A.M. market numbers for February 9, 2010

| North American markets | International markets | Bonds | Currency | Commodities |

The Toronto stock market was up sharply in early trading Tuesday as investors hoped that a meeting of European Union leaders later this week will address the growing problem of huge debt levels racked up by several European governments.

The S&P/TSX composite index rose 118.1 points to 11,233.4 after dropping 108 points Monday as investors worried the sovereign debt issue could derail a global economic recovery.

The Canadian dollar was up 0.49 of a cent to 93.56 cents US.

Stock markets have lost ground recently over fear spreading about unsustainable debt loads taken on by some European countries, particularly Spain, Portugal and Greece. Markets doubt that governments have the political will necessary to impose austerity measures to get large deficits under control.

And although the European Investment Bank said Tuesday it would not be able, according to its own rules, to offer Greece or any other country a bailout, investors are betting that a meeting on Thursday of EU heads of state will address the market’s worry about sovereign debt.

“This meeting of EU leaders is set to discuss the economic road map of the eurozone for the next 10 years; however, it is difficult to see how the problems of Greece and other vulnerable indebted nations won’t overshadow the summit,” said Michael Hewson, an analyst at CMC Markets.

He said a bailout would be very problematic, since that would urge other heavily-indebted countries to seek the same treatment.

Hopes for a bailout or some form of aid also grew on news that European Central Bank President Jean-Claude Trichet was returning home from a summit in Sydney a day earlier than planned.

Meanwhile, the base metals sector led TSX gainers, up almost three per cent as March copper added three cents to US$2.95 a pound and investors also took in major earnings reports from the commodity sector.

(The Canadian Press)

North American markets

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	Open	Change	YTD
Dow Jones	9,908.39	-103.84 or -1.04%	-4.98%
S&P 500	1,056.74	-9.45 or -0.89%	-5.23%
NASDAQ	2,126.05	-15.07 or -0.70%	-6.31%
TSX Composite	11,115.30	-107.82 or -0.96%	-5.37%

International markets

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	Open	Change	YTD
Nikkei	9,932.90	-18.92 or -0.19%	-5.82
Hang Seng	19,790.28	+239.39 or +1.22%	-9.52
SENSEX	16,042.18	+106.57 or +0.67%	-8.15
FTSE 100	5,129.12	+36.79 or +0.72%	-5.24
CAC 40	3,627.26	+19.99 or +0.55%	-7.85
DAX	5,522.17	+37.32 or +0.68%	-7.31

Bonds

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Bonds	$Current	$Previous	%Yield
Cdn. 10-year bond	103.18	103.17	3.35
Cdn. 30-year bond	116.70	116.67	3.99
U.S. 10-year bond	98.19	98.34	3.59
U.S. 30-year bond	97.55	97.80	4.53

Currency

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BoC Close	Today	Previous
Canadian $	0.9333	0.9307
US $	1.0715	1.0745

Euro Spot Rate	Today	Previous
Canadian $	0.6800	0.6811
Euro	1.4707	1.4682

Commodities

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Gold	AM	PM
London Gold Fix ($US)	$1,068.00	$1,064.00

Oil	Open	Change
WTI Crude Future (US)	$72.79	+$0.90 or +1.25%

(02/9/10)