October 19, 2011 / 12:42 PM / 6 years ago

CANADA STOCKS-TSX may open lower after Apple miss, EU plan eyed

Oct 19 (Reuters) - Toronto’s main stock index was set to open slightly lower on Wednesday as Apple shocked investors with results that missed expectations and markets were cautious about the degree of progress on a euro zone rescue plan.

FACTORS TO WATCH

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

* Nasdaq index futures fell after technology heavyweight Apple missed earnings expectations, while the broader market was little changed after a big run-up in the last session on a report Europe may beef up its crisis fund. [.N]

* European shares rose after reports that France and Germany had agreed a plan to boost the euro zone rescue fund to 2 trillion euros, which helped to fuel a late rally on Wall Street. [.EU]

* Most Asian stocks rose ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ 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, rose 0.08 percent in early trade.

* Brent crude slipped, hampered by euro zone debt fears after Moody’s Investors Service downgraded Spain’s sovereign rating, though optimism EU policymakers will take decisive measures limited losses. [O/R]

* Gold slid as higher hopes of a resolution to the euro zone debt crisis persuaded investors to shrug off a downgrade to Spain’s credit rating and opt for equities, but a softer dollar helped provide some support. [GOL/]

* Copper fell for a third day after Moody’s cut Spain’s sovereign ratings, adding to uncertainty over the euro zone’s lingering debt crisis and economic growth. [MET/L]

CANADIAN STOCKS TO WATCH

* Bombardier (BBDa.TO) (BBDb.TO): The train maker is set to build a plant in Qatar if it wins a billion-dollar rail contract it is bidding for, a company executive said. [ID:nL5E7LJ0RX]

* TransCanada Corp. (TRP.TO): The pipeline firm has offered a $100 million performance bond and other oil spill protection measures to Nebraska legislators in an attempt to reduce opposition to the company’s proposed $7 billion Keystone XL oil pipeline. [ID:nN2544581]

* Agnico-Eagle Mines (AEM.TO): The gold producer said it is suspending mining operations and production at its Goldex mine in Val d‘Or, Quebec, immediately due to water inflow and ground instability. [ID:nL3E7LJ1GZ]

* Pacific Rubiales PRE.TO: Colombia approved the export of natural gas to Panama and other countries in the Caribbean on Tuesday, expanding an export market that had been limited to Venezuela in order to ensure domestic supply. [ID:nN1E79H203]

* Carpathian Gold Inc. CPN.TO: The company said it temporarily suspended construction at its Riacho dos Machados Gold Project in Brazil due to an unexpected additional review by environmental authorities. [ID:nL3E7LI3IJ]

ANALYST RECOMMENDATIONS

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

* Catch the Wind CTW.V price target cut to C$0.50 from C$0.60 at National Bank

$1= $1.01 Canadian Reporting By Chandra Ramarathnam; Editing by Jeffrey Hodgson

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