CANADA STOCKS-TSX set to rise on gold, oil; eye on Fed

TORONTO, Nov 4 (Reuters) - Toronto's main stock index could
extend gains from the previous session as gold hit a record
high above $1,095 per ounce on Wednesday.

A firmer oil price is also likely to add support to the
main index ahead of a key interest rate decision by the U.S.
Federal Reserve.

While interest rates are expected to be left steady, the
greater interest is in the Federal Open Market Committee
statement, which is expected to reaffirm current supportive
policies for the economy, even as signs of recovery grow. For
more see [ID:nFEDAHEAD].

Market players also have a slew of corporate results to
wade through on Wednesday, including big names such as two of
the country's biggest pipeline companies -- TransCanada
(TRP.TO: Quote, Profile, Research) and Enbridge (ENB.TO: Quote, Profile, Research).

The S&P/TSX composite index .GSPTSE closed up 147.55
points, or 1.36 percent, at 11,025.90 on Tuesday, battling back
from a drop of more than 1 percent earlier in the session.

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

COMMODITY PRICES: GOLD, OIL RISE

Gold hit record highs as U.S. dollar weakness added to
momentum lent to the market by India's purchase of 200 tonnes
of gold from the IMF. Gold is now poised to target the
psychological $1,100 an ounce level, dealers said. [GOL/]

Oil rose above $80 a barrel, extending the previous
session's near 2 percent gain. [O/R]

AGRIUM

Fertilizer maker and agricultural products retailer Agrium
Inc (AGU.TO: Quote, Profile, Research) (AGU.N: Quote, Profile, Research) reported a 93 percent slump in its
third-quarter profit, largely due to lower prices and margins
on crop nutrient sales. [ID:nN04540874]

* See also: Terra rejects sweetened bid from rival CF
[ID:nN04543202]

ENBRIDGE

Enbridge, Canada's No. 2 pipeline company, reported a
better-than expected third-quarter profit and raised its
full-year adjusted earnings outlook on strength in its liquid
pipelines and natural gas businesses. [ID:nN03514071]

COMPANY RESULTS IN BRIEF

* TransCanada Q3 results [ID:nWNAB9938]

* Torstar (TSb.TO: Quote, Profile, Research) reports lower profit from continuing
operations [ID:nWNAB9712]

* Iamgold (IMG.TO: Quote, Profile, Research) posts Q3 results, increases output
outlook [ID:nWNAB9864]

* WestJet (WJA.TO: Quote, Profile, Research) reports Q3 results, sees rise in
capacity in Q4 [ID:nWNAB9921]

* Home Capital (HCG.TO: Quote, Profile, Research) profit tops estimate, ups dividend
[ID:nBNG176266]

MAGNA INTERNATIONAL

General Motors [GM.UL] reversed course late on Tuesday on
its long-expected sale of European unit Opel to a group led by
Canadian auto supplier Magna International (MGa.TO: Quote, Profile, Research). GM said it
will present a restructuring plan, expected to include plant
shutdowns and job losses, to European governments soon.
[ID:nN03259172]

OPTI CANADA

Oil sands developer Opti Canada Inc (OPC.TO: Quote, Profile, Research) said it may
seek a buyer as part of a review of strategic alternatives with
the pace of takeovers in the country's energy sector picking
up. The move comes as Opti tries to deal with its flagging
share value as the price of oil strengthens but its main
project struggles to produce reliably in its early months.
[ID:nN03517095]

RESEARCH ROUNDUP

The following is a selection of research actions on
Canadian companies reported by Reuters on Wednesday. For more,
please double click [RCH/CA]:

* BMO raises Opti Canada to "outperform" from "market
perform"

* Canaccord Adams cuts price target on Research in Motion
(RIM.TO: Quote, Profile, Research)

* RBC raises Catalyst Paper (CTL.TO: Quote, Profile, Research) to "sector perform"
from "underperform"
(Reporting by Ka Yan Ng; Editing by James Dalgleish)