September 18, 2008 / 12:41 PM / 9 years ago

CANADA STOCKS - Factors to watch on Sept 18

3 Min Read

TORONTO, Sept 18 (Reuters) - Canada's S&P/TSX composite index .GSPTSE may open higher on Thursday after diving into bear market territory and touching its lowest level in almost two years in the previous session. Here is some of the news that could influence the market.

Central Bank Liquidity

Central banks around the globe say they will pump $180 billion in extra dollar funds into roiled money markets, in a move to ease a credit squeeze prompted by the mayhem on Wall Street. [ID:nSP129521]


Production resumed at the Maple Leaf Foods deli meat plant at the center of this summer's deadly outbreak of listeriosis food poisoning in Canada. The company's chief executive said on Wednesday it would probably be reasonable to expect product on the shelves in the middle or toward the end of next week. [ID:N17293557]


Cameco Corp, the world's largest uranium producer, cut its uranium production outlook for 2008 from the combined McArthur River/Key Lake operations, citing a delay in restarting the Key Lake mill due to challenges related to equipment upgrades. [ID:nBNG351737]


The chief executive of Research in Motion Ltd RIM.TO says the company that makes the BlackBerry will add carriers in rapidly growing emerging markets, and does not yet see a negative impact from a widening global financial crisis. [ID:nBOM349730]

Uts Energy Corp

UBS cuts UTS Energy price target to C$4 from C$9 and estimates UTS will need close to $4 billion in funding for phase one of the Fort Hills oil sands project, of which it has a 20 percent stake. [ID:nWNAS1559] Petro-Canada PCA.TO has said the cost of the project has ballooned by 50 percent due to higher expenses. [ID:nN17503011]


Oil rose to $99 a barrel as global markets rebounded after major central banks pumped billions of dollars into the money markets to ease the liquidity squeeze, and as the U.S. energy sector worked to restart operations shuttered by Hurricane Ike. [ID:nSP354592]

Gold Shines, Base Metals Fall

Gold glitters, climbing above $875 an ounce, as investors flocked to a safe haven and as central banks injected fresh liquidity into the rattled money markets [nLI386006]. Base metals extended losses for the fourth day in a row. [ID:nLI461400]


Potash Corp of Saskatchewan and Agrium Inc say strong demand and prices bode well for their balance sheets, even though shares of fertilizer producers have been battered since June. [ID:N17366029]

Canada Weathering Storm

Canada is weathering turbulence in global financial markets better than many other countries and its financial sector is well capitalized, Finance Minister Jim Flaherty said in a statement late on Wednesday. [ID:nN17303996] ($1=$1.07 Canadian) (Reporting by Jennifer Kwan; Editing by Frank McGurty)

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