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

Thu Mar 5, 2009 8:52am EST
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

 (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: Quote) 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: Quote)
 Canadian Natural Resources Ltd (CNQ.TO: Quote) 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: Quote)
 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: Quote)
 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: Quote)
 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: Quote)
 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: Quote) 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)