TORONTO, Feb 10 (Reuters) - Toronto's main stock index is
set to advance at the open on Wednesday on firming expectations
of a Greek bailout and rising gold and oil prices.
Euro zone countries were holding intensive talks on
Wednesday about a possible financial rescue for debt-stricken
Greece. As a result, global stocks markets were higher and U.S.
stock index futures were following suit. [ID:nLDE6190UP]
[MKTS/GLOB]
The Toronto Stock Exchange's S&P/TSX composite index
.GSPTSE ended Tuesday's session 1.43 percent higher at
11,274.24 on strengthening sentiment towards a plan for
Greece.
Here is some of the news that may affect the market.
COMMODITY PRICES
Gold rose above $1,080 an ounce, while oil bounced above
$74 a barrel, as the euro rebounded versus the U.S. dollar on
prospects of an imminent rescue package for Greece. [GOL/]
[O/R]
TALISMAN
Talisman Energy (TLM.TO), Canada's No. 4 independent oil
explorer, reported a quarterly loss that lagged expectations,
mainly on weaker natural gas prices. [ID:nN09104156]
HOME CAPITAL
Mortgage lender Home Capital Group's (HCG.TO)
fourth-quarter profit handily beat estimates, helped by a 40
percent rise in mortgage originations, and the company said it
expects to generate "robust earnings" in 2010. [ID:nSGE6190HO]
EARNINGS RECAP
* Air Canada (ACa.TO) quarterly loss narrows
[ID:nN08115886]
* Arc Energy Trust (AET_u.TO) Q4 results, gives 2010 view
[ID:nWNAB5252]
* Gildan Activewear (GIL.TO) Q1 profit tops estimates
[ID:nSGE6180L2]
BIOVAIL
Alexza Pharmaceuticals Inc (ALXA.O) said it signed a
collaboration deal with a unit of Biovail Corp (BVF.TO)(BVF.N)
to develop and commercialize AZ-004, its inhaled treatment for
agitation, in the United States and Canada.
MDS
MDS Inc (MDS.TO) said that Ricerca Biosciences would buy
its business that provides clinical trial services to biotech
and pharmaceutical companies for $45 million and certain
minority equity interests. [ID:nN10150405]
RESEARCH ROUNDUP: RIOCAN REIT
Following is a summary of research actions on other
Canadian companies reported by Reuters on Wednesday. [RCH/CA]
* Mixed reaction from analysts for RioCan REIT (REI_u.TO),
Canada's biggest real estate investment trust, after it
reported lower than expected results on Tuesday, and said it
aimed to spend at least C$500 million more this year on
acquisitions. [ID:nN09103382]
Raymond James raised RioCan REIT to "outperform" from
"market perform", while Macquarie raised its price target to
C$20 from C$18.50. RBC cut its price target on RioCan to
C$18.50 from C$19.75.
* Raymond James raises Canadian National Railway (CNR.TO)
to "outperform" from "market perform"
* RBC cuts Suncor Energy (SU.TO) to "sector perform" from
"market perform"
* Haywood raises Teck Resources (TCKb.TO) to "sector
outperform" from "sector perform"
($1=$1.07 Canadian)
(Reporting by Ka Yan Ng, Editing by Chizu Nomiyama)
