CANADA STOCKS-TSX may open little changed, commodities mixed
TORONTO, July 5 (Reuters) - Toronto's main stock index may open little changed on Monday as copper and oil prices rose and gold slipped on a day when U.S. markets will stay closed for the Independence Day holiday.
The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE lost 4.4 percent last week, hitting its lowest in more than four months as resource issues, particularly gold miners, stumbled heavily. [ID:nN02244323]
OIL SLIGHTLY HIGHER
U.S. crude oil inched above $72 a barrel on Monday, snapping a five-day losing streak, but gains were limited due to concerns that slowing global growth could limit demand. [O/R] [ID:nSGE66405P]
Copper prices rose on the back of U.S. dollar weakness and arbitrage buying in Shanghai. [MET/L]
GOLD PRICES DIP
Gold prices edged lower edged below $1,210 an ounce on Monday as the risk aversion that drove prices to record highs last month abated, with caution during the U.S. Independence Day holiday also keeping a lid on gains. [GOL/]
SINO-FOREST SIGNS FUNDING DEAL
Forest plantation operator Sino Forest Corp TRE.TO said on Monday its Sino-Panel Investments Ltd unit has entered into a financing agreement for up to 10 billion RMB ($1.5 billion) with China Development Bank Corp for projects in China. [ID:nSGE6610KA]
VALE DEAL REACHED IN SUDBURY
Vale (VALE5.SA: Quote) said on Sunday it reached a tentative contract agreement with workers at its Sudbury, Ontario, nickel and copper mining operation, signaling the end of a bitter, year-long strike. [ID:nN04213666]
NORD RESOURCES LAYOFFS
Nord Resources Corp NRD.TO said on Monday is was temporarily suspending mining and crushing of ore at its Johnson Camp Mine and was laying off 43 people at the copper mine for cost reduction purposes.
CANADIAN DOLLAR SLIPS
The Canadian dollar fell against its U.S. counterpart on Monday morning, as investor demand faded in favor of the euro. [ID:nN05235183]
Following is a summary of research actions on Canadian companies reported by Reuters. [RCH/CA]
* Raymond James cuts Cervus Equipment CVL.V price target to C$13 from C$14; rating outperform
* Raymond James cuts Rocky Mountain Dealerships RME.TO price target to C$10.50 from C$13; rating outperform
* CIBC raises Angle Energy NGL.TO price target to C$10.25 from C$9.50; rating outperform
* Paradigm cuts Taseko Mines Ltd TKO.TO price target to C$6.50 from C$7.75; rating buy
($1=$1.07 Canadian) (Reporting by John McCrank; Editing by Frank McGurty)
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