CANADA STOCKS-Toronto stocks could open lower on commodities

Mon Oct 4, 2010 8:43am EDT
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 Oct 4 (Reuters) - Toronto's resource-heavy index could open
lower on Monday as a firmer U.S. dollar pressured commodity
prices and a Swiss plan to tighten banking rules raised fears
of smaller bank profits.
 * Canadian equity futures <0#SXF:> pointed to a lower
 * U.S. stock index futures were lower after Swiss plans to
tighten banking rules weighed on markets. Switzerland will seek
to require global banks UBS AG and Credit Suisse to hold more
top-quality capital. [.N] [ID:nLDE6920GP]
* European share prices fell to a one-month low, with a
major index below a key technical level as concerns over the
pace of recovery pressured miners and oil majors. [.EU]
* Most Asian markets were up, but Japan's Nikkei fell 0.3
percent, taking its cues from the currency markets ahead of a
Bank of Japan policy decision. The market expects further
easing, albeit a minor move.
* The Thomson Reuters-Jefferies CRB index .CRB, a global
commodities benchmark, fell 0.41 percent in early trade.
* Oil eased from a two-month high as investors locked in
profits after a recent rally. But markets remained cautious
about the pace of the recovery and speculation of further
monetary policy easing. [O/R]
* Gold firmed, supported near record highs as investors
fretted about the outlook for the dollar amid speculation of
further U.S. monetary easing. [GOL/]
* Copper dipped, heading away from a two-year peak as the
dollar recovered and inventories ticked up. [MET/L]
 * BHP Billiton on Friday asked a U.S. court to dismiss a
lawsuit filed by Potash Corp (POT.TO: Quote), which alleges that BHP
misrepresented material facts related to its $39 billion
hostile bid for the world's largest fertilizer
 * Canadian National Railway (CNR.TO: Quote): Canada's largest rail
carrier and the union representing 2,700 conductors, trainmen
and yard crews reached a tentative deal on Friday, averting a
possible labor showdown at the company.[ID:nN01247893]
 * Great-West Lifeco Inc (GWO.TO: Quote), one of Canada's largest
life insurers, will appeal a court ruling ordering it to pay
C$456 million in a case related to the 1997 takeover of London
Insurance Group. [ID:nN03278592]
 * MI Developments Inc's MIMa.TO controlling shareholder
said on Friday it would make an offer of $13 per share, or $607
million, to buy out the remaining shares of the real estate
company. [ID:nN01248355]
 * ATCO Ltd (ACOx.TO: Quote): The company's 378-megawatt Unit 1 at
the Sheerness coal-fired power plant in Alberta, Canada, shut
by early Saturday, the Alberta Electric System Operator said in
a report.  Meanwhile, unit 2 continued to operate as usual.
 Following is a summary of research actions on Canadian
companies reported by Reuters. [RCH/CA]
 * RBC raises Astral Media ACMa.TO raised price target to
C$46 from C$44; rating outperform.
* Raymond James cuts DragonWave Inc DWI.TO to underperform
from market perform.
 ($1=$1.02 Canadian)
 (Reporting by Bangalore newsroom and Jennifer Kwan)