RTTNews - Bay Street stocks will look for a seventh straight gain on Tuesday morning as the resource sectors could see further strength with commodities rising again. Stocks are higher overseas and U.S. futures are pointing into positive territory.
Investors will also mull over the Bank of Canada's decision to leave interest rates at 0.25%. The move was widely expected by economists.
Crude oil is up 99 cents to $64.97 in electronic trading after topping $65 earlier in the morning. Gold and copper are also showing modest increases.
In corporate news, Canadian National Railway (CNR.TO) reported second-quarter net income of C$361 million or C$0.76 per share, compared to net income of C$436 million or C$0.90 per share in the comparable quarter last year. Before the announcement, the stock closed the session up 1.24% for the day.
Research In Motion Limited or RIM (RIM.TO) said that it has been prevented from bidding for the Canadian telecom equipment maker Nortel Networks Corp.'s Wireless Business that has been placed into bankruptcy auction scheduled to occur on July 24.
TD Bank Financial Group (TD: News ,TD.TO: News ) announced that it expects TD Ameritrade's third quarter earnings to translate into a contribution of C$68 million to third quarter net income for its Wealth Management segment.
Denison Mines Corp. (DML.TO) said it has decided not to match the acquisition proposal that Northern Continental Resources received from Hathor Exploration.
On Monday, the S&P/TSX Composite Index rallied 171.29 or 1.65% to finish at 10,540.71. This is the best close since June 12.
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