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:
 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]
 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]
 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]
 Canadian pharmacy chain Jean Coutu reported a quarterly
profit on Tuesday as retail sales increased significantly in
spite of current economic conditions. [ID:nN06414094]
 Canadian biotechnology company Theratechnologies Inc
reported a surprise quarterly profit, helped by a milestone
payment. [ID:nBNG469265]
 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 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/]
 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)