CANADA STOCKS-TSX may get boost at open from commodity rally

Tue Oct 6, 2009 8:28am EDT
 
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 TORONTO, Oct 6 (Reuters) - Toronto's main stock index could
open higher on Tuesday as the resource-heavy index may draw
support from the rally in prices for gold and oil.
 Investors may also continue to snap up recently beaten-down
shares after the TSX shed 4.3 percent in the two weeks leading
into Monday's session.
 The S&P/TSX composite index .GSPTSE rose 144.29 points,
or 1.32 percent, to 11,102.62 on Monday.
 Here is some news that could affect the market:
 IVANHOE IVN.TO
 Mongolia finally wrapped up a deal on Tuesday to develop
one of the world's biggest untapped copper and gold deposits,
signing off on Rio Tinto RIO.AX RIO.L and Ivanhoe Mines' $3
billion Oyu Tolgoi mine. [ID:nSP495396]
 BIOVAIL BVF.TO
 Acadia Pharmaceuticals Inc ACAD.O and its partner Biovail
Corp decided to conduct a third late-stage trial for
pimavanserin, their experimental drug for psychosis related to
Parkinson's disease that failed in a late-stage trial last
month, the companies said. [ID:nBNG167642]
 BCE BCE.TO
 Canadian telecommunications company BCE Inc on Tuesday
confirmed that it has reached an agreement with Apple Inc
AAPL.O to bring the iPhone 3G and iPhone 3GS to Canada this
November. [ID:N05392850]
 JEAN COUTU PJCa.TO
 Canadian pharmacy chain Jean Coutu reported a quarterly
profit on Tuesday as retail sales increased significantly in
spite of current economic conditions. [ID:nN06414094]
 THERATECHNOLOGIES TH.TO
 Canadian biotechnology company Theratechnologies Inc
reported a surprise quarterly profit, helped by a milestone
payment. [ID:nBNG469265]
 OIL PRICES
 Oil prices rose more than $1 to above $71 a barrel on
Tuesday, helped by a fall in the dollar after a report, later
denied, that Gulf Arab states were in talks to replace the U.S.
dollar with a basket of currencies in oil trading. [O/L]
 GOLD HITS 18-MONTH HIGH
 Gold rallied to an 18-month high on Tuesday as a report
that Gulf Arab states were considering pricing oil in a
currency other than the dollar knocked the U.S. unit, boosting
interest in the metal as an alternative asset. [GOL/]
 RESEARCH ROUNDUP:
 Following is a summary of research actions on Canadian
companies reported by  Reuters on Thursday. For more, please
double click [RCH/CA]
 * Macquarie raises Canadian Hydro Developers KHD.TO price
target by 9.4 percent to C$5.25 from C$4.80.
 * Genuity raises Equinox Minerals EQN.TO price target 8.8
percent to C$3.70 from C$3.40.
 * Macquarie cuts Pengrowth Energy Trust PGF_u.TO rating
to "neutral" from "outperform."
 ($1=$1.06 Canadian)
 (Reporting by Frank Pingue, Editing by Chizu Nomiyama)