CANADA STOCKS-TSX may open higher on resources, U.S. earnings

Wed Oct 14, 2009 8:20am EDT
 
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 TORONTO, Oct 14 (Reuters) - Toronto's main stock index
could open higher on Wednesday as a rise in commodity prices
may spark a rally in weighty resource issues while upbeat
corporate results from the United States helps sentiment.
 Toronto's energy and and materials groups, which together
account for more than 40 percent of the index's weighting, have
been well supported in recent weeks given the lofty prices for
gold and oil.
 Added support for the TSX could spill over from the United
States, where earnings from JPMorgan Chase & Co (JPM.N: Quote) early
Wednesday and from Intel Corp (INTC.O: Quote) late Tuesday both came
in ahead of expectations and helped boost U.S. stock futures.
That could help set the tone in the smaller TSX.
 The S&P/TSX composite index .GSPTSE fell 23.38 points
lower, or 0.2 percent, to 11,413.54 on Tuesday.
 Here is some new that could affect the market:
 GOLD HITS RECORD HIGH
 Gold hit a record high above $1,070 an ounce on Wednesday
as the U.S. dollar slid to new 14-month lows against the euro
and oil prices rose towards $75 a barrel, boosting interest in
commodities as an asset class. [GOL/]
 OIL HITS 2009 HIGH
 Oil surged for a fifth day on Wednesday to a 2009 high
above $75 a barrel, boosted by a weak U.S. dollar and optimism
about a global economic rebound that will lead to higher energy
demand. [O/R]
 BARRICK GOLD (ABX.TO: Quote)
 Barrick Gold Corp said on Tuesday it expects gold
production in 2010 to grow to 7.7 to 8.1 million ounces at
lower total cash costs than 2009. [ID:nWNAB8696]
 EXFO ELECTRO-OPTICAL ENGINEERING INC (EXF.TO: Quote)
 Canada's EXFO Electro-Optical Engineering Inc posted a
quarterly loss, hurt by restructuring charges and lower sales
volume caused by the recession, and forecast a first-quarter
loss. [ID:nBNG499401]
 CATALYST PAPER CTL.TO
 Catalyst Paper said on Tuesday its Chief Financial Officer
David Smales will leave the company effective Nov. 4 to join a
Toronto-based construction and infrastructure development firm.
[ID:nBNG535258]
 RESEARCH ROUNDUP:
 Following is a summary of research actions on Canadian
companies reported by Reuters. For more, please double click
[RCH/CA]
 * Raymond James cuts Eastern Platinum (ELR.TO: Quote) to
"outperform" from "strong buy" rating.
 ($1=$1.03 Canadian)
 (Reporting by Frank Pingue, Editing by Chizu Nomiyama)