CANADA STOCKS-TSX may open higher on Bank of Montreal results

Wed May 26, 2010 8:44am EDT
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

May 26 (Reuters) - Toronto's main stock index is expected to open higher on Wednesday after Bank of Montreal, Canada's fourth-largest bank, said profit doubled and as commodity prices rose.

Wall Street is also poised for a higher open, a day after markets clawed back from a steep sell-off and as U.S. Treasury Secretary Timothy Geithner flew to Europe to press for united action to tackle the region's deepening debt crisis. [.N]

European equities bounced back from nine-month lows in the previous session, with financials and miners among the top gainers.

Asian stocks rallied from nine-month lows.

Here is some news that could affect stock prices:

BANK OF MONTREAL PROFIT DOUBLES

Bank of Montreal (BMO.TO: Quote) said on Wednesday profit doubled in the second quarter as wealth management and capital markets surged and the bank set aside less money to cover bad loans. [ID:nN25146871]

OIL CLIMBS

Oil rose by almost 3 percent on Wednesday to climb back above $70 a barrel after a U.S. industry report showed a steep drop in gasoline stockpiles in the world's largest energy consumer. [O/R]   Continued...