CANADA STOCKS-Resources push TSX higher as Fed eyed

* TSX ends up 16.61 points at 12,681.42

* 4 of 10 main sectors higher; techs unchanged
(Adds details, quote)

By Jennifer Kwan

TORONTO, Nov 2 (BestGrowthStock) – Toronto’s main stock index edged
higher on Tuesday as commodity prices rose as the U.S. dollar
weakened on expectations the U.S. Federal Reserve is set to
inject more money into the economy.

The index’s energy group gained 0.9 percent, while its
materials sector rose 0.2 percent. Canadian Natural Resources
(CNQ.TO: ) was up 1.9 percent at C$37.86, and Teck Resources
(TCKb.TO: ) advanced 0.5 percent to C$45.77.

Talisman Energy Inc (TLM.TO: ), Canada’s No. 4 independent
oil producer, rose 3.6 percent to C$19.11 after it said its
third-quarter profit (Read more your timing to make a profit.) rose fourfold on higher natural gas prices
and rising output from its shale gas prospects in North
America. [ID:nSGE6A10EV]

As a two-day meeting of the Fed’s policymaking committee
got under way, the Thomson Reuters-Jefferies CRB index (.CRB: ),
a global commodities benchmark, rose about 1 percent, with the
prices of oil, gold and copper firming in part on a weak U.S.
dollar. [O/R] [GOL/]

“Everybody and their brother is betting that the U.S. will
launch a program to purchase half a trillion to $1 trillion of
bonds over time to devalue its currency and try and stimulate
employment and inflation,” said Barry Schwartz, vice-president
and portfolio manager at Baskin Financial Services.

The Toronto Stock Exchange’s S&P/TSX composite index
(.GSPTSE: ) finished up 16.61 points, or 0.13 percent, at
12,681.42. Four of the index’s 10 main sectors were higher. The
information technology sector was unchanged.

The blue chip S&P/TSX 60 index (.TSE60: ) closed 0.57 points
higher, or 0.08 percent, at 727.46.

The greenback fell on Tuesday after a surprise rate hike in
Australia and some positive economic news in the euro zone, but
analysts said it could rebound if the U.S. central bank
disappoints markets at the end of its policy meeting on
Wednesday. [FRX/]

Markets are generally priced for the Fed to commit to
buying at least $500 billion in bonds over five months to try
to stimulate the economy. [ID:nLDE6A11F2]

The market was also watching midterm U.S. elections with
polls suggesting Republicans will gain control of the House of
Representatives, while Democrats retain control of the Senate.
[.N] [ID:nN01165335]

Potash Corp (POT.TO: ) remained in the spotlight as the
federal government neared a decision on whether to allow BHP
Billiton’s (BHP.AX: ) $39 billion takeover bid for the world’s
top fertilizer producer to proceed. The stock was down 1.6
percent at C$146.27. [ID:nN02206060]

A decision is due by the end of Wednesday. By law, Ottawa
must decide whether the takeover would offer a net benefit to

($1=$1.01 Canadian)
(Additional reporting by Ka Yan Ng; editing by Rob Wilson)

CANADA STOCKS-Resources push TSX higher as Fed eyed