July 19 (Reuters) - Toronto’s main stock index could open lower on Monday as commodity prices fell, weighed by concerns about the pace of global economic recovery.
The Reuters-Jefferies CRB index .CRB, a global commodities benchmark, was down 0.04 percent in early trade.
U.S. stock index futures climbed on Monday, signaling the S&P 500 could rebound from its worst one-day drop since June 29 on Friday, as earnings season kicks into high gear. [.N]
But Canadian equity futures pointed to a slightly lower open. <0#SXF:>
European shares rose, with miners among the gainers.
Major Asian shares were down, but Shanghai Composite Index .SSEC bucked the trend to gain 2.11 percent on optimism that China will maintain stable economic policies for the rest of the year.
Here is some news that could affect stock prices:
Oil prices slipped below $76 a barrel on Monday as investors weighed a sharp drop in U.S. consumer sentiment against early signs of improved oil demand. [O/R]
Copper bounced from a two-week low on Monday as a hefty stock drawdown underpinned prices, but traders saw gains limited due to economic growth worries and renewed jitters about euro zone debt problems. [MET/L]
Gold eased below $1,190 an ounce in Europe on Monday, extending the previous week’s 1.5 percent fall, due to lower investment demand for the precious metal as appetite for other assets improved. [GOL/]
Canadian stocks to watch include:
BOMBARDIER INC (BBDb.TO)
Bombardier (BBDb.TO) still has no launch customer for the expected 2013 debut of its C-Series passenger plane but expects to get one, the president of its commercial aircraft unit said on Monday. [ID:nLDE66I0ZK]
Apple Inc (AAPL.O) appears to be deliberately distorting the issues surrounding the iPhone 4’s antenna design by asserting that Research In Motion’s RIM.TORIMM.O BlackBerry has similar reception problems, RIM said on Friday. [ID:nN18152005]
CAPSTONE MINING CORP (CS.TO)
Capstone Mining Corp (CS.TO) on Monday said it lowered its 2010 outlook to 80 to 85 million pounds of copper, citing production shortfalls at its Cozamin and Minto mines. [ID:nWNAB6712]
Romarco Minerals R.V expects to significantly increase its estimate of the size of the gold resource at its flagship Haile project in South Carolina this year, the Canadian exploration company’s CEO said on Friday. [ID:nN16126613]
ONCOLYTICS BIOTECH INC (ONC.TO) ONCY.O
The company said Canadian health regulators approved its plan to conduct late-stage trials for its drug, reolysin, to treat patients with head and neck cancers. [ID:nSGE66I0G6]
Canadian renewable energy company Etrion Corp ETX.TO said on Monday it agreed to build a 3.5 megawatt solar power plant in the Lazio region of Italy with Phoenix Solar AG PS4G.DE, a German solar wholesaler. [ID:nSGE66I0FP]
Cliffs Natural Resources Inc (CLF.N) said on Monday it raised its stake in Canada’s Spider Resources Inc SPQ.V to about 82 percent, and extended its offer for shares of the Canadian company to July 26. [ID:nSGE66I0FX]
PALADIN ENERGY LTD (PDN.AX) PDN.TO
Australia-based Paladin Energy Ltd said uranium production more than doubled in the latest quarter, and forecast output of 7 million pounds for 2011. [ID:nSGE66I0FF]
Following is a summary of research actions on Canadian companies reported by Reuters. [RCH/CA]
* Canadian Satellite Radio Holdings Inc XSR.TO price target raised to C$2.50 from C$1.75; rating sector perform at RBC
* Research In Motion RIMM.O RIM.TO starts with buy rating; price target of $75 at Dundee
$1=$1.05 Canadian Reporting by Bangalore newsroom, editing by Bhaswati Mukhopadhyay and Jeffrey Hodgson