CANADA STOCKS-TSX could open mixed as gold gains; oil sags

Mon Dec 14, 2009 8:41am EST
 
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 TORONTO, Dec 14 (Reuters) - Toronto's main stock index
could open flat to slightly higher on Monday as strength in
gold and base metals prices boost mining shares, but weakness
in oil prices could keep any gains in check.
 Toronto's S&P/TSX composite index .GSPTSE could follow
global equities, which climbed on Monday after Dubai said it
would receive a $10 billion bailout from fellow emirate Abu
Dhabi to repay debt. U.S. stock index futures pointed to a
higher open. [MKTS/GLOB] [.N].
 Here is some news that could affect the market:
 TERRA REJECTS SWEETENED CF TAKEOVER OFFER
 Fertilizer maker Terra Industries Inc TRA.N said its
board unanimously rejected a sweetened takeover offer from
rival CF Industries CF.N, sending Terra shares plummeting 21
percent in premarket trading. CF itself has been trying to fend
off a hostile takeover bid by Agrium Inc AGU.TO.
[ID:nN14170919]
 ENERPLUS  ERF_u.TO
 Canadian oil explorer Enerplus Resources Fund on Monday
said it will spend about C$425 million on its exploration
activities for 2010, up 35 percent from its budget for this
year, citing recovering crude oil prices and economic
conditions. [ID:nSGE5BD0MI]
 TMX GROUP X.TO
 TMX Group and NYSE Technologies said on Monday they will
form an international market data technology and distribution
agreement. [ID:nWNBB0835]
 OIL LOWER
 Oil headed lower for a ninth straight session on Monday to
trade below $70 a barrel, pressured by concerns over weak fuel
demand and brimming inventories. [O/R]
 GOLD RISES
 Gold prices rose 0.5 percent in Europe on Monday after news
that Dubai had averted a debt default sharpened appetite for
risk, pressuring the dollar and boosting higher-yielding
currencies such as the euro. [GOL/]
 CN RAIL  CNR.TO
 Canadian National Railway Co and the union representing
1,700 locomotive engineers will submit unresolved wage and
benefits issues to binding arbitration after talks failed to
yield a deal, the company said on Sunday. [ID:nN13133207]
 CANADA'S RESEARCH ROUNDUP
 - Scotia cuts Canadian banks sector to marketweight from
overweight.
 - Raymond James raises Toromont Industries TIH.TO price
target to C$34.50 from C$29; rating outperform
 - Macquarie raises Gildan Activewear GIL.TO price target
to $25 from $21; rating neutral.
 For more research, please see: [CA-RCH]
 ($1=$1.07 Canadian)
 (Reporting by Irene Kuan; Editing by Jeffrey Hodgson)