CANADA STOCKS-TSX may tick up after market tumble

Tue Mar 3, 2009 8:50am EST
 
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TORONTO, March 3 (Reuters) - Toronto's main stock index could open higher on Tuesday, after logging its biggest one-day drop in three months in the previous session and as the price of oil and base metals rose.

But the market could track other equity markets lower, with European shares down a day after most markets were battered amid worries about the global financial system. [MKTS/GLOB]

On Monday, the S&P/TSX composite index .GSPTSE closed the session down 435.51 points, or 5.36 percent, at 7,687.51, rattled by weak oil and domestic GDP data, and as investors fretted over the health of the U.S. banking sector, sparked by a huge quarterly loss from American International Group (AIG.N: Quote).

Here is some news that could affect the market:

BANK OF NOVA SCOTIA (BNS.TO: Quote)

Bank of Nova Scotia, Canada's third-largest lender, reported weaker quarterly earnings per share on Tuesday as provisions for bad loans more than doubled and its payout of preferred share dividends rose. [ID:nN03452969]

BANK OF MONTREAL (BMO.TO: Quote)

Bank of Montreal posted a 12 percent fall in net income for the first quarter, hurt by capital markets environment charges and an 86 percent jump in provision for credit losses. [ID:nBNG226686]

BANK OF CANADA RATE ANNOUNCEMENT   Continued...