CANADA STOCKS-TSX may gain on firm resources, Fed stance

Wed Mar 17, 2010 8:36am EDT
 
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 TORONTO, March 17 (Reuters) - Toronto's main stock index
could push higher on Wednesday as investors flocked to riskier
assets after the U.S. Federal Reserve renewed a pledge to keep
interest rates low for a while.
 The Toronto Stock Exchange's S&P/TSX composite index
.GSPTSE could follow global markets, which climbed in
response to a relatively rosy outlook from the U.S. central
bank. U.S. stock index futures also pointed to a higher open.
[.N] [MKTS/GLOB] [ID:nN16251615]
 Here is some news that could influence stock prices:
 BROOKFIELD PROPERTIES CORP BPO.TO
 Brookfield Properties Corp may buy some 20 buildings around
the Washington D.C area that fell into default last summer, the
Wall Street Journal said, citing people familiar with the
situation. [ID:nSGE62G07E]
 OIL GAINS
 Oil extended gains to above $82 a barrel on Wednesday,
rising to within $2 of this year's high as Saudi Arabia's oil
minister described prices as "beautiful" at OPEC's production
meeting in Vienna. [O/R]
 GOLD, BASE METALS
 Gold extended gains and rose to its highest in more than a
week on Wednesday as a U.S. Federal Reserve decision to hold
interest rates unchanged hit the U.S. dollar and burnished the
metal's investment appeal. [GOL/]
 Copper hit a one-week high on Wednesday as the dollar
slipped, inventories fell and talk of a Chinese yuan
revaluation helped boost sentiment. [MET/L]
 TIMMINCO LTD TIM.TO
 Timminco Ltd reports fourth quarter loss per share of 48
Canadian cents and Q4 consolidated sales of C$25.5 million.
[ID:nWNAB0208]
 WESTJET AIRLINES Ltd's (WJA.TO: Quote)
 The resignation of WestJet Airlines Ltd's chief executive
caught investors off guard, knocking the carrier's shares lower
on Tuesday, but his replacement by an industry veteran may be
just what the former market darling needs, analysts said.
[ID:nN1695963]
 ENCANA CORP (ECA.TO: Quote),
 EnCana Corp, Canada's No. 1 natural gas producer, said on
Tuesday it will boost its 2010 capital budget by 20 percent to
$4.5 billion as it takes step to double production over the
next five years, despite low prices for the fuel.
[ID:nN1692833]
 CANADA RESEARCH
 Raymond James raises EnCana Corp raises price target to
C$36.50 from C$35; keeps market perform rating. Macquarie cuts
EnCana to neutral from outperform.
 JP Morgan raises Domtar Corp (UFS.N: Quote) price target to $78
from $66; rating overweight.
 Desjardins cuts MDS Inc MDZ.N price target to $8.50 from
$9; rating hold.
 Macquarie raises First Quantum Minerals (FM.TO: Quote) target
price to C$110 from C$95; rating outperform.
 ($1=$1.01 Canadian)
 (Reporting by Jennifer Kwan; Editing by James Dalgleish)