CANADA STOCKS-TSX may open lower on resources, banks eyed

TORONTO, March 9 (BestGrowthStock) – Canada’s main stock market
index may open lower on Tuesday as weak oil and gold prices
constrain the resource-heavy index.

But stronger-than-expected results from another of the
country’s big banks could shine the spotlight on the country’s
heavily weighted financial sector.

Canada’s main stock market index slipped on Monday after
touching its highest point in eight weeks, as weaker bullion
prices weighed on gold producers.[ID:nN08196024]

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


Oil prices slipped back from eight-week highs on Tuesday on
expectations of a rise in U.S. crude inventories and a slightly
stronger dollar.[ID:nLDE6280F1]


Gold prices eased in Europe on Tuesday as a firmer dollar
curbed buying, but the metal found good support from bargain
hunting around session lows after its 1 percent fall in the
previous session.[ID:nLDE6280WS]


Bank of Nova Scotia (BNS.TO: ) said profit rose 17 percent in
the first quarter as domestic banking earnings surged 28
percent on stronger mortgage sales and deposits, offsetting a
rise in loan loss provisions. [ID:N08126522]


The price of gold is likely to fall 20 percent or more
before the end of 2011, said Don Drummond, chief economist of
Toronto-Dominion Bank on Monday.[ID:nN09186131]


Texas Instruments (TXN.N: ) raised the low end of its
quarterly earnings and revenue forecast, and said it was
struggling to fill orders in time as demand for chips rose
faster than it could make them.[ID:nN08195713]


WestJet Airlines Ltd (WJA.TO: ) launched its long-awaited
loyalty program on Monday, hoping to win and keep more
customers at a time when airline travel is starting to recover
after a bruising slowdown.[ID:nN08195939]


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

* UBS cuts Bombardier Inc (BBDb.TO: ) to Neutral from Buy

* Morgan Stanley starts Canadian Pacific Railway (CP.N: )
with equal-weight rating; price target of $57

* Raymond James cuts Quadra Mining Ltd (QUA.TO: ) target
price to C$35 from C$38; Rating Strong Buy.

Investing Basics

($1=$1.03 Canadian)
(Reporting by Scott Anderson, Editing by Chizu Nomiyama)

CANADA STOCKS-TSX may open lower on resources, banks eyed