CANADA STOCKS-TSX could edge higher as oil, metals climb
TORONTO, Dec 21 (Reuters) - Toronto's main stock index could open slightly higher on Monday as oil and metals prices climbed, lifting shares of the index's key energy and mining sectors.
The S&P/TSX composite index .GSPTSE could follow global equities higher, led by bank shares, while the euro sagged against the greenback on concerns over Greece's fiscal health and expectations the U.S. economy may recovery faster than the euro zone. U.S. stock index futures also pointed to a slightly higher open. [MKTS/GLOB] [.N]
Here is some news that could affect the market:
AGRIUM INC (AGU.TO: Quote)
Canadian fertilizer producer Agrium Inc extended its offer on Monday for CF Industries and said it was sure it had the money needed to complete the purchase. [ID:nWNBB3250]
VERENEX ENERGY INC VNX.TO
Verenex Energy and Libyan Investment Authority agreed on a working capital amount of $0.1976 per share. [ID:nWNBB3274]
IAMGOLD posted on Monday an updated preliminary assessment study on its Westwood project and expects capital expenditures of $102 million in 2010. [ID:nWNBB3262]
CANADA REGULATORS TO REVIEW ABCP SETTLEMENTS
Canadian regulators will hold hearings on Monday regarding settlements being negotiated with five banks or brokerages that sold asset-backed commercial paper before the market in Canada froze because of the U.S. subprime credit crisis. [ID:nN18228055]
OIL PRICES FIRM
Oil prices held firm above $73 a barrel on Monday after a 1 percent rise in the previous session as Iranian troops partly withdrew from a disputed oil area in Iraq, easing tensions between two major crude exporters. [O/R]
Gold prices edged up on Monday after recent multiweek lows, but gains were capped because of the strength in the U.S. dollar, which hovered near three-month highs. [GOL/]
BAY STREET: CANADIAN AUTO PARTS MAKERS POISED FOR GREEN GAINS
A push by U.S. automakers to build more fuel efficient vehicles is playing to a strength of Canada's auto parts makers and positions them to pick up market share as the industry emerges from recession. [ID:nN18239828]
ENERPLUS RESOURCES FUND ERF_u.TO
Enerplus Resources Fund, which pioneered the Canadian energy trust model more than two decades ago, is poised to accelerate its push for growth as its switch to a tax-paying corporation looms, the trust's chief executive said on Friday. [ID:nN18234794]
CANADA'S RESEARCH ROUNDUP
*Goldman Sachs adds Potash Corp (POT.N: Quote) to conviction buy list. [ID:nSGE5BK0D]
Canaccord Adams raises Enbridge Inc (ENB.TO: Quote) price target to C$50 from C$48; rating hold.
For more research, please see: [CA-RCH] ($1=$1.06 Canadian) (Reporting by Irene Kuan; Editing by Padraic Cassidy)
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