TORONTO, Dec 10 (Reuters) - Toronto’s main stock index could open higher on Thursday as oil prices recovered from a more than 2 percent drop in the previous session, which could lift shares of weighty oil and gas companies.
Toronto’s S&P/TSX composite index .GSPTSE could also gain as U.S. stock index futures indicated a higher open. [.N] As well, world equities managed modest gains on Thursday following five sessions of losses. [MKTS/GLOB]
Here’s some news that could affect the market:
GILDAN ACTIVEWEAR (GIL.TO)
T-shirt maker Gildan Activewear Inc (GIL.TO) said on Thursday its fourth-quarter profit nearly doubled, helped mostly by lower manufacturing costs. [ID:nN10116253]
LULULEMON ATHLETICA LLL.TO
Clothing retailer Lululemon Athletica LLL.TO said on Wednesday its third-quarter profit jumped nearly 60 percent, topping earlier expectations, helped by strong demand for its trendy yoga and fitness wear. [ID:nN09232669]
CANADIAN WESTERN TO BUY NATIONAL LEASING
Canadian Western Bank CWB.TO, which said in September it plans to double in size in coming years, said on Wednesday it agreed to buy commercial equipment lessor National Leasing Group in a cash and stock deal worth C$130 million ($124 million). [ID:nN09237876]
Oil rose above $71 a barrel on Thursday, recovering after falling more than 2 percent in the previous session, supported by a weaker dollar and rising equities. [O/R]
Gold edged lower in Europe on Thursday as concerns over the fiscal health of euro zone economies pressured the single currency versus the dollar, curbing interest in gold as an alternative to the U.S. unit. [GOL/]
CANADA RESEARCH ROUNDUP
RBC cuts Research in Motion RIMM.O price target to $120 from $150; rating outperform.
Goldman Sachs cuts EnCana Corp (ECA.TO) price target to $34 from $63 following Cenovus spin-off.
RBC raises Lululemon Athletica (LULU.O) price target to $32 from $30; rating outperform.
RBC raises Harry Winston Diamond HWD.N price target to $11 from $9; rating sector perform.
For more research, please see [CA-RCH]
($1=$1.05 Canadian) (Reporting by Irene Kuan and Jennifer Kwan; Editing by Jeffrey Hodgson)