Bay Street In Better Mood After Holiday Break -- Canadian Commentary

(RTTNews) - Canadian stocks are poised for modest gains Tuesday morning amid speculation that China will do more to kick-start its faltering economy.

The S&P/TSX composite index lost 118.10 points to close Friday at 13,596.41, ending a topsy turvy week on a down note. Markets were closed Monday for Labour Day.

Enery stocks may drag on the main index today, as oil prices turned lower. U.S. crude oil for October was down 60 cents at $45.50 a barrel on the New York Mercantile Exchange.

In corporate news today, Canada's Concordia Healthcare Corp. (CXRX, CXR.TO) acquired U.K.-based drugmaker Amdipharm Mercury Ltd. for about $3.5 billion.

AuRico Metals Inc. (AMI.TO) announced the acquisition of Mineral Streams Inc., a private company with royalties at various mines.

Florida's TECO Energy is being acquired by Canada-based Emera Incorporated for more than $6 billion plus debt.

Husky Energy (HSE.TO) has started production from a second oil well at its South White Rose Extension Drill Centre.