Indicators were mostly positive Tuesday morning as the Toronto stock market prepared to start 2007 trading.

U.S. markets remain closed for a day of mourning in honour of former president Gerald Ford.

There are no major economic releases from Statistics Canada today.

The Canadian dollar opened at US85.93¢, up 0.12 of a cent.

Oil prices rose and key European indexes were up in early action after a three-day holiday weekend.

Light sweet crude for February delivery was up 11¢ to US$61.16 a barrel in electronic trading on the New York Mercantile Exchange by midday in Europe. The U.S. trading floor was closed.

In today’s business news, TD Banknorth Inc., a unit of TD Bank Financial Group, announced that it completed its acquisition of Interchange Financial Services Corp. on Jan. 1, 2007. The deal significantly increases the bank’s presence in northern New Jersey.

Most Asian markets posted a strong start to the new year, with the Hong Kong market closing at a record high.

The blue-chip Hang Seng Index rose 345.46 points, or 1.73%, to close at 20,310.18.

Financial markets in Japan, Thailand, Malaysia, China, Singapore and New Zealand remained closed on Tuesday.