TSX tote board

Oil prices fell on Tuesday despite Saudi Arabia and Russia agreeing to freeze oil output

at January levels if  other producers follow suit.

The announcement came after ministers from the two nations met in Doha

along with their counterparts from Venezuela and Qatar.

                                                   

Canada’s main stock index opened higher on Wednesday after oil prices rose even as Iran

signalled a tough line to efforts led by Russia and Saudi Arabia to broker a deal

to freeze production levels and ease a global glut.

Bombardier Inc (BBDb.TO) said it received the first order in 16 months for its CSeries aircraft, sending its shares up as much as 30 percent and overshadowing news of the planemaker's lower-than-expected quarterly results and plan to cut 7,000 jobs.

The company said on Wednesday that it signed a letter of intent to sell Air Canada (AC.TO) 45 CSeries jets, with an option for 30 more. The order, worth as much as $3.8 billion based on the list price, is the first for the CSeries since September 2014.

The Quebec government, which gave Bombardier a $1 billion lifeline last year, said it would drop a lawsuit against Air Canada. In return, the airline agreed to conduct maintenance on CSeries jets in the province.

The Canadian government said it was still in talks with Bombardier on its request for federal aid. The country's transport minister said Ottawa had put no pressure on Air Canada to buy jets from the planemaker.

Bombardier Chief Executive Officer Alain Bellemare said the company still wanted federal assistance for the CSeries, which has been plagued by delays and cost overruns.

"We are hoping the federal government would come very close to what Quebec did," Bellemare said on a conference call. "Quebec came with a very good structure where they have equity ownership, and we've been benefiting significantly from that."

Shares of Bombardier, which also benefited from news of a planned reverse stock split, were up 19 percent at C$1.07 in midday trading after rising as high as C$1.17.

"Despite the non-firm agreement, we believe this order could represent a strong commitment for the long-term viability of the C Series," Desjardins analyst Benoit Poirier said in a note to clients.

On a call with analysts, Bellemare said Air Canada's order was a strong endorsement for the line of jets, which faces fierce competition from Boeing Co's (BA.N) 737 and Airbus' Group's (AIR.PA) A320 series.

Bombardier now has 678 total orders and commitments for the CSeries, including 243 firm orders.

JOB CUTS

Bombardier advanced 20 per cent to $1.08.

The company also said it would slash its workforce by about 7,000 over the next two years,

with new hiring focused on the CSeries commercial jet program.

they were just saying they were going to cut jobs over the next 2 years

Air Canada  pressured by the government to keep the $$$ home not sending it to Boeing

In today's price breakouts list, there are 27 positive breakouts (stocks with positive price momentum)

Dollar rise to 73 cents US.

Pressure is now on Central bank Interest rates !