CANADA STOCKS-TSX may open higher, banks in spotlight

Tue Nov 24, 2009 8:23am EST
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TORONTO Nov 24 (Reuters) - Toronto's main stock market index could open higher on Tuesday as strong results from Bank of Montreal BMO.TO are expected to shine the spotlight on the Canadian financial sector.

Meanwhile, firm gold prices could also help prop up the resource-heavy index.

Toronto's main stock index on Monday pared early gains but ended higher, touching its highest level in nearly 14 months as an early rally in oil prices powered energy stocks, while financials gained ground ahead of a flood of bank earnings reports. [nN23272563]

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


Bank of Montreal BMO.TO said on Tuesday that quarterly profit rose 16 percent as it set aside less money for bad loans. [N23263602]


Citigroup Inc C.N said on Tuesday that it would sell its Diners Club North America credit card business to Canada's BMO Financial Group, as part of its strategy to shed non-core or unwanted assets. [nN24290954]

GOLD STEADY   Continued...