July 3, 2009 / 12:33 PM / 8 years ago

CANADA STOCKS-TSX may open little changed in thin trade

3 Min Read

TORONTO, July 3 (Reuters) - Toronto's main stock market index could open little changed on Friday morning in thin trading with with the U.S. markets closed for a holiday and mixed commodity prices.

World stocks fell on Friday after a grim U.S. jobs reading and euro zone data added to expectations the pace of economic recovery would be slow. [MKTS/GLOB] U.S. markets were closed in observance of the Independence Day holiday.

On Thursday, the S&P/TSX composite index .GSPTSE closed down 129 points, or 1.24 percent, at 10,245.91.

Here is some news that could affect the market:


Teck Resources TCKb.TO said on Friday it will sell a 17.2 percent equity stake to state-owned China Investment Corp through a private placement that will raise C$1.74 billion ($1.5 billion) and help the miner pay down debt. [ID:nN03153079]

Flaherty: No Plans to Add to Stimulus

Canada has no immediate plans to increase the size of its two-year stimulus plan, which is designed to pump an extra C$46 billion into the economy, Finance Minister Jim Flaherty said on Thursday. [ID:nN02102101]

Oil Sags

Oil traded below $67 a barrel on Friday, after a fall of nearly 4 percent in the previous session, pressured by a stronger dollar and investor concern about the economic outlook and energy demand. [ID:nSYD475678]

Gold Up, Base Metals Fall

Gold rose on Friday, steadying above $931 per ounce as the dollar lost ground versus the euro, with deeper concerns over the U.S. economic outlook also underpinning the metal. [ID:nL3101840] Base metals were lower. [ID:nL3514680]

Quebecor World Inc iqw.to

Bankrupt commercial printer Quebecor World Inc IQW.TO said on Thursday that its U.S. and Canadian plans of reorganization have been approved by a U.S. bankruptcy court and the Quebec Superior Court. [ID:nN02115442]

Canada Research

Raymond James raises Pacific Rubiales Energy PRE.TO price target to C$13.50 from C$11; keeps outperform rating.

Canaccord Adams raises Savanna Energy SVY.TO price target to C$6.80 from C$6.50; keeps hold rating.[ID:nBNG482238] For more research, please see: [CA-RCH] ($1=$1.16 Canadian) (Reporting by Jennifer Kwan)

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