CANADA STOCKS-TSX may rise on resources, optimism

Wed Feb 3, 2010 8:16am EST
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TORONTO Feb 3 (Reuters) - Toronto's main stock index may head higher on Wednesday, adding to two straight sessions of gains, as commodity prices firmed and hopes mount that the global economy will gain momentum.

The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE rose on Tuesday, up 0.8 percent at 11,408.34, as U.S. corporate results and economic data boosted optimism about the strength of the recovery.

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


Enbridge Inc (ENB.TO: Quote), Canada's No. 2 pipeline company, said its fourth-quarter profit rose, driven mainly by stronger results from its liquids pipelines business. [ID:nN02111743]


Imperial Oil (IMO.TO: Quote) fourth-quarter profit fell a worse-than-expected 19 percent as weak refining margins weighed on the bottom line, Canada's No. 2 oil producer and refiner said. [ID:nN02120074]


Gold prices rose 1 percent in Europe, while oil touched a two-week high above $78 a barrel. [GOL/] [O/R]   Continued...