CANADA STOCKS-TSX may open higher on resources, results eyed

TORONTO, Feb 11 (BestGrowthStock) – Toronto’s main stock market
index may open higher on Thursday on firm commodity prices and
optimism over a financial rescue for Greece, but disappointing
Canadian corporate results could curb enthusiasm.

Investors will also take time to digest a slew of corporate
results from the country’s top insurers and retailers including
Shoppers Drug Mart (SC.TO: ) and Manulife Financial (MFC.TO: ) for
direction.

Toronto’s main stock market index edged higher on Wednesday
as financials were helped by hopes that a resolution to
Greece’s debt woes was near, but resource stocks were pressured
by volatile commodity prices.[ID:nN10190336]

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

AID TO GREECE

European leaders have reached a deal to provide aid to
Greece, EU president Herman Van Rompuy said on Thursday, in an
unprecedented move to stave off a broader crisis in the
16-nation bloc that shares the euro.[ID:nLDE61A0W2]

SUN LIFE FINANCIAL

Sun Life Financial (SLF.TO: ) said on Thursday quarterly
profit more than doubled, aided by stock market gains and
improved sales, but the results came in below market
expectations.[ID:SGE61A0HB]

ENCANA CORP

EnCana Corp (ECA.TO: ), Canada’s largest natural gas
producer, posted a 41 percent fall in fourth-quarter net profit
on lower gas prices. [ID:nN10155014]

CANADIAN TIRE

Canadian Tire Corp (CTC.TO: ), the country’s biggest auto
parts and household goods retailer, said on Thursday its
quarterly earnings fell more than 5 percent hurt by weak
consumer confidence and an unseasonably warm start to the
winter.[ID:nN11231073]

CENOVUS ENERGY

Cenovus Energy Inc (CVE.TO: ), the oil sands focused company
spun off from EnCana Corp (ECA.TO: ), reported a quarterly profit
mainly on production ramp-up at two key projects in northeast
Alberta, and reiterated its 2010 outlook.[ID:nSGE61A0G3]

OIL RISES

Oil climbed to around $75 a barrel on Thursday, buoyed by
hopes of a rescue plan for the beleaguered Greek economy and by
upbeat predictions of oil demand growth by two major
forecasters.[ID:nSGE61A0AB]

STRONG GOLD

Gold rose towards $1,080 an ounce in Europe on Thursday as
hopes other European countries would bail out debt-laden Greece
boosted the euro versus the dollar, lifting gold’s appeal as an
alternative to the U.S. unit.[ID:nLDE61A19T]

MOSAIC CO

Fertilizer producer Mosaic Co (MOS.N: ) said it granted a
unit of Vale SA (VALE5.SA: ) an option to buy its 20 percent
stake in Fertilizantes Fosfatados SA (Fosfertil) and Fertifos
Administracao e Participacao SA in Brazil.[ID:nSGE61A0G2]

SIERRA WIRELESS

Mobile modem maker Sierra Wireless Inc (SW.TO: ) (SWIR.O: )
reported a quarterly net loss on Wednesday, hurt by higher
marketing expenses and research and development
costs.[ID:nN10167937]

RESEARCH ROUNDUP

Following is a summary of research actions on Canadian
companies reported by Reuters on Thursday. [RCH/CA]

* Scotia cuts Teck Resources (TCKb.TO: ) price target to C$50
from C$52.50

* CI Capital raises CAE Inc (CAE.TO: ) to Sector Perform from
Underperform

* RBC raises Talisman Energy (TLM.TO: ) price target to C$24
from C$23; Rating Outperform

Stock Market Advice

($1=$1.06 Canadian)
(Reporting by Scott Anderson)

CANADA STOCKS-TSX may open higher on resources, results eyed