CANADA STOCKS-TSX could move higher on Fed, oil

Thu Apr 30, 2009 8:18am EDT
 
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TORONTO, April 30 (Reuters) - Toronto's main stock market index could open higher on Thursday as investors feed off positive comments from the U.S. Federal Reserve, while Canadian energy companies are boosted by firm oil prices.

Investors will also watch Chrysler LLC as it rushed to clinch a last-minute deal on Thursday to stave off collapse ahead of a midnight deadline for the third-largest U.S. automaker.

As of Thursday morning, Chrysler still had not gained the bondholder support it needs to move forward with a restructuring and avoid the first-ever bankruptcy filing by a Big Three U.S. automaker. [nLU940906]

The Fed instilled a positive tone to the market on Wednesday saying the economic outlook had improved modestly since its last meeting in March. [ID:nN29429278]

Toronto's main stock index rose 0.7 percent on Wednesday as higher oil prices and upbeat corporate earnings sparked renewed interest in equities after two straight declining sessions. [nN29448000]

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

CENTERRA POSTS Q1 LOSS; KEEPS 2009 PRODUCTION VIEW

Centerra Gold CG.TO posted a first-quarter loss, hurt by reduced gold production and sales volumes and higher operating expenses. [nBNG474295]

GOLD FALLS AS DOLLAR LIFTS OFF LOWS, STOCKS RISE   Continued...