CANADA STOCKS-TSX may open higher as world stocks rise

Wed Mar 11, 2009 8:27am EDT
 
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TORONTO, March 11 (Reuters) - Toronto's key stock index could climb at the open on Wednesday, after shooting up 4 percent in the previous session, tracking global equities higher and supported by firmness in the price of gold.

World equities rose on Wednesday on bank hopes [ID:nLB647450], while U.S. stock index futures pointed to a higher open, building on the gains made in the previous session when they posted the biggest rise in four months. [ID:nLB716682]

However, the resource-laden Toronto market could be pressured by weakness in the price of oil CLc1 ahead of U.S. fuel stocks data, while base metals were mostly soft.

On Tuesday, the S&P/TSX composite index .GSPTSE closed up 313.47 points, or 4.14 percent, at 7,880.41 after Citigroup (C.N: Quote) said it was profitable during the first two months of 2009, raising hopes about the battered U.S. financial system.

Here is some news that could affect the market:

BOMBARDIER INC (BBDb.TO: Quote)

Lufthansa (LHAG.DE: Quote) said on Wednesday it ordered 30 Bombardier Inc C-series aircraft with deliveries set to start in 2014. [ID:nWEA1666]

TRANSAT AT INC TRZb.TO

Travel company Transat AT Inc reported a bigger quarterly loss and suspended its dividend as margins for North American travel packages shrank. [ID:nWNAB2718]   Continued...