December 1, 2009 / 1:03 PM / 8 years ago

CANADA STOCKS-TSX could rise on commodities, risk appetite

3 Min Read

 TORONTO, Dec 1 (Reuters) - Toronto's main stock index could open higher on Tuesday as firm commodity prices boost shares of energy and mining companies, lifted in part as worries eased over debt issues in Dubai.
 On Monday, the S&P/TSX composite index .GSPTSE ended down 17.21 points, or 0.15 percent, at 11,447.20. The resource-laden index could follow world markets .MIWD00000PUS higher on Tuesday as investors appetite for risk increases and as U.S. stock index futures pointed to a higher open. [.N]
 Here is some news that could affect the market:
 BARRICK GOLD (ABX.TO)
 Barrick Gold said on Tuesday it completed the elimination of all gold hedges and forecast 2010 gold production to grow to 7.7 to 8.1 million ounces at lower total cash costs than 2009. [ID:nWNAB0833]
 COSSETTE INC KOS.TO
 Canadian advertising agency Cossette Inc said on Monday it accepted a sweetened bid from U.S. private equity group Mill Road Capital, and it continues to recommend that its shareholders reject an unsolicited takeover proposal from Cosmos Capital. [ID:nN30395158]
 HUSKY ENERGY Inc (HSE.TO),
 Husky Energy Inc, Canada's No. 3 integrated oil and gas company, on Monday acquired heavy-oil properties in Alberta and Saskatchewan producing more than 6,000 barrels per day and containing as much as 20.5 million barrels of reserves. [ID:nN30464628]
 CANADIAN NATIONAL RAILWAY CO (CNR.TO)
 Canada's efforts to speed through legislation to halt a strike by Canadian National Railway's locomotive engineers hit a political roadblock on Monday, preventing an immediate end to the walkout. [ID:nN30458784]
 OIL CLIMBS
 Oil climbed 1 percent to above $78 a barrel on Tuesday, adding to the previous session's advance, as concern eased that debt issues in Dubai would set back the global economic recovery. [O/R]
 GOLD HITS RECORD, BASE METALS FIRM
 Gold hit record highs near $1,200 an ounce on Tuesday as dollar weakness fuelled buying of the metal as an alternative asset, while investors speculating on further gains were cheered by its recovery from last week's lows. [GOL/]
 Copper rose to within a whisker of 14-month highs on Tuesday, boosted by manufacturing data from China, easing fears of contagion from a debt crisis in Dubai and a weaker U.S. dollar. [MET/L]
 CANADA RESEARCH
 Raymond James raised price targets for mining companies Agnico-Eagle (AEM.TO) to $80.50 from $67, rating "outperform," and on First Quantum Minerals (FM.TO), to C$130 from C$100, with a "strong buy" rating. [ID:nBNG374208]  ($1=$1.05 Canadian)  (Reporting by Jennifer Kwan; Editing by Padraic Cassidy)                                     

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