CANADA STOCKS-TSX could open lower as commodities weigh

Tue Dec 22, 2009 8:43am EST
 
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 TORONTO, Dec 22 (Reuters) - Toronto's main stock index
could open lower on Tuesday as oil, gold and base metal prices
fell and dragged down shares of energy and mining companies on
the resource-heavy index.
 But the S&P/TSX composite index .GSPTSE may follow world
stocks, which rose for a second day on rising expectations of
U.S. economic recovery, while U.S. stock index futures also
pointed to a higher open. [MKTS/GLOB] [.N]
 Here is some news that could affect the market:
 OIL SLIPS
 Oil prices slipped towards $73 per barrel on Tuesday after
OPEC agreed to roll over its production targets and ahead of
data expected to show a fall in crude and distillate
inventories in the United States. [O/R]
 GOLD, BASE METALS SOFT
 Spot gold prices fell to its lowest since early November on
Tuesday, hampered as the dollar found support against a basket
of currencies. [GOL/]
 Copper fell on Tuesday, in holiday thinned trade, as
traders noted more gains in stockpiles of the metal, a sharp
slide in Chinese equities and the possibility that the U.S.
dollar might continue to rise. [MET/L]
 PARKLAND INCOME FUND PKI_u.TO
 Parkland Income Fund said on Tuesday it is to buy petroleum
distributor Bluewave Energy Limited Partnership for C$214
million, making it the largest independent fuel distributor in
Canada. [ID:nSGE5BL070]
 CANADA BANKS TO PAY C$139 MLN IN ABCP SETTLEMENT
 A group of Canadian banks and brokerages will pay about
C$139 million in penalties for allowing investors to buy
asset-backed commercial paper that traded in a market that
seized up during the U.S. subprime credit crisis.
[ID:nN21258531]
 C A BANCORP INC BKP.TO
 C. A. Bancorp Inc board of directors unanimously
recommended shareholders to reject Maxam's hostile take-over
bid and said Maxam's offer is financially inadequate.
[ID:nWNBB3611]          
 CANADA'S RESEARCH ROUNDUP
 *Blackmont Capital initiated coverage of four Canadian gold
mining companies, including Rubicon Minerals Corp (RMX.TO: Quote).
[ID:nSGE5BL0D9]
 *RBC cuts IAMGOLD Corp (IMG.TO: Quote) price target to C$20 from
C$21; rating sector perform.
 For more research, please see: [CA-RCH]
 (Reporting by Irene Kuan; Editing by Chizu Nomiyama)