CANADA STOCKS-TSX poised to open higher after big tumble

Tue Dec 2, 2008 8:55am EST
 
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TORONTO Dec 2 (Reuters) - The Toronto Stock Exchange's main index could open higher on Tuesday after a 9.3 percent slide in the previous session and as oil and gold prices trimmed earlier losses.

U.S. stock futures pointed higher on expectations investors would search for beaten-down shares and on hopes for an auto industry bailout. [ID:nN02545222]

On Monday, the S&P/TSX composite index .GSPTSE fell 864.41 points, or 9.32 percent, to 8406.21, its biggest percent decline since October 1987, on a deluge of grim U.S. economic news.

Here is some of the news that may affect the market.

TED ROGERS DIES

Ted Rogers, who transformed a single FM radio station into a North American broadcasting, publishing and wireless telecommunications conglomerate, has died, Rogers Communications Inc RCIb.TO said on Tuesday. He was 75. [ID:nN02547016]

MANULIFE FINANCIAL MFC.TO

Manulife Financial is bolstering its capital position by issuing C$2.125 billion in common equity and the insurer says it sees 2008 net income to be about C$900 million. [ID:nWNAB8688]

COALITION GOVERNMENT   Continued...