CANADA STOCKS-TSX may open lower as euro zone debt fears grow

Tue Nov 15, 2011 8:46am EST
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 Nov 15 (Reuters) - Toronto's resource-heavy main stock
index looked set to open lower on Tuesday, hurt by falling
commodity prices as uncertainties about Europe's debt revived
worries about the global economy.
 * Canadian equity futures <0#SXF:> pointed to a lower
 * U.S. stock index futures fell, extending a drop in global
equities, as doubts about the ability of Europe to tackle its
debt crisis sent Italy's bond yields back into a perceived
danger zone. [.N]
 * European stocks fell, adding to the previous session's
decline, with banks among the biggest losers as investors saw
euro zone bond yields rising to alarming levels, and worried
that policymakers were unable to stem the trend. [.EU]
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subscribers can register at [CA/MNC]
 * The Thomson Reuters-Jefferies CRB index .CRB, a global
commodities benchmark, fell 0.03 percent in early trade.
 * Brent crude was little changed after solid German and
French growth data but worries over the outlook for euro zone
deepened as debt yields rose and austerity measures threatened
to tip the bloc into recession. [O/R]
 * Gold fell, hit by a sell-off in financial markets and a
drop in the euro against the dollar, with persistent doubts
about Europe's ability to tackle its growing debt crisis
prompting investors to remain cautious. [GOL/]
 * Copper fell about 1 percent as prospects for demand
remained gloomy amid renewed doubts that Italy and Greece will
be able to successfully tackle their debt and convince the bond
markets to lend to them at reasonable rates. [MET/L]
 * Bombardier Inc. BBDa.TO BBDb.TO:  Turkey's Atlasjet
has signed a letter of intent to buy 10 Bombardier CS300
jetliners at a price of $776 million, the planemaker said.
 * Sears Canada SCC.TO: The retailer posted a
third-quarter loss, hurt by excess inventories and
restructuring costs. [ID:nL3E7MF1MY]
 * Suncor Energy Inc. SU.TO: The oil and gas company said
on Monday it resumed normal operations at the 50,000
barrel-a-day Terra Nova field off Newfoundland following a
four-week maintenance shutdown. [ID:nN1E7AD1P4]
 * Sino-Forest Corp TRE.TO: The Chinese timber firm listed
in Toronto, said an independent committee found no evidence of
fraud at the company, whose share price has been savaged this
year following allegations by short-seller Muddy Waters.
 * Hathor Exploration HAT.TO: Rio Tinto is unlikely to
walk away from a bidding war for uranium developer, investors
said, after rival bidder Cameco Corp trumped the global miner
with a C$625 million offer [ID:nL3E7MF0IO]
 * Alliance Grain Traders Inc. AGT.TO: The company posted
a massive rise in quarterly adjusted earnings, as the staple
food and pulse processor took advantage of increased crop
supply, and said it expects the positive export trends to
continue into next year. [ID:nL3E7ME28L]
 * Azure Dynamics AZD.TO: The company posted a wider
third-quarter net loss on higher cost of sales, and the auto
component maker said it expects revenue for the year to be at
the lower-end of the forecast range.[ID:nL3E7ME268]
 * Great Panther Silver GPR.TO: The company posted a
higher third-quarter net profit, and the Canadian miner, which
operates mainly in Mexico, expects output in the fourth quarter
to rise 14 percent over the current period. [ID:nL3E7ME272]
 * Canacol Energy CNE.TO: The oil company posted a
first-quarter profit, helped by a rise in average daily sales
volumes. [ID:nL3E7MF1IK]
 * Catalyst Paper CTL.TO: The company posted a
narrower-than-expected adjusted net loss in the third quarter
on higher sales and improved paper prices. [ID:nL3E7ME29B]
 Following is a summary of research actions on Canadian
companies reported by Reuters. [RCH/CA]
 * Ag Growth International Inc AFN.TO price target cut to
C$32 from C$34 at NBF
 * Algonquin Power & Utilities Corp AQN.TO rating raised
to buy from hold at Salman Partners
 * Enerplus Corp ERF.TO price target cut to C$30.50 from
C$31.50 at CIBC  
 * Nevsun Resources Ltd NSU.TO price target cut to C$8
from C$8.50 at CIBC 
 * Trilogy Energy Corp TET.TO price target raised to C$40
from C$38 at CIBC  
 * Vero Energy Inc VRO.TO price target cut to C$5 from C$6
at NBF; price target cut to C$6.50 from C$7.50 at CIBC
 ($1= $1.02 Canadian)
 (Reporting by Shivaprasanna Hebbar; Editing by Jeffrey