March 16, 2010 / 12:29 PM / in 8 years

CANADA STOCKS-TSX may edge higher on resources; Fed eyed

 TORONTO, March 16 (Reuters) - Toronto’s main stock index could open higher on Tuesday as firmness in oil and metals prices boosts the index’s heavily-weighted commodity issues.
 The Toronto Stock Exchange’s S&P/TSX composite index .GSPTSE may also mirror moves in global exchanges, where world stocks .MIWD00000PUS climbed ahead of the U.S. Federal Reserve’s rate decision. [MKTS/GLOB] [ID:nN15205768]
 Here is some news that could influence stock prices:
 WESTJET AIRLINES LTD (WJA.TO)
 WestJet Airlines, Canada’s second-largest carrier, on Monday said President and Chief Executive Sean Durfy will resign from the company and its board of directors on April 1, citing personal reasons. [ID:nN15222496]
 MDS Inc MDS.TO
 MDS Inc on Tuesday posted a first-quarter loss from continuing operations, citing falling revenue and restructuring charges. [ID:nN16240799]
 FED RATE DECISION
 The U.S. Federal Reserve is expected to hold interest rates near zero at a meeting on Tuesday and renew its pledge to keep borrowing costs very low for a long time. But it could note a brightening economic picture and hint at being closer to dropping the vow. [ID:nN15205768]
 FIRST QUANTUM MINERALS LTD (FM.TO)
 First Quantum Minerals posted better-than-expected quarterly results, helped by higher copper prices and lower production costs, and said it sees increased production of copper and gold in 2010. [ID:nSGE62F0BO]
 ALAMOS GOLD INC AGI.TO
 Alamos Gold reported quarterly results that narrowly beat analysts’ estimates, as the Canadian miner was helped by higher production and lower costs at its key Mexican mine. [ID:nSGE62F0BY]
 OIL STEADY
 Oil held steady above $80 a barrel in a cautious market ahead of an OPEC meeting and expected monetary policy moves from the world’s top two oil consumers, the United States and China. [O/R]
 GOLD RISES
 Gold rose towards $1,115 an ounce in Europe on Tuesday, as persistent concern over sovereign and currency risk fueled buying of the metal as a safe haven, but trading was muted ahead of the Federal Reserve policy meeting. [GOL/]
 CANADA RESEARCH
 Goldman Sachs raises Domtar Corp (UFS.N) to “buy” from “neutral,” adds to Americas “Conviction Buy” list. [ID:nWNAB9914]
 RBC raises Transcontinental (TCLa.TO) price target to C$17 from C$16; rating “outperform.”
 Versant raises Boralex Inc (BLX.TO) raises target price to C$14.25 from C$14; rating “buy.”
 For research, please see: [CA-RCH]
 ($1=$1.02 Canadian)  (Reporting by Jennifer Kwan; Editing by Padraic Cassidy)                                       

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