CANADA STOCKS-Higher gold, oil prices point to firm TSX open
TORONTO, Nov 13 (Reuters) - Toronto's main stock index may open firmer on Friday on renewed interest in key commodities that took the price of gold higher.
The S&P/TSX composite index .GSPTSE finished Thursday's session down 78.99 points, or 0.69 percent, at 11,360.76.
Here is some of the news that may affect the market.
Suncor Energy Inc SU.TO, Canada's biggest oil company, said on Friday it is budgeting C$5.5 billion for capital spending in 2010 and will restart construction on its Firebag Stage 3 oil sands project. For details, see [ID:nBNG481094]
U.S. crude oil fell below $77 a barrel, touching its lowest level in almost a month as bulging fuel inventories in the United States highlighted the weakness of demand. [ID:nSP412045]
* See also: Total CEO says $76 oil too high given low demand [ID:nN12439188]
* See also: BofA-Merrill Lynch ups 2010 U.S. oil forecast to $85 [ID:nLD711410]
GOLD NEARS RECORD
Gold rose, hovering below the previous session's record high and building a base above $1,100 an ounce. Bullion has hit record highs for six out of the past eight sessions. [GOL/]
COMPANY RESULTS IN BRIEF
* Mega Brands MB.TO returns to profit in Q3 [ID:nN13456455]
* Enerplus ERF_u.TO Q3 profit plunges 90 pct [ID:nBNG169580]
* Uranium One UUU.TO narrows loss, tweaks 2010 outlook [ID:nN13262197]
* Boardwalk BEI_u.TO REIT says fund flows down in Q3 [ID:nBNG503214]
* Groupe Aeroplan AER.TO Q3 profit lags market view [ID:nBNG26363]
* Linamar LNR.TO results benefit from auto industry pickup [ID:nN12433084]
German carmaker Volkswagen VOWG.DE has dropped a threat to stop awarding contracts to Magna International MGa.TO after the Canadian auto supplier failed to buy rival carmaker Opel, according to a newspaper report. [ID:nLD661152]
Canadian National Railway CNR.TO,Canada's largest railroad, believes the economy has touched bottom and expects a gradual recovery, shaped more like the Nike swoosh logo rather than a robust V-shaped rebound. Railways are often considered barometers of the overall economy. [ID:nN12421580]
CONSUMER SENTIMENT DATA
The University of Michigan preliminary November reading on U.S. consumer sentiment may also draw attention as market players look for further signs of economic recovery. The monthly index is expected at 71.0, compared with the final October reading of 70.6. The data is due at 9:55 a.m. EST. <ECI/US>
Following is a summary of research actions on Canadian companies reported by Reuters on Friday. [RCH/CA]
* Raymond James raises Encana ECA.TO ECA.N to "outperform" from "market perform"
* Genuity raises Capstone Mining CS.TO to "buy" from "hold"
* Macquarie, UBS, Genuity raise price target on BCE BCE.TO
(Reporting by Ka Yan Ng; editing by Jeffrey Benkoe)
© Thomson Reuters 2016 All rights reserved.