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: Quote) and BCE Inc (BCE.TO: Quote).

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: Quote) (AGU.N: Quote) 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...