CANADA STOCKS-TSX may bounce, resources firm

Tue Aug 18, 2009 8:25am EDT
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

 TORONTO, Aug 18 (Reuters) - A rebound in risk appetite,
supported by firmer commodity prices, may help Toronto's main
stock index recover from deep losses the previous session.
 The resource-heavy index .GSPTSE sagged 2.92 percent to
10,531.59 on Monday, touching its lowest level in just over two
weeks, battered by worries over the pace of the economic
recovery.
 U.S. stock index futures pointed to a higher open on
Tuesday, building on positive sentiment in overseas equity
markets, and ahead of key U.S. housing starts data.
[MKTS/GLOB]
 Here is some of the news that may affect the market:
 COMMODITIES
 Gold firmed in Europe and the oil market rebounded after
the previous session's losses. A recovery in stock markets
after Monday's sharp fall supported appetite for nominally
higher-risk assets like commodities, helping silver, platinum
and palladium to bounce more than 1 percent. [ID:nLI62842]
[ID:nSIN440961]
 See also:
 * Potash Corp POT.TO July inventory data [ID:nWEN2553]
 * Cameco CCO.TO files base shelf prospectus for debenture
issue [ID:nWNBB6630]
 U.S. HOUSING STARTS
 New home construction in the United States probably rose
for a third straight month to a seasonally adjusted annual rate
of 600,000 units in July, according to a median forecast of
economists surveyed by Reuters. Starts rose to 582,000 units in
June. Data due at 8:30 a.m. (1230 GMT).
 * See also: Times stay tough for Canadian commercial
property [ID:nN17333893]
 RESEARCH ROUNDUP: CANADIAN BANKS
 * Genuity raises price targets on five Canadian banks;
raises National Bank of Canada NA.TO to buy from hold
 * Macquarie raises Toronto-Dominion Bank TD.TO, Canadian
Western Bank CWB.TO to neutral from underperform; raises
price target on eight Canadian banks
 For a summary of research actions on Canadian companies
reported by  Reuters on Tuesday, please double-click [RCH/CA]
 QUEBEC SECURITIES WATCHDOG
 The securities watchdog for the province of Quebec won't go
along with the Canadian government's push to create a single,
national regulator, saying the plan undermines decades of local
expertise. [ID:nN17411516]
 ($1=$1.11 Canadian)
 (Reporting by Ka Yan Ng)