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Toronto stock market set for gain following batch of upbeat Q2 earnings

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Published on July 29th, 2010; Published on July 29th, 2010
The Canadian Press

The Toronto stock market is poised to open higher following a batch of upbeat earnings from key resource companies.

Topics :: TSX , Agnico-Eagle Mines Ltd. , Suncor Energy Inc. , Toronto , US

Suncor Energy Inc. (TSX:SU), Barrick Gold Corp. (TSX:ABX), Goldcorp Inc. (TSX:G), Agnico-Eagle Mines Ltd. (TSX:AEM) and Potash Corp. of Saskatchewan Inc. (TSX:POT) all reported big jumps in second-quarter income and revenue.

Better-than-expected earnings from companies like Motorola Inc., Southwest Airlines Co. and Avon Products Inc. also gave futures on Wall Street a boost.

Investors will be keeping an eye on the U.S. Labour Department's weekly report on unemployment today for signs of an improving jobs market.

The price of oil slipped 23 cents to US$76.76 a barrel, while gold added $2 to US$1,162.40 an ounce.

The loonie was up 0.63 cent to 96.96 cents US.

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