October 11, 2011 / 1:12 PM / 6 years ago

CANADA STOCKS-TSX set to open higher in catch-up after holiday

4 Min Read

Oct 11 (Reuters) - Toronto's main stock index was set for a higher open on Tuesday, catching up with rising global markets after closing on Monday for the Canadian Thanksgiving holiday.

Factors to Watch

* Canadian equity futures <0#SXF:> pointed to a higher open.

* U.S. stock index futures fell after a strong rally in the prior session as investors awaited the results of a key vote by Slovakia on expanding the euro zone rescue fund. [.N]

* European shares fell snapping a four-day rally, in cautious trading ahead of a vote in Slovakia on extending the euro zone rescue fund, and the start of U.S. earnings season. [.EU]

* Asian shares rose after China moved to support its stock market by buying shares of major banks ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ To receive an early e-mail of Reuters Morning News Call - Canada -- a preview of market moving news -- Thomson Reuters subscribers can register at [CA/MNC] ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

Commodity Price Moves

* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, fell 0.48 percent in early trade.

* Brent crude oil fell more than $1 to below $108 per barrel on concerns over the health of the euro zone economy and as Kuwaiti oil exports resumed after a strike by the country's customs union. [O/R]

* Gold eased 1 percent giving up some of the previous day's gains, as stocks and the euro were pressured by waning optimism over a new plan to tackle euro zone debt, and ahead of a vote in Slovakia to ratify changes to the bloc's rescue fund. [GOL/]

* Copper slipped prompted by concerns about the debt crisis in the euro zone, with uncertainty prevailing ahead of the outcome of a vote by Slovakia to approve new powers of the euro zone rescue fund. [MET/L]

Canadian Stocks to Watch

* Research In Motion RIM.TO: An activist shareholder in the Blackberry maker said owners of at least 8 percent of the company's stock supported calls for a sale of the company or at least a radical corporate reshuffling. [ID:nN1E7991HS]

* Air Canada ACa.TO ACb.TO: The Canadian government was considering its options on Monday but made it clear that a strike at Air Canada would not be tolerated after flight attendants at the country's biggest carrier issued a 72-hour strike notice. [ID:nN1E7990NJ]

Separately, flight attendants have rejected a tentative labor contract with the country's biggest airline, and also served notice of their intension to strike on October 13. [ID:nN1E79612M]

* Daylight Energy Ltd. DAY.TO: A unit of China Petrochemical Corp has signed a deal to buy the oil and gas explorer for C$2.2 billion in cash, underscoring China's quest to secure enough energy to power its booming economy. [ID:nL3E7LA1PW]

* Centamin Egypt Ltd. (CEE.TO): The miner said its gold production had returned to planned levels after the regular delivery of blasting products resumed in late July. [ID:nL3E7LB10Z]

* Talison Lithium TLH.TO: The company sold 53 percent more lithium concentrate in the first-quarter, helped by strong demand for the product from electric vehicle battery makers. [ID:nL3E7LB1X1]

Analyst Recommendations

Following is a summary of research actions on Canadian companies reported by Reuters. [RCH/CA]

* Alliance Grain Traders (AGT.TO) price target cut to C$26 from C$27 at National Bank

* Dragonwave Inc DWI.TO rating cut to sector underperformer from sector performer at CIBC

* Enbridge Inc (ENB.TO) price target raised to C$34 from C$33.50 at National Bank; price target raised to C$35 from C$34 at CIBC

* MDA (MDA.TO) price target cut to C$48.50 from C$59.50 at CIBC

$1= $1.03 Canadian Reporting by Anil Kumar; Editing by Jeffrey Hodgson

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