Global stocks were broadly higher as investors bet that Greece would be able to work out a debt-restructuring deal.
Research in Motion Ltd. shares gained 4 per cent in premarket trading on the Nasdaq after the company's co-founders and co-CEOs and appointed chief operating officer Thorsten Heins CEO. In Frankfurt, the stock gained 2.7 per cent.
Britain's FTSE 100 gained 0.7 per cent, France's CAC 40 rose 0.5 per cent, and Germany's DAX gained 0.4 per cent. Japan's Nikkei 225 was flat. Many Asian markets, including those in Shanghai, Hong Kong and Seoul, were closed for the regional lunar new year celebrations.
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U.S. stock futures were little changed. Dow futures rose 21 points to 12,675, while S&P 500 futures stood at 1,311.70.
European investors were betting that any stabilisation in the region's debt crisis will make current valuations look cheap. Borrowing rates for fiscally weak countries like Italy and Spain continued to slide, suggesting growing confidence in their financial futures.
Greece is in the process of working out a debt relief deal that is vital to avert bankruptcy in March. Greece's private creditors are being asked to swap their bonds for debt with a 50 percent lower value and much longer maturities. However, even though both sides are moving closer, a key sticking point remains the interest rates the new bonds would carry.
Gold hit a six-week high, up 7.1 percent since the end of December. Spot gold was up 1.1 per cent at $1,675.44 (U.S.) an ounce. U.S. gold futures for February delivery were up $12.30 an ounce at $1,676.30.
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Copper steadied, trading at $8,277.25 a tonne.
U.S. crude oil rose 0.9 per cent to $99.25 a barrel.
The Canadian dollar traded at 99.06 U.S. cents.
And as for RIM, here's an early look at what analysts are saying:
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"While we think this is a small step in the right direction, we are surprised RIM has decided to go with an operations-minded insider, especially since we consider the challenges tied more to strategy."
- UBS analyst Phillip Huang, who maintains his "neutral" rating and $15.50 (U.S.) price target.
"While the change in management might reinvigorate the employee base, improve execution, or even increase interest from potential acquirers, we maintain our belief the new BB 10 OS will not stem ongoing market share losses to Android and iOS."
- Canaccord Genuity analyst T. Michael Walkley, who rates the stock "hold" and has a $15 price target.