March 24, 2010 / 12:55 PM / 7 years ago

CANADA STOCKS-TSX may fall as resources, global stocks dip

3 Min Read

TORONTO, March 24 (Reuters) - Toronto's main stock index could fall on Wednesday under pressure from commodity prices, weakened in part on a strong U.S. dollar, and diminished investor confidence as sovereign debt concerns mount.

The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE could follow the softer tone in global equities, with European shares down and the euro falling to a 10-month low against the U.S. dollar after ratings agency Fitch downgraded Portugal, fueling more concerns about the euro zone's stability. [MKTS/GLOB] .MIWD00000PUS [FRX/]

Here is some news that could affect stock prices:


Canadian fund management company AGF Management Ltd (AGFb.TO) reported stronger quarterly earnings on Wednesday, as revenue and assets under management rose, due to improvements in global financial markets. [ID:nN24130972]

Aeterna Zentaris Inc

Aeterna Zentaris Inc said on Wednesday that it returned to a fourth-quarter profit, as the Canadian drugmaker benefited from higher licensing fees and lower research expenses. [ID:nN24137944]


The chief executive of Bank of Montreal says regulatory uncertainty will have lifted enough by the second half of 2010 for the bank to make acquisitions, and that waiting any longer would be a mistake. [ID:nN23102105]


Aboriginal groups on Canada's Pacific Coast vowed on Tuesday to block Enbridge Inc's proposed Northern Gateway pipeline to carry oil sands crude to export markets including China. [ID:nN23100015]

For more stories from the Reuters Oil Sands Summit, please see: [ID:nN22167422]

Oil Falls

Oil fell by more than $1 per barrel to under $81 on Wednesday on concerns over a build-up in U.S. crude stocks, the chance gasoline demand would not stretch supplies and underlying lack of confidence in global recovery. [O/R]

Gold Down

Gold eased below $1,100 an ounce in Europe on Wednesday as the dollar rose nearly 1 percent versus the euro, with persistent worries over the fiscal health of debt-laden Greece weighing on the single currency. [GOL/]


Canadian auto parts maker Martinrea International Inc (MRE.TO) posted a narrower fourth quarter loss on lower charges, and said it expected gross margins to improve in the first quarter. [ID:nSGE62M0LH]

Canada Research


*Macquarie raises FNX price target to C$15 from C$14.50; rating neutral.

*UBS raises FNX price target to C$18.27 from C$16; rating buy.

*RBC cuts to sector perform from outperform.

Desjardins cuts Quadra Mining QUA.TO price target to C$21.55 from C$23.75; keeps buy rating.

Macquarie raises Bombardier (BBDb.TO) price target to C$7.6 from C$7.5; rating outperform.

$1=$1.02 Canadian Reporting by Jennifer Kwan; Editing by Theodore d'Afflisio

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