CANADA STOCKS-TSX seen opening lower as oil, metals sag

Fri Oct 2, 2009 8:17am EDT
 
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 TORONTO, Oct 2 (Reuters) - Toronto's main stock index could
open lower on Friday as weak oil and metals prices pressured
weighty energy and mining shares.
 Toronto could also follow tumbling world stocks as
investors grew more cautious about the pace of economic
recovery. [MKTS/GLOB]
 U.S. stock index futures signaled a weaker open ahead of a
key U.S. jobs report due at 8:30 a.m. EDT (1230 GMT). [.N]
 On Thursday, the S&P/TSX composite index .GSPTSE ended
down 323.20 points, or 2.84 percent, at 11,071.76. That marked
the TSX's lowest close since Sept. 9.
 Here is some news that could affect the market:
 PENGROWTH ENERGY PGF_u.TO
 Pengrowth Energy Trust said on Thursday it will cut its
cash distribution by 30 percent starting in November so it can
expand capital expenditures and cut debt. [ID:nN01298870]
 CANWEST CGS.TO
 Paul Godfrey, chief executive of the National Post, the
money-losing flagship daily newspaper of Canwest Global
Communications Corp CGS.TO, has lined up financial support to
buy the daily newspapers owned by Canwest, the Globe and Mail
reported on its website late Thursday. [ID:nBNG399038]
 Separately, the CBC, Canada's public broadcaster, and the
National Post have agreed to share content across their media
platforms, the companies said Thursday. The Canadian
Broadcasting Corp and the Post did not disclose the terms of
the deal. [ID:nN01287392]
 AUTO SALES
 Ford Motor Co of Canada (F.N: Quote) bucked the trend in
September, posting comfortably higher auto sales even as the
broader Canadian industry continued to slide. [ID:nN01541558]
 CANADA SURVIVES NON-CONFIDENCE VOTE
 As expected, Canada's minority Conservative government
survived a non-confidence motion on Thursday on its handling of
the economic crisis due to a split among the three opposition
parties. [ID:nN01269968]
 OIL DOWN
 Oil fell below $70 a barrel Friday due to concerns about
the strength of the U.S. economy ahead of the employment data,
while tensions between the West and Iran over the OPEC member's
nuclear plans eased. [O/R]
 GOLD SAGS
 Gold inched down Friday, but remained within striking
distance of the key $1,000 an ounce level, as the dollar edged
up against a basket of currencies and the market held its
breath ahead of the U.S. payrolls data. [GOL/]
 Base metals were also lower after a batch of U.S. economic
data hit investor confidence and underpinned concern about
demand prospects. [MET/]
 COREL CORP CRE.TO
 Consumer software maker Corel Corp CREL.O posted a drop
in quarterly profit Thursday as revenue slumped in a difficult
economic environment. [ID:nN01161106]
 CANADA RESEARCH
 Blackmont raises Silver Wheaton Corp (SLW.TO: Quote) price target
to C$16.50 from C$13.50; rating outperform.
 Blackmont raises HudBay Minerals Inc (HBM.TO: Quote) price target
to C$14.70 From C$13; rating outperform.
 For more research, please see: [CA-RCH]
 ($1=$1.09 Canadian)
 (Reporting by Jennifer Kwan; editing by Jeffrey Benkoe)