May 25, 2012 / 12:32 PM / 5 years ago

CANADA STOCKS-TSX may open lower as euro zone fears drag

3 Min Read

May 25 (Reuters) - Canada's resource heavy main stock index looked set to open lower on Friday, as lingering worries about a possible Greek exit from the euro zone offset firmer commodity prices.

Top Stories

* Europe's economic slowdown has hit the engine-room of the euro zone, including Germany, gloomy new indicators have revealed, adding urgency to the region's struggle to keep Greece's debt crisis from tearing the single currency apart.

* Shares in Spain's fourth-biggest lender, Bankia SA, were suspended on the Madrid stock exchange, ahead of an evening announcement when the bank is expected to ask the state for a rescue of more than 15 billion euros ($19 billion).

* Aerospace and industrial products maker Heroux-Devtek Inc posted a 12 percent rise in quarterly profit, helped by higher sales in its industrial business.

* Canada's Garda World Security Corp's profit rose as its security solutions segment benefited from robust demand in emerging markets.

Market Snapshot

* Canada stock futures traded lower.

* U.S. stock futures , , were mixed around -0.1 to 0.1 percent

* European shares, were down

Commodity Price Moves

* Thomson Reuters-Jeffries CRB Index : 282.6; was up 0.24 percent

* Gold Futures : $1,557.4; rose 0.01 percent

* US Crude : $91.07; rose 0.45 percent

* Brent Crude : $107.11; rose 0.53 percent

* LME 3-month Copper : $7,655; rose 0.53 percent

Canadian Stocks to Watch

* Enbridge Inc. : The pipeline operator said on Thursday shippers on its Ozark and Spearhead crude oil pipelines had overbooked capacity for June.

Analyst Recommendations

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

* Agrium : NBF starts with underperform rating as declining grain prices could take a toll on the company's sales and margins; price target $71

* RBC : CIBC cuts price target on stock on softer-than-expected Q2 results

* TD Bank : RBC cuts price target to C$98 from C$99 on valuation; rating outperform

* Computer Modelling Group : NBF raises price target to C$18.50 from C$17 on strong Q4 results

On the Calendar

* No major economic indicators scheduled for release

* Major U.S. events and data includes Thomson Reuters/University of Michigan consumer sentiment index and ECRI weekly index

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