March 27, 2012 / 12:22 PM / 5 years ago

CANADA STOCKS-TSX may edge up after Bernanke comments

March 27 (Reuters) - Toronto’s main stock index looked set to edge higher at Tuesday’s opening, after the Federal Reserve signaled it would keep supporting economic growth with loose monetary policy, but concerns about the euro zone debt crisis may limit gains.

FACTORS TO WATCH

* Canadian equity futures pointed to a higher open.

* U.S. stock index futures were little changed as investors found little reason to keep pushing shares higher after comments from Federal Reserve Chairman Ben Bernanke sparked a rally.

* European shares gained, with banks among the biggest movers on reports of a stake sale at Royal Bank of Scotland, while expectations of another round of monetary easing in the United States also helped give support.

COMMODITY PRICE MOVES

* The Thomson Reuters-Jefferies CRB index, a global commodities benchmark, rose 0.05 percent in early trade.

* Oil held above $125 a barrel, boosted by supply concerns amid tightening Western sanctions on Iran although expectations for an increase in U.S. crude inventories dampened sentiment.

* Gold prices steadied around two-week highs after posting their biggest one-day rise since late January in the previous session, boosted by expectations that U.S. interest rates will stay lower for longer and by gains in the euro.

* Copper was steady, as the dollar held near a one-month low and world equities rose after Federal Reserve Chairman Ben Bernanke signaled the United States’ ultra-loose monetary policy will continue.

CANADIAN STOCKS TO WATCH

* Centerra Gold : The miner said it expects production from its Kumtor mine in the Kyrgyz Republic to be lower than its forecast as increased ice movement delays access to a high-grade zone.

* Barrick Gold : The gold miner sees lower cash costs at its Lumwana mine in Zambia in 2013 as mining at the copper project moves out of the lower grade material in the Malundwe pit and into the new Chimiwungo pit, CEO Aaron Regent said on Monday.

* Enbridge Inc. : The company and Enterprise Products Partners LP will more than double the capacity of the Seaway Pipeline, easing a major oil glut in the United States that has led to an unprecedented distortion in crude markets.

* WestFire Energy Ltd. : The oil and gas company posted a five-fold rise in FFO as production from its Viking areas increased.

ANALYST RECOMMENDATIONS

Following is a summary of research actions on Canadian companies reported by Reuters.

* Artis Real Estate Investment Trust : CIBC raises target to C$17.50 from C$16.50

* Crown Point Ventures Ltd : Canaccord Genuity raises price target to C$3.10 from C$3; Canaccord Genuity maintains rating speculative buy

* Genivar Inc. : CIBC raises price target to C$32 from C$30

* NAL Energy Corp. : CIBC cuts to sector performer from sector outperformer; CIBC cuts price target to C$8.60 from C$10.50

* Northern Property REIT : CIBC raises price target to C$33 from C$32.50

* Research In Motion : Exane raises target by 11 percent to $17, neutral

* SNC Lavalin Group Inc. : Canaccord Genuity cuts target to C$49 from C$58, rating buy; CIBC cuts price target to C$52 from C$53

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