TORONTO, Nov 9 (Reuters) - A record gold price and rising oil prices may guide Toronto’s resource-laden main stock index higher at the open on Monday to extend gains for a fifth straight session.
Risk appetite was also well-supported from a pledge by the Group of 20 to keep economic stimulus in place until a recovery was assured. Finance ministers and central bankers of the G20 promised on Saturday to keep the aid flowing until an economic recovery was sustainable. [ID:nLQ516726]
The S&P/TSX composite index .GSPTSE finished Friday’s session up 69.72 points, or 0.62 percent, at 11,250.42, with eight of its 10 main groups higher. The index was up 3.1 percent on the week.
Here is some of the news that may affect the market.
COMMODITY PRICES: RECORD GOLD
Gold hit a record high above $1,110 an ounce as the U.S. dollar index .DXY slid on expectations U.S. interest rates will remain low, boosting interest in the metal as an alternative asset. Spot gold XAU= reached a peak of $1,109.15 an ounce. [GOL/]
* See also: Oil jumps towards $79 on hurricane, dlr [O/R]
Angiotech Pharmaceuticals Inc ANP.TO reported a much smaller third-quarter loss than a year earlier, when the medical device company booked a huge writedown of goodwill. [ID:nN09249653]
COMPANY RESULTS IN BRIEF
* CGI Group (GIBa.TO) Q4 profit beats estimates [ID:nBNG441833]
* Ensign Energy (ESI.TO) Q3 profit sinks 77 pct [ID:nBNG183110]
* Quadra Mining QUA.TO 3rd-qtr net income falls [ID:nN09197148]
Toymaker Mega Brands MB.TO said that it would book a $72 million recovery when it reports its quarterly results after it settled outstanding legal action related to a 2006 suit. The action related to a suit concerning Rose Art, a toy company, which it purchased from the Rosen family in 2005. [ID:N0921200]
Following is a summary of research actions on Canadian companies reported by Reuters on Monday. [RCH/CA]
* Genuity, RBC, cut Telus (T.TO) price target
* Raymond James raises SNC-Lavalin (SNC.TO) to “outperform” from “market perform”; Genuity, Versant, RBC ups price target
BAY STREET: TMX FACES LOSS OF MORE MARKET SHARE
Upstart rivals are set to take a still bigger bite out of TMX Group Inc’s (X.TO) share of the Canadian stock trading market in coming months as competition heats up over pricing, product and technology. [ID:nN06209604]
(Reporting by Ka Yan Ng)