CANADA STOCKS-TSX may fall with global stocks, oil

Tue Nov 3, 2009 8:15am EST
 
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 TORONTO, Nov 3 (Reuters) - Toronto's main stock index may 
fall at the open on Tuesday in line with declines in global
stock markets, and could also be pressured by the falling price
of oil.
 But gold returned to near-record prices, which could limit
the downside on the S&P/TSX composite index .GSPTSE.
 The main index finished lower on Monday, hurt by
profit-taking and a selloff in shares of BlackBerry maker
Research In Motion RIM.TO following an analyst downgrade. The
index closed 32.40 points lower at 10,878.35. [.TO]
 Here is some of the news that may affect the market.
 COMMODITY PRICES: OIL, GOLD
 Oil slipped towards $77 a barrel as the U.S. dollar rose
against a basket of currencies and as stock markets slipped in
Europe and Asia. [O/R]
 Gold rose towards last month's record, partly on news the
IMF had completed half of a planned gold sale. [GOL/]
 TALISMAN
 Talisman Energy Inc TLM.TO, Canada's third-largest
independent oil explorer, said its third-quarter profit
plummeted 98 percent as oil and gas prices tumbled from a year
earlier. [ID:nBNG167181]
 * See also: Talisman adds acreage in Pennsylvania marcellus
& Montney Shale [ID:nWNAB8815]
 KINROSS
 Kinross Gold (K.TO: Quote) said it slipped to a loss in the third
quarter, as higher costs associated with a mine expansion
offset the positive impact of soaring gold prices. The gold
miner last week cut its 2009 production outlook and raised its
cost guidance. [ID:nN02462973]
 RESEARCH ROUNDUP: Genuity raises Suncor to "buy"
 Brokerage Genuity raised price targets on several senior
oil and gas explorers and producers, including Suncor Energy
(SU.TO: Quote), Canadian Natural Resources (CNQ.TO: Quote), EnCana Corp
(ECA.TO: Quote), Nexen Inc NXY.TO, and Talisman Energy. It also
raised its rating on Suncor to "buy" from "hold".
[ID:nWNAB8837]
 Other research actions [RCH/CA] on Canadian companies
reported by Reuters on Tuesday include:
 * RBC starts Precision Drilling Trust PD_u.TO, 4 others
 * Raymond James cuts Heroux-Devtek (HRX.TO: Quote) target price,
Scotia raises
 MDS
 U.S. officials have asked for more information about the
planned sale of MDS Inc's MDS.TO Analytical Technologies
Division to Danaher Corp (DHR.N: Quote), the companies said. MDS, a
Canadian healthcare company, announced the $650 million deal in
September. [ID:nN03484631]
 AIR CANADA
 Air Canada ACa.TOACAb.TO, hounded by bankruptcy fears
earlier this year, is creeping out of the dog-house after a
recent fund-raising, a sign that an industry downturn is ending
and confidence in the carrier's management is growing. The
stock has been upgraded twice in two weeks. [ID:nN02439935]
 ENBRIDGE INCOME FUND
 Enbridge Income Fund ENF_u.TO said it has proposed a
restructuring of the fund to convert from a tax-advantaged
income trust to a taxable Canadian corporation as required by
the law, which comes into effect on Jan. 1, 2011.
[ID:nBNG142081]
 U.S. FEDERAL RESERVE
 The U.S. central bank begins on Tuesday its two-day meeting
on interest rates. The Fed is not expected to depart from a
policy of maintaining low rates for an extended period of time
but it could discuss how to prepare markets for an eventual
policy shift. [ID:nN01437140]
 (Reporting by Ka Yan Ng, Editing by Chizu Nomiyama)