October 9, 2008 / 1:10 PM / 9 years ago

CANADA STOCKS - Factors to watch on Oct 9

4 Min Read

TORONTO, Oct 9 (Reuters) - Canada's S&P/TSX composite index .GSPTSE may extend gains on Thursday after snapping a five-day losing streak as a surprise coordinated interest rate cut by central banks on Wednesday injected some confidence to the market.

Here is some of the news that could affect the market.

Finmin Flaherty

Canadian Finance Minister Jim Flaherty says he has "absolutely no concern" about the health of the country's financial institutions, but remains focused on the issue of availability of credit. He says the government is not looking at a rescue package for banks. [ID:nTOR003584]

Canadian Banks

World Economic Forum survey finds Canada has the world's soundest banking system, closely followed by Sweden, Luxembourg and Australia. [ID:nSYD394240]

Canada Election

Canadian Prime Minister Stephen Harper's Conservatives, hammered recently over the financial crisis, have regained a sizable lead in public support ahead of the Oct. 14 election, a poll shows. [ID:nN08171947]


Canadian investigators find four meat products infected with listeria in a Maple Leaf Foods Inc (MFI.TO) plant that recently was reopened after an outbreak of the disease linked to at least 20 deaths. [ID:nN09257769]

Oil and Gas Cos

BMO cuts North American oil & gas producers to market perform from outperform, including Canadian Natural Resources CNQ.TO. [ID:nWNAS3916]


TransAlta Corp (TA.TO) says it has closed the sale of two Mexican electricity plants to a power generation firm owned by the Ontario Teachers' Pension Plan and an arm of bailout target American International Group (AIG.N). [ID:nN08353743]


Oil was slightly above $89 a barrel after a steep slide this week in response to expectations that demand will fall sharply if the global economy goes into recession. [ID:nSP359316]

Gold Falls, Base Metals Steady

Gold falls to below $900 an ounce as investors locked in profits after a rise in almost $20 an ounce on Wednesday and firmer stock markets. [ID:nL9239336], while most base metals were steady. [ID:nL9453347]


Versant Partners raises CAE Inc to buy from hold, citing positive long-term fundamentals for the company, which provides simulation and modeling technologies for the civil aviation industry and defense forces around the globe. [ID:nWNAS3866]


Imperial Oil says it is apportioning diesel supplies to commercial customers in Western Canada as it works on an atmospheric tower at its Strathcona refinery near Edmonton, Alberta. [ID:nN08253670]

Also, refinery outages have created a shortage of diesel fuel in Western Canada, industry officials say. [ID:nN08251117]

u.s. Data

The number of U.S. workers filing new claims for jobless benefits fell last week in line with forecasts, government data shows. [ID:nN09291896] ($1=$1.12 Canadian) (Reporting by Jennifer Kwan; Editing by James Dalgleish)

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