CANADA STOCKS-TSX could open lower on weak results, RIM outlook

Wed Feb 11, 2009 8:46am EST
 
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TORONTO Feb 11 (Reuters) - Canada's main stock market index looked set to open lower on Wednesday following a disappointing outlook from Research In Motion RIM.TO and weak results from fertilizer producer Agrium Inc AGU.TO and BCE Inc BCE.TO.

But firm oil and gold prices could offset the losses.

Toronto's main stock index fell 2.5 percent on Tuesday, breaking a five-day streak of gains, as energy and financial issues sank on skepticism about whether the U.S. bad-debt plan, will be sufficient to bring health back to that country's financial system.

Below is some of the news that may affect the market:

RIM SEES 4TH-QTR EARNINGS AT LOW END OF FORECAST

Research In Motion RIM.TO said its fourth-quarter earnings and gross margin would be at the low end of its previous forecast range, even as subscriber additions topped expectations, sending shares down 8 percent. [ID:nN11352604]

AGRIUM FOURTH-QUARTER PROFIT FALLS 28 PERCENT

Fertilizer maker and agricultural products retailer Agrium Inc AGU.TO AGU.N said on Wednesday that fourth-quarter profit fell 28 percent due to inventory write-downs and lower sales volumes. [ID:nN11346773]

BCE REPORTS LOSS, FORECASTS PROFIT GAIN IN 2009   Continued...