CANADA STOCKS-TSX could see third day of gains

Fri Aug 14, 2009 8:20am EDT
 
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 TORONTO, Aug 14 (Reuters) - Toronto's main stock market
index could extend its gains to a third straight session on
Friday as firm gold and energy prices prop up the
resource-heavy market.
 Investors will also take time to digest key economic data
before the market opens.
  Economists in a Reuters survey expect the U.S. Consumer
Price Index to be unchanged compared with a 0.7 percent
increase in June. Excluding volatile food and energy items, CPI
is expected to rise 0.1 percent versus a 0.2 percent increase
in June. [nN12131654]
 Also, the Federal Reserve releases industrial production
and capacity utilization data for July. Economists expect a 0.3
percent rise in production and a reading of 68.3 percent for
capacity utilization. In June, production fell 0.4 percent and
capacity utilization was 68.0 percent.
 The Toronto Stock Exchange's S&P/TSX composite index
.GSPTSE rose 1.6 percent to 10,825.56 on Thursday as
surprisingly strong European economic data buoyed sentiment and
commodity prices, sparking a resource-led rally. [nN13264987].
 Here is some of the news that may affect the market.
 U.S.CRUDE RISES
 Oil headed toward $71 a barrel on on Friday, rising for the
fourth day, on growing confidence the global economy was
exiting the worst of recession in decades and beginning to
boost energy demand. [nSP445199]
 GOLD RISES
 Gold rose in Europe on Friday as the dollar edged lower
versus a basket of currencies ahead of a raft of U.S. data due
later in the session, while oil and equities extended gains on
hopes for an economic recovery. [nLE501497]
 CANADA BANK EYES ALLIED IRISH BANKS
 A Canadian bank has made a preliminary approach about a
potential investment in Allied Irish Banks ALBK.I, two
sources familiar with the matter said on Friday. [nWLA1241]
 GROUPE AEROPLAN
 Groupe Aeroplan Inc AER.TO, which operates Air Canada's
ACa.TO frequent flier program, posted a lower quarterly
profit on Friday and said it expects a decline in consolidated
gross billings for the year. [nBNG449853]
 MAGNA INTERNATIONAL
 The federal government in Berlin and the states where Opel
has plants are only prepared to offer financing aid if Canada's
Magna MGa.TO wins the battle for the carmaker, a senior ally
of German Chancellor Angela Merkel said. [nLE608484]
 LINAMAR
 Auto parts maker Linamar Corp LNR.TO reported a bigger
than expected quarterly loss on Thursday, hit by "excessive
production shutdowns," as well as restructuring costs and other
charges. [nN13228577]
 RESEARCH ROUNDUP:
 * RBC RAISES GILDAN ACTIVEWEAR GIL.N PRICE TARGET TO $21
FROM $18; RATING SECTOR PERFORM
 * UBS RAISES CANADIAN TIRE CORP CTCa.TO PRICE TARGET TO
C$67 FROM C$56; RATING BUY
 * GENUITY RAISES LINAMAR CORP LNR.TO PRICE TARGET TO C$18
FROM C$14; RATING BUY
 Other research actions: For additional research, please
double click [RCH/CA]
  ($1=$1.09 Canadian)
 (Reporting by Scott Anderson; Editing by Padraic Cassidy)