TSX pokes ahead early on

Toronto's main stock index experienced a slightly lower open on Wednesday, as weak economic data from Europe and China stoked fears about global growth.

The S&P TSX Composite Index added 9.01 points soon after the opening bell to 12,632.37

The Canadian dollar faded 0.39 cents to 99.91 U.S. cents

Among Canadian stocks to watch this morning, Rogers Communications posted a 2.8% rise in its fourth-quarter operating profit, driven by growth in both its cable and wireless businesses.

Sears Canada Inc. posted a lower fourth-quarter profit as sales at its established stores fell.

Chorus Aviation's CEO said Tuesday that its bigger and more diversified fleet will help it defend its turf against WestJet Airline's planned regional airline in Canada.

ON BAYSTREET

The TSX Venture Exchange gained 4.54 points to 1,683.17, while the Nasdaq Canada index nipped ahead 0.86 points to 419.71

In all, 10 of the 14 Toronto subgroups started the day upward. Health-care issues were 1.1% more robust, while information technology advanced 0.8%, and telecoms were 0.5% to the good.

The four laggards were weighed by real-estate, pointing downward 0.4%, financials, off 0.3%, and utilities, sliding 0.2%.

ON WALLSTREET

In New York, stocks opened lower Wednesday, as investors question whether Greece's newest bailout will be effective.

The Dow Jones Industrials gave back 18.54 points to begin Wednesday's session at 12,947.20

The S&P 500 deducted 1.19 points to 1,361.02, while the tech-focused Nasdaq slipped 4.78 points to 2,943.79

Corporate earnings season continues. Dell reported results after the closing bell Tuesday, missing analysts' expectations. Shares fell almost 7% in early trading Wednesday.

Rival Hewlett-Packard will be in focus Wednesday, with quarterly results due after the market closes. Hewlett-Packard is expected to post earnings of 86 cents U.S. per share, down from $1.36 U.S. a year ago, according to Thomson Reuters.

Luxury homebuilder Toll Brothers posted a $2.79-million U.S. loss Wednesday, compared to a $3.42 million U.S. profit last year. The company's revenues declined and missed expectations.

Apple was also in focus, with shares slipping 0.2%, as the tech giant faced Chinese company Proview International in a Shanghai courtroom on allegations that it does not own rights to the iPad trademark in China.

Netflix's stock continued to lose ground after Comcast said that it is working on a new subscription video-on-demand competitor, named "Streampix." But the streaming service will only be available to those who also subscribe to Comcast cable.

Shares of Johnson & Johnson were higher in early trading. Late Tuesday, the company announced that CEO Bill Weldon will step down in April.

Chinese Internet giant Alibaba, which has been in the headlines lately for its tussles with stakeholder Yahoo, wants to take its publicly traded Web portal private.

After weeks of negotiations and market speculation, euro-zone finance ministers completed a deal early Tuesday that is expected to provide Greece with the funding it needs to avoid a default next month.

But while a crisis was temporarily averted, analysts caution that Greece will eventually need more support. Greece already passed a package of unpopular austerity reforms in order to qualify for the funds, and experts argue that these measures further stunt the nation's shrinking economy.

Greece's fate also depends on whether private sector investors agree to debt reduction agreement terms, which include a write down of 53% on the face value of Greek government bonds -- steeper than the previous 50% reduction agreed to in October.

Fitch Ratings downgraded Greece by two notches Wednesday morning, pushing the country's rating further into junk territory. The downgrade suggests that a "default is highly likely in the near term."

Economically speaking, the spotlight will turn to real estate on Wednesday, as the National Association of Realtors releases existing-home sales for January. Existing-home sales are expected to slip slightly, to 4.5 million units from 4.61.

Treasury prices for the 10-year note were flat, keeping yields at Tuesday's 2.04%.

Oil for February delivery slipped 24 cents to $106.01 U.S. a barrel.

Gold futures for April delivery fell $1.60 to $1,756.90 U.S. an ounce.