst and investor sentiment rose unexpectedly in April, a survey showed, boosting hopes that Europe's biggest economy is recovering from a weak spell.

* Goldman Sachs Group Inc's first-quarter earnings fell from a year earlier but were better than many analysts had anticipated thanks to aggressive cost-cutting and better-than-expected investment banking and trading revenues.

* Rio Tinto reported worse-than-expected falls in iron ore, copper and coal production in the first quarter after it was hit by bad weather, knocking the global miner's shares lower on Tuesday.

* Luxury jeweler and watchmaker Harry Winston Diamond Corp said production at its Diavik mine in Canada's Northwest Territories was up about 19 percent in the first quarter on improved grades.

* Research In Motion : The BlackBerry maker is considering hiring a financial adviser to weigh its strategic options, Bloomberg News said on Monday, citing three sources with knowledge of the matter.   Continued...