CANADA STOCKS-TSX set for lower open as euro deal optimism fades

Fri Oct 28, 2011 9:05am EDT
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 Oct 28 (Reuters) - Canadian stocks looked set to open lower
on Friday after rallying more than 2 percent on Thursday, as
the investor optimism that followed Europe's latest debt crisis
plan began to fade.
 Riskier assets came under slight pressure, with yields
hitting a euro era high at the Italian 10-year bond sale, which
was the first euro zone bond auction since European leaders
agreed their anti-crisis measures. [ID:nL5E7LR3HM]
 * Canadian equity futures <0#SXF:> pointed to a lower
 * U.S. stock index futures fell as investors took profits a
day after a rally that pushed the S&P to close above its
200-day moving average for the first time since August. [.N]
 * European shares edged lower, giving up a small part of
the previous session's strong gains, with Italian stocks lower
after weak demand at a bond auction, serving as a reminder that
the euro zone debt crisis is far from over. [.EU]
 * Asian shares rallied in strong volumes.
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]
 * The Thomson Reuters-Jefferies CRB index .CRB, a global
commodities benchmark, fell 0.54 percent in early trade.
 * Brent crude oil fell more than $1 per barrel to $111 as
investors took another look at the details of a financial
rescue plan for the euro zone, which has helped boost oil
prices this week. [O/R]
 * Gold eased but was still on course for its biggest weekly
rise in two months after the euro zone's last-minute deal on
containing debt crisis buoyed commodities and equities in the
previous session. [GOL/]
 * Copper slipped after a sharp rise in the previous
session, but optimism surrounding Europe's initiatives to
tackle the region's debt crisis and expansion in the U.S.
economy kept the red metal firmly on track for its biggest
weekly gain in nearly three years. [MET/L]
 * Research In Motion RIM.TO: The BlackBerry maker has set
up a facility in Mumbai to help the Indian government carry out
lawful surveillance of its BlackBerry services, the WSJ said,
citing people familiar with the matter. [ID:nL4E7LS00F]
 * Canadian Oil Sands Ltd. COS.TO: Third-quarter profit at
the oil sands producer rose 25 percent on higher oil prices and
increased production. [ID:nN1E79Q23H]
 * Fairfax Financial Holdings FFH.TO: The company said on
Thursday its quarterly profit rose more than 150 percent as the
insurer booked a $1.6 billion gain on investments.
 * RioCan Real Estate Investment Trust REI_u.TO: The REIT
said it would raise C$100 million in a discounted equity
offering to repay its debt. [ID:nL3E7LR3XA]
 * Pembina Pipeline Corp. PPL.TO: The company said it will
build a natural gas liquid extraction, transportation and
storage facility for about C$200 million in west central
Alberta. [ID:nL4E7LS1BH]
 * Inmet Mining IMN.TO: The base metal miner said on
Thursday its third-quarter profit rose about 10 percent, helped
by an increase in production for its copper, zinc and pyrite.
 * Canfor Corp. CFP.TO: The forest products company posted
a narrower-than-expected third-quarter loss and forecast slower
lumber consumption in North America in the fourth quarter.
 * ATS Automation Tooling Systems Inc. ATA.TO: The company
said its French solar manufacturing unit will cut its
production capacity by two-thirds, after it failed to secure a
buyer for the plant. [ID:nL4E7LS1L8]
 * Mosaid Technologies MSD.TO: The patent licensing
company said late on Thursday that it agreed to be bought for
an all-cash offer of C$46 per share by U.S.-based private
equity firm Sterling Partners for C$590 million, which trumped
a hostile bid from rival Wi-Lan Inc WIN.TO for C$532
 * Norbord Inc. NBD.TO: The wood panels maker posted a
smaller third-quarter loss as panel prices held up in Europe
despite the economic uncertainty. [ID:nL4E7LS11Q]
 Following is a summary of research actions on Canadian
companies reported by Reuters. [RCH/CA]
 * Altagas Ltd ALA.TO price target raised to C$28.50 from
C$27.50 at National bank
 * Cogeco Inc CGO.TO rating cut to sector underperformer
from sector performer; price target cut to C$47 from C$45 at
* Lundin Mining Corp LUN.TO price target cut to C$8.00
from C$8.50 at CIBC
* Nexen Inc. NXY.TO price target cut to C$25 from C$27 at
 ($1= $0.99 Canadian)
 (Reporting by Rahul Karunakar; Editing by Jeffrey Hodgson)