CANADA STOCKS-TSX may edge higher at open on commodities

Tue Aug 11, 2009 8:37am EDT
 
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 TORONTO, Aug 11 (Reuters) - Toronto's main stock index
could edge higher at the open on Tuesday as commodity prices
are poised to lift the resource-heavy index after investors
pocketed profits in the previous session.
 But a cautious mood remains ahead of the U.S. Federal
Reserve's two-day policy meeting.
 The S&P/TSX composite index .GSPTSE finished Monday's
session 91.66 points, or 0.84 percent, lower at 10,793.67,
largely on profit-taking after the index logged its fourth
straight week of gains last week.
 Here is some of the news that may affect the market.
 COMMODITIES
 Gold firmed in Europe as the U.S. dollar's weakness boosted
interest in the precious metal, while firmer oil prices also
highlighted bullion's appeal as a potential hedge against
inflation. [ID:nLB700009]
 Oil prices crept above $71 a barrel, spurred by record fuel
imports to the world's second biggest energy user, China, but
the market was cautious ahead of the next sets of supply and
demand data. [ID:nSP473359]
 CAMECO
 Cameco Corp (CCO.TO: Quote) denied there were any undisclosed
material developments regarding a sale of its 49-percent stake
in Centerra Gold Inc (CG.TO: Quote), and said speculation that it had
hired investment bankers to draft a deal was wrong. Shares of
Centerra fell 9 percent on Monday before Cameco released its
after-market denial. [ID:nN10322734]
 U.S. FEDERAL RESERVE
 The Federal Reserve, which begins its two-day meeting on
Tuesday, is expected to give a nod to signs the U.S. recession
is waning but will likely warn that the recovery will be slow
and dampen any expectations it will soon start to raise
interest rates. The Fed's policy-setting committee is expected
to hold its benchmark overnight rate in a range of zero to 0.25
percent. [ID:nN10470294]
 AETERNA ZENTARIS
 Biopharmaceutical company Aeterna Zentaris Inc (AEZ.TO: Quote)
reported a smaller second-quarter loss, in part because of
lower expenses. [ID:nN11508714]
 See also:
 * Cardiome Pharma Corp (COM.TO: Quote) second-quarter results
[ID:nWNBB3527]
 * Paladin Labs Inc PLB.TO second-quarter results
[ID:nWNBB3518]
 CASCADES
 Packaging and paper-products company Cascades Inc (CAS.TO: Quote)
posted a second-quarter profit that beat market estimates,
helped by a favorable variable move in costs across all its
sectors and said it expects the demand recovery to continue in
the third quarter. [ID:nBNG463553]
 RESEARCH ROUNDUP
 Following is a summary of research actions on Canadian
companies reported by Reuters on Tuesday. For additional
research, please double click [RCH/CA]
 * Morgan Stanley raises price target on Sino-Forest Corp
TRE.TO
 * Dundee raises Canfor Pulp Income Fund CFX_u.TO to
neutral from sell
 * Versant cuts price target on Cardiome Pharma
==============================================================
FOR CANADIAN MARKETS NEWS, CLICK ON CODES IN BRACKETS:
TSX market report..........[.TO]
Canadian dollar and bonds report....[CAD/][CA/]
Top News: Canada ......[TOP/CAN]
Today in Canada.......[CA/DIARY]
Canadian company news .. [E-CAN]
Reuters global stocks poll (Canada)...EQUITYPOLL5 [EPOLL/CA]
FOR CANADIAN MARKETS DATA, CLICK ON CODES IN BRACKETS:
Canadian Equities speed guide.......<CA/EQUITY>
S&P/TSX Composite index ...............GSPTSE
S&P/TSE Venture composite index .......SPCDNX
TSX most active..........AV.TO
Venture Exchange most active.............AV.V
Top TSX pct gainers......PG.TO
Top TSX pct losers.......PL.TO
S&P/TSX 60 index .......
52 week highs:
 TSX...............t.YH.TO  Venture..............t.YH.V
52 week lows:
 TSX...............t.YL.TO  Venture..............t.YL.V
Canadian dollar quote......CAD=CAD=D3=CAD
FOR MAIN GLOBAL MARKET DATA AND MARKET REPORTS:
  FTSE EUROTOP 300 ......FTEU3  EUROPEAN REPORT .......[.EU]
  Nikkei 225..............N225  Tokyo report............[.T]
  FTSE 100................FTSE  London report...........[.L]
  Xetra DAX..............GDAXI  Frankfurt market stories[.F]
  CAC-40...FCHI  Paris market stories...[.PA]
  World Indices.......<0#.INDEX>
  Foreign exchange........[FRX/]
  Oil.......[O/R]
  US Treasuries............[US/]
  International bonds.....[EUB/]
  Gold.........[GOL/X] or [GOL/]
  CRB index of commodity futures.........[CRB/]