March 5, 2009 / 1:52 PM / 8 years ago

CORRECTED - CANADA STOCKS-TSX could open lower as commodities weigh

4 Min Read

 (Fixes day of week in third paragraph)
 TORONTO, March 5 (Reuters) - Toronto's main stock index could open lower on Thursday as the resource-laden market comes under pressure from falling commodity prices after China did not announce extra stimulus measures.
 U.S. stock index futures were also lower after General Motors (GM.N) warned of possible bankruptcy. [MKTS/GLOB]
 On Wednesday, the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE rose 183.13 points, or 2.4 percent, to close at 7,814.75.
 Here is some news that could affect the market.
 CANADIAN NATURAL RESOURCES (CNQ.TO)
 Canadian Natural Resources Ltd (CNQ.TO) posted a more than two-fold jump in quarterly profit, which included the effects of unrealized risk management activity, stock-based compensation and fluctuations in foreign exchange. [ID:nBNG51902]
 TALISMAN ENERGY TLM.TO
 Talisman Energy Inc posted an 83 percent jump in fourth-quarter profit helped by gains on certain derivative contracts. [ID:nBNG419904]
 OIL DOWN
 Oil fell more than a dollar to below $44 a barrel on Thursday as a record drop in euro zone economic performance heightened expectations that fuel consumption would shrink further. [ID:nSP418371]
 GOLD, BASE METALS
 Gold ticked higher in Europe on Thursday, rebounding from losses in the previous session, as equity markets decline and boosted the metal's appeal. [ID:nL5490434] Copper slipped, while other base metals were mixed. [ID:nL5194852]
 HUDBAY MINERALS (HBM.TO)
 HudBay Minerals posted a sharp drop in its fourth-quarter results, as plunging copper and zinc prices hurt revenue, the company said on Wednesday. [ID:nN04545482]
 YAMANA GOLD (YRI.TO)
 Yamana Gold reported a higher quarterly profit on Wednesday, but its fourth-quarter revenue was lower than in the same period a year before, hurt by falling copper prices. [ID:nN04264965]
 WESTJET AIRLINES LTD (WJA.TO)
 WestJet Airlines Ltd expects its revenue per seat sold to fall by 10 to 12 percent in the first quarter as it wrestles with the sputtering economy and brisk competition on fares, Canada's second-largest airline said on Wednesday. [ID:nN04254838]
 TRISTAR TOG.TO
 TriStar Oil & Gas and Crescent Point Energy Trust CPG_u.TO said on Wednesday they've agreed to buy Talisman Energy Inc's TLM.TO lands in the prolific Bakken oil region of Saskatchewan and Montana for C$720 million to boost output. [ID:nN04255467]
 CANADIAN RESEARCH
 Genuity cuts Addax Petroleum AXC.TO price target to C$28 from C$29, while Versant reduces CAE (CAE.TO) price target to C$8.50 from C$9.00. For more research, please see: [ID:nBNG101723] [CA-RCH]  ($1=$1.29 Canadian)  (Reporting by Jennifer Kwan; Editing by James Dalgleish)   

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