Toronto's main stock index could open higher on Thursday, after shooting up for two straight sessions, supported by firmness in the price of oil and gold. However, economic gloom returned to world markets on Thursday with warnings about further declines in demand and production hitting equities and boosting bonds. [ID:nLC187102] The S&P/TSX composite index .GSPTSE rose 130.61 points, or 1.66 percent, to close at 8,011.02 on Wednesday. The rise followed a 4 percent gain Tuesday. Here is some news likely to affect the market: NORTEL NETWORKS (NT.TO: Quote, Profile, Research) Ailing telecom equipment maker Nortel Networks Corp, which filed for bankruptcy protection earlier this year, is looking to break itself up by selling off major divisions, the Globe and Mail reported on Thursday. [ID:nN12347303] IMAX CORP (IMX.TO: Quote, Profile, Research) Giant-screen movie theater company Imax Corp (IMX.TO: Quote, Profile, Research) (IMAX.O: Quote, Profile, Research) reported a smaller quarterly loss and said it expected to return to profitability in 2009 based on its slate of films and growing network of revenue-sharing theaters. [ID:nN11312545]

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