CANADA STOCKS-TSX may open lower with commodities soft, Fed eyed

Tue Apr 3, 2012 8:46am EDT
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April 3 (Reuters) - Toronto's resource heavy main stock
index looked set to open lower on Tuesday, hurt by soft
commodity prices, with investors cautious after recent gains and
some mixed economic data.	
    Investors awaited minutes from the U.S. Federal Open Market
Committee's March 13 meeting, due at 2 p.m. EDT (1800 GMT), that
may provide clues on any potential quantitative easing.
    U.S. Federal Reserve policymakers on Monday signaled little
appetite for further monetary steps to stimulate U.S. growth in
an economy that is gradually strengthening. 	
    * Canadian equity futures pointed to a lower open.	
    * U.S. stock index futures fell after the S&P 500 climbed to
a 4-year high in the previous session as investors awaited
factory orders data and minutes of the latest Federal Reserve
    * European shares fell, a day after recording their biggest
daily gain in three weeks, with the Spanish market hit by
concerns over its ability to tackle its deficit though the
uptrend remained intact on the FTSEurofirst 300 index.COMMODITY PRICE MOVES	
    * The Thomson Reuters-Jefferies CRB index, a global
commodities benchmark, fell 0.39 percent in early trade.	
    * Oil slipped below $125 a barrel after U.S. gasoline demand
data weakened sentiment although the prospect of tighter North
Sea supplies and positive economic data provided some support. 
    * Gold held near $1,675 an ounce as investors took to the
sidelines ahead of the release of minutes from the Federal
Reserve's latest policy meeting, which will be closely watched
for clues on the direction of U.S. monetary policy. 	
    * Copper dipped, but held close to its highest in nearly two
months after better-than-expected manufacturing data in China
and the United States suggested economic recovery and a pick up
in demand for industrial metals in the two biggest economies.
    * Royal Bank of Canada : The bank said it agreed to
acquire the 50 percent stake in RBC Dexia that it does not
already own from its joint-venture partner Banque Internationale
à Luxembourg S. A. for 837.5 million euros. 	
    Separately, the U.S. futures regulator CFTC accused the bank
of running a "trading scheme of massive proportion" to gain
lucrative Canadian tax benefits. 	
    * Lake Shore Gold Corp. : The gold miner said an
accident at its Timmins West mine in Ontario resulted in the
death of one of its employees. 	
    Following is a summary of research actions on Canadian
companies reported by Reuters. 	
    * Athabasca Oil Sands : Macquarie adds to buy list
in Canada high conviction calls	
    * Atlantic Power Corp. : CIBC raises price target to
C$13.75 from C$13.50; NBF ups target to C$15 from C$14.50,
rating sector perform	
    * Avion Gold Corp. : Canaccord Genuity cuts target
to C$2.50 from C$3, rating buy	
    * Champion Minerals : Macquarie adds to buy list	
    * Claude Resources : Canaccord Genuity cuts price
target to C$2.25 from C$2.85	
    * Extorre Gold Mines : Canaccord Genuity cuts price
target to C$9.10 from C$12.40	
    * Genworth MI Canada : Macquarie cuts target to C$25
from C$25.50, rating neutral	
    * Goldcorp Inc. : Macquarie raises price target to
C$63 from C$62, rating outperform	
    * Mercator Minerals : Canaccord Genuity cuts target
to C$2.50 from C$2.85, rating buy	
    * Rio Alto Mining Ltd. : CIBC raises price target to
C$6 from C$5.80