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 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:


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


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...