CANADA STOCKS-TSX to follow global markets higher, G20 eyed

Thu Apr 2, 2009 8:21am EDT
 
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TORONTO, April 2 (Reuters) - Toronto's main stock market index could open higher on Thursday, following the lead of the global markets, as investors cheer initiatives taken by the G20 leaders to fight the economic crisis. [nL2940529]

The influential energy sector was also seen boosting the market as the price for U.S. crude oil was up almost 6 percent in reaction to the summit meeting. [nUSN000019]

The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE rose for a second straight session on Wednesday, up 2.5 percent, to end at 8,941.82 boosted by a rally in the heavily weighted financial issues, as U.S. data spurred expectations for an increase in financial activity.

Here is some news that could affect the market:

BOMBARDIER REPORTS HIGHER Q4 PROFIT; TO CUT 10 PCT JOBS

Bombardier Inc (BBDb.TO: Quote) reported a 42 percent rise in quarterly profit, and said it would cut about 3,000 jobs as it was downsizing its business and regional jets production rates. [nN31440969]

GOLD EASES AS STOCKS FIRM; TRADERS EYE G20, ECB

Gold dipped on Thursday as a recovery in equities diverted interest from the precious metal, with traders awaiting fresh direction from the G20 leaders' summit in London. [nL2201177]

US SENATOR, LUMBER GROUP URGE TAX ON CANADA LUMBER   Continued...