April 6, 2010 / 12:53 PM / 7 years ago

CANADA STOCKS-TSX may open lower on slipping oil, Greece

4 Min Read

TORONTO, April 6 (Reuters) - Toronto's main stock index may open lower on Tuesday as a dip in oil prices from 18-month highs weighs on the energy sector, but a boost in gold prices could help offset the losses.

The index could also follow U.S. futures, which edged lower after a report Greece wants to renegotiate a deal for financial aid spurred investors to seek less risky assets. [.N]

Toronto's main stock market index rose to an 18-month high on Monday before paring gains, as rising oil prices and firm U.S. economic data bolstered hopes for a sustained recovery.

Here is some news that could affect stock prices:

Greece Wants to Amend Eu Aid Deal

Greece's government, concerned that the IMF would impose tough conditions in exchange for aid, wants to amend a deal struck at an EU summit last month to bypass an IMF financial contribution, senior government sources in Athens told Market News International. [ID:nSGE635012]

Oil Slips

Oil retreated from 18-month highs after rallying for five sessions in a row, as the dollar's rise following strong U.S. economic data weighed on a number of key commodities. [O/R]

Euro Zone Fears Boost Gold

Fears over the fiscal health of smaller euro zone economies also lifted euro-priced gold to record highs at 841.89 euros an ounce, as the single currency fell after reports Greece wanted to amend a European Union aid deal. [GOL/]

Canadian Dollar Hits Parity

The Canadian dollar rose to one-for-one footing with the U.S. currency on Tuesday, hitting its strongest level since July 2008, boosted by rising commodity prices and expectations for higher domestic interest rates. [CAD/]

Metals Exploration Spending

Exploration spending by miners worldwide will jump sharply this year as metals prices rally and financing improves, reversing last year's slump, and a growing share will be spent on gold, according to a senior analyst at the Metals Economics Group. [ID:nN06143833]


Italy's antitrust authority has approved Enel's (ENEI.MI) purchase of the Italian assets of Canada's Stratic Energy SE.V, it said in its regular bulletin. [ID:nLDE63510S]

Sandvine Posts Profit

Canadian network equipment maker Sandvine Corp (SVC.TO) posted a surprise quarterly profit, helped by better sales and lower costs. [ID:nSGE6350F4]

Ghana Gold Mine

Keegan Resources Inc KGN.TO said results from a preliminary economic assessment study of its Esaase gold project in southern Ghana showed gold production over the first three years, on average, would be 243,300 ounces of gold a year. [ID:nSGE6350DK]

Research Roundup

Following is a summary of research actions on Canadian companies reported by Reuters on Tuesday. [RCH/CA]

* Raymond James cuts Agnico-Eagle Mines (AEM.TO) price target to $73.70 from $76; rating outperform

* Desjardins raises Allied Nevada Gold ANV.A price target to $20.75 from $18; rating buy

* RBC raises Astral Media ACMa.TO price target to C$44 from C$43, rating outperform

* UBS raises Brookfield Properties BPO.TO price target to $15.50 from $15. rating neutral

* Macquarie raises Enbridge Inc (ENB.TO) price target by C$1 to C$52, rating outperform

* RBC raises Norbord Inc NBD.TO price target to C$26 from C$24; rating outperform (Reporting by Claire Sibonney; Editing by Jeffrey Hodgson)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below