Banks, gold poised to help Toronto stocks rebound

TORONTO, March 24 (Reuters) - Toronto stocks were poised

for gains on Monday, on the back of firm financial and metal

shares as it tries to recover from steep losses last week.

But the advance may be capped by weakness in the

influential energy group.

"The financials and the golds could give the market a

little bit of lift here today," said Steve Ibel, an

institutional equities trader at Beacon Securities in Halifax,

Nova Scotia.

"But oil is trading down so that could be the one negative

point on the market today."

Ibel also saw some volatility throughout the session as the

North American markets set their own course, with some key

global markets closed for Easter Monday.

The Toronto Stock Exchange's S&P/TSX composite index

<.GSPTSE> begins the week at 12,775.64 after ending the

holiday-shortened week with a gain of 66 points. Domestic

markets were closed on Good Friday.

For all of last week, the key index lost 3.6 percent,

however, as retreating resource prices and worries over the

stability of the financial sector weighed heavily on two of the

market's key sectors.

Bank stocks could find strength on Monday in the wake of

news that JPMorgan Chase & Co <JPM.N> was in talks to

quintuple its offer to buy Bear Stearns Cos <BSC.N>.

JPMorgan could lift its offer for Bear to $10 per share

from its original $2, in a deal which would value the company

at more than $1 billion.

Gold shares could also lift the market on Monday as the

price for the precious metal stabilized around $920 an ounce.

But falling oil prices could constrict the broader gains as

the price for U.S. crude oil slipped 1.2 percent to $100.65 a

barrel as investors locked in profits and Saudi Arabia said it

planned to boost supply.

Hoping to see a Rebound on the Markets

Sorento