December 11, 2009 / 1:58 PM / 8 years ago

CANADA STOCKS-TSX could open higher on stronger commodities

3 Min Read

 TORONTO, Dec 11 (Reuters) - Toronto's main stock index could open higher on Friday as commodity prices strengthened on a weaker U.S. dollar, which could lift shares of oil and mining companies on the resource-laden index.
 The S&P/TSX composite index .GSPTSE could follow global equities, which were higher in part on reassuring economic data from China and comments by Moody's that U.S. and UK debt ratings were not at risk. [MKTS/GLOB]
 U.S. stock index futures also indicated a higher open. [.N]
 Below is some news that may affect the market:
 TELECOM STOCKS
 Canadian telecom stocks such as Rogers Communications Inc RCIb.TO, BCE Inc BCE.TO and Telus Corp T.TO may react to news the Canadian government will allow wireless start-up Globalive to operate, overturning an earlier regulatory ruling that denied the company a license. [ID:nN11254525]
 HUSKY ENERGY (HSE.TO)
 Husky Energy Inc agreed on Thursday to buy 98 gasoline stations in Ontario from Suncor Energy Inc (SU.TO) (SU.TO) for an undisclosed price as it looks to broaden the reach of its retail operations in Canada's biggest market. [ID:nN10187413]
 FORZANI GROUP  FGL.TO
 Forzani Group clocked a 71 percent rise in third-quarter profit as favorable weather through late September and October drove customers to the stores of Canada's biggest sporting goods retailer. [ID:nBNG411939]
 OIL RISES
 Oil rose on Friday as forecasts for higher demand growth next year and strong Chinese industrial output boosted sentiment, ending a seven-day losing streak which saw prices dip below $70 a barrel for the first time in two months. [O/R]
 GOLD RISES
 Gold prices rose above $1,140 per ounce in Europe on Friday, moving further away from near-four week lows hit recently, as buyers stepped tentatively into the market with support from a weaker dollar. [GOL/]
 CN RAIL  (CNR.TO)
 Canadian National Railway Co and the locomotive engineers' union said on Thursday they remain in talks with federal mediators and will negotiate beyond today's self-imposed deadline if they continue to see hope for a deal. [ID:nN10173878]
 BOMBARDIER  (BBDb.TO)
 Republic Airways Holdings RJET.O said it is evaluating Bombardier Inc's new C-Series regional aircraft as it looks to fleet replacement at its low-cost Frontier Airlines subsidiary. [ID:N10209759]
 CANADA RESEARCH ROUNDUP:
 JP Morgan raises Teck Resources TCKb.TO price target to C$47 from C$36.
 UBS raises Gildan Activewear GIL.TO price target to C$27 from C$25; rating buy.  (Reporting by Irene Kuan; Editing by Jeffrey Hodgson)                                      

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