May 28, 2012 / 12:37 PM / in 5 years

CANADA STOCKS-TSX may open higher as Greece concerns ease

May 28 (Reuters) - Canada’s main stock index is expected to rise for the fifth straight session as commodity prices gained, cheered by opinion polls suggesting Greece’s pro-bailout parties will be able to form a government committed to keeping the country in the euro.

TOP STORIES

* Greece’s conservatives have regained an opinion poll lead that would allow the formation of a pro-bailout government committed to keeping the country in the euro zone, a batch of new surveys showed on Saturday.

* Spain may recapitalize Bankia with Spanish government bonds in return for shares in the bank which last week asked for rescue funding of 19 billion euros, a government source said on Sunday.

* Research In Motion Ltd is preparing for a major restructuring beginning in the next couple of weeks that will see it eliminate at least 2,000 jobs worldwide, the Globe and Mail reported on Saturday, citing unnamed sources.

* Talks between Canadian Pacific Railway Ltd and the union representing 4,800 striking locomotive engineers have broken down, paving the way for the government to bring in legislation forcing them back to work, the company said on Sunday.

MARKET SNAPSHOT

* Canada stock futures traded up 0.79 percent

* U.S. stock futures , , were up around 0.6 to 0.8 percent

* European shares, were up

COMMODITY PRICE MOVES

* Gold Futures : $1,582.5; rose 0.87 percent

* U.S. Crude : $91.8; rose 1.03 percent

* Brent Crude : $107.72; rose 0.83 percent

* LME 3-month Copper : $7,717; rose 1.02 percent

CANADIAN STOCKS TO WATCH

* Cipher Pharmaceuticals : Indian group Ranbaxy Laboratories has received U.S. approval for acne treatment drug Absorica and expects a U.S. launch in the fourth quarter of this year.

ANALYST RECOMMENDATIONS

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

* Advantage Oil and Gas : CIBC cuts price target to C$4.25 from C$4.75 on valuation

* Glacier Media : Canaccord Genuity raises price target to C$2.90 from C$2.50, and said it likes the company’s business mix

* Inmet Mining Corp : Canaccord Genuity cuts price target to C$70 from C$74 to reflect its view of the increased risk profile of the company

ON THE CALENDAR

* No major economic indicators scheduled for release

* U.S. markets are closed in observance of Memorial Day

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