CANADA STOCKS-TSX could open higher as Fed, results eyed

Wed Apr 29, 2009 8:28am EDT
 
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TORONTO, April 29 (Reuters) - Canada's main stock market index could open higher on Wednesday, recovering from two days of losses, as investors digest corporate earnings reports and await the next interest rate decision from the U.S. Federal Reserve.

Investors will be studying results from several Canadian companies including Rogers Communications RCIb.TO and Talisman Energy TLM.TO.

But worries over the impact of a global outbreak of swine flu could weigh on the market after the U.S. government confirmed a 23-month old in Texas has died from the new H1N1 swine flu, the first U.S. death from the virus. [nN29385038]

The U.S. Federal Reserve holds its rate-setting meeting for a second day. Economists expect the Fed to hold its target range for its benchmark funds rate steady near zero -- as it has since December -- and will be looking for any comments that other methods of stimulating the economy are taking hold.

Toronto's main stock index finished lower for a second straight session on Tuesday, falling 46.77 points to 9,348.03, as worries about the dangers of a possible flu pandemic pulled down commodities prices. [nN28344953]

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

ROGERS PROFIT DROPS, BUT WIRELESS STAYS STRONG

Canadian media and telecom group Rogers Communications posted a drop in first-quarter profit on Wednesday as strong performances from its wireless and cable divisions were offset by a drop in advertising at its media division. [nN29251172]

TALISMAN ENERGY Q1 PROFIT FALLS 2 PCT   Continued...