September 19, 2012 / 12:52 PM / in 5 years

CANADA STOCKS-TSX may open higher after Bank of Japan stimulus

Sept 19 (Reuters) - Canada's main stock index looked set to open higher after the Bank of Japan eased monetary policy by boosting its asset-buying program.

TOP STORIES

* Canadian miner B2Gold Corp said it is buying CGA Mining Ltd in a deal valued at about C$1.1 billion.

* The Bank of Japan eased monetary policy by boosting its asset-buying program, as prospects of a near-term recovery in the world's third largest economy faded due to weakening exports and a prolonged slowdown in Chinese growth.

* French President Francois Hollande's Socialist-led government kick started ratification of a European Union budget discipline pact it grudgingly accepts as the next step out of the euro zone debt crisis.

* Germany sold 4 billion euros of two-year bonds, finding strong demand after a recent rise took yields back above zero, and as Spain's reluctance to seek financial aid kept investors on edge.

MARKET SNAPSHOT

* Canada stock futures traded up 0.15 percent

* U.S. stock futures , , were up around 0.1 percent

* European shares, were up

COMMODITY PRICE MOVES

* Thomson Reuters-Jefferies CRB Index : 310.63; fell 0.3 percent

* Gold futures : $1,778.5; rose 0.57 percent

* US crude : $94.49; fell 0.84 percent

* Brent crude : $110.58; fell 1.29 percent

* LME 3-month copper : $8,340.5; rose 0.26 percent

CANADIAN STOCKS TO WATCH

* Enbridge Inc. : The financial gains the pipeline company forecasts will flow from its proposed Northern Gateway pipeline to Canada's West Coast are based on rosier oil production predictions than the company shares with its own investors and analysts, an attorney for a native group opposed to the project said on Tuesday.

* Great Basin Gold Ltd. : The precious metals miner said its South African unit Southgold Exploration filed for creditor protection a week after it suspended operations at its Burnstone mine.

* Valeant Pharmaceuticals International Inc. : The drugmaker said it is offering about $1.75 billion of senior unsecured notes through a U.S. subsidiary to help fund its acquisition of Medicis Pharmaceutical Corp.

ANALYST RECOMMENDATIONS

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

* AGF Management Ltd. : Canaccord Genuity cuts target to C$14.00 from C$14.75 to reflect negative assets under management trends

* Axia NetMedia Corp. : National Bank Financial raises to sector perform from underperform, says a new growth cycle should start with the $5 million Bell contract exit a year in the past, oil sands opportunities in Alberta, Singapore growth and more France network activations

* CML HealthCare Inc. : Canaccord Genuity cuts target to C$9.50 from C$10.75 after the company's disappointing growth strategy announcement

* H&R REIT : National Bank Financial starts with outperform, target price C$28.35 on the real estate investment trust's institutional-quality portfolio, the high quality of its cash flows and its earnings visibility

* Penn West Exploration : Macquarie cuts to underperform and cuts target to C$14 from C$15.75 citing concerns in the near term which do not eliminate the need for future asset sales

ON THE CALENDAR

* No Major Canadian economic data scheduled for release

* Major U.S. events and data includes housing starts, building permits and existing home sales data

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below