CANADA STOCKS-Higher gold, oil prices point to firm TSX open

Fri Nov 13, 2009 8:59am EST
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 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.
 * 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 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/]
 * Mega Brands MB.TO returns to profit in Q3
 * Enerplus ERF_u.TO Q3 profit plunges 90 pct
 * Uranium One UUU.TO narrows loss, tweaks 2010 outlook
 * Boardwalk BEI_u.TO REIT says fund flows down in Q3
 * Groupe Aeroplan AER.TO Q3 profit lags market view
 * 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]
 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.
 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
 * Macquarie, UBS, Genuity raise price target on BCE
 (Reporting by Ka Yan Ng; editing by Jeffrey Benkoe)