CANADA STOCKS-TSX could follow commodities to higher open

Mon Oct 19, 2009 8:15am EDT
 
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 TORONTO, Oct 19 (Reuters) - Toronto's main stock index may
open higher on Monday as its heavy weighting in natural
resource-related shares could benefit from gains in commodity
prices.
 A recent surge in prices for gold and oil have helped boost
the TSX from a five-year low touched in March. The energy and
materials sectors make up more than 40 percent of the TSX's
weighting.
 Earnings due from Apple Inc (AAPL.O: Quote) and Texas Instruments
Inc TXN.N out of the United States may also impact sentiment
as investors look for further signs of an economic rebound.
 The S&P/TSX composite index .GSPTSE closed virtually flat
at 11,504.76 on Friday. The index ended the week up 0.6
percent, its second weekly rise in a row.
 Here is some news that could affect the market:
 AGRIUM AGU.TO
 Fertilizer maker Agrium Inc AGU.TO agreed to sell part of
a nitrogen facility to Terra Industries Inc TRA.N for $250
million in cash as part of its hostile bid to acquire rival CF
Industries Holdings Inc (CF.N: Quote). [ID:nN19341430]
 QLT Inc QLT.TO
 Canadian eye-care company QLT Inc said it restructured its
pact with Novartis Pharma AG NOVN.VX, giving QLT the
exclusive rights to sell anti-blindness treatment Visudyne in
the United States. [ID:nBNG501789]
 TOROMONT INDUSTRIES LTD TIH.TO
 Canada's Toromont Industries Ltd announced on Friday a C$
597 million ($574 million) offer to acquire Enerflex EFX_u.TO
after friendly talks for a deal with the management of the
supplier of equipment for the oil and gas industry collapsed.
[ID:nN16370692]
 OIL STEADIES
 Oil hit a year-high above $79 a barrel on Monday, driven by
bullish sentiment across financial markets, but later slipped
back as traders questioned whether ample fuel supplies
justified current price levels. [O/R]
 GOLD ADDS TO GAINS
 Gold rose on Monday, building on the gains of the last two
weeks, as the euro rose towards $1.50 and oil prices reached a
new 12-month high near $80 a barrel. [ID:nLJ735828]
 RESEARCH ROUNDUP:
 Following is a summary of research actions on Canadian
companies reported by Reuters. For more, please double click
[RCH/CA]
 * Genuity raises Sun Life Financial's SLF.TO price target
2.5 percent to C$40.
 * Raymond James raises Trinidad Drilling's TDG.TO price
target 17.8 percent to C$8.25 with "outperform" rating.
 ($1=$1.03 Canadian)
 (Reporting by Frank Pingue; Editing by Padraic Cassidy)