June 25, 2010 / 1:06 PM / 7 years ago

CANADA STOCKS-TSX may open lower on soft oil, U.S. data

5 Min Read

June 25 (Reuters) - Toronto's main stock index could open lower on Friday ahead of the weekend G20 meeting, hurt by soft oil prices and data that raised concerns about the global economic recovery.

Wall Street is also set for a softer start as stock futures turned lower after data showing U.S. economic growth was slower than previously estimated in the first quarter, dampening views on a recovery. [.N]

European shares fell, with oil shares featuring among the worst performers. Nikkei led equity market declines in Asia, falling 1.9 percent to close below its 25-day moving average.

Here is some news that could affect stock prices:

Rim Posts Profit, but Blackberry Shipments Disappoint

Research in Motion RIM.TO RIMM.O on Thursday reported a rise in quarterly profit that also topped expectations, but subscriber and shipment figures disappointed investors and rekindled fears that the BlackBerry maker is losing market share to Apple Inc (AAPL.O) and other rivals. [ID:nN21262767]

Oil Slips

Crude slipped on Friday, mainly depressed by ample supply but underpinned by a Caribbean storm which might move towards the Gulf of Mexico, where oil facilities are clustered and BP continues to fight an oil spill. [O/R]

Copper Falls

Copper fell on Friday as investors turned cautious again after mixed data threw the global economic recovery into doubt and ahead of U.S. first-quarter GDP and a summit of Group of 20 countries. [MET/L]

Gold Gets Some Lift

Gold was buoyed on Friday by investors looking for refuge from financial market uncertainty and concerns about currency depreciation as the market waited for the outcome of a G20 meeting. [GOL/]

Encana, Cnpc Look to Canada Shale Jv

Encana Corp (ECA.TO), Canada's largest natural gas producer, and state-owned China National Petroleum Corp, agreed on Thursday to negotiate a joint-venture to develop the Canadian company's shale-gas properties in northern British Columbia. [ID:nN24198120]

Goldcorp Guatemala Mine to Remain Open for Now

Goldcorp Inc's (G.TO) (GG.N) Marlin mine in Guatemala is still operating and the government will need months to comply with a request to suspend operations there due to environmental concerns, the mining ministry said on Thursday. [ID:nN24104817]

Magna Investors Need Info Before Vote-Regulator

Magna International Inc MGa.TO must provide shareholders with more information in order to proceed with a vote on a plan that would pay its founder around $900 million for giving up his controlling shares, a Canadian regulator ruled on Thursday. [ID:nN25235112]

Mds, French Partners Team Up on Diagnostic Agents

MDS Nordion MDS.TO, a Canadian medical diagnostic company, said on Thursday it will work with France's Guerbet (GRBT.PA) and Cyceron in developing new cancer diagnostic agents, the partners said on Thursday. [ID:nN24112370]

Jazz Air Reaches Tentative Deal With Pilots' Union

Jazz Air Income Fund JAZ_u.TO said on Friday it had reached a tentative labor contract with its pilots, represented by the Air Line Pilots Association. [ID:nWNAB1082]

Zimbabwe Probing Purchase of Local Mine-Minister

Zimbabwe is probing New Dawn Mining Corp's ND.TO acquisition of Central African Gold CAN.L, which a top ally of President Robert Mugabe says is against the country's empowerment law, state media reported on Friday. [ID:nLDE65O0LX]

Harry Winston Gets $100 Mln Credit Facility

Harry Winston Diamond Corp HW.TO said on Thursday it completed a $100 million senior secured revolving credit facility with Standard Chartered Bank (STAN.L). [ID:nSGE65N0JT]

Genco Resources Appoints Acting Ceo

Canadian gold and silver mining company Genco Resources Ltd GGC.TO said on Friday it appointed James Anderson, a director and the largest single shareholder of the company, as its new acting chief executive officer with immediate effect. [ID:nSGE65O0CV]

Inscape Posts q4 Profit

Inscape Corp (INQ.TO) on Thursday reported a fourth-quarter profit, helped in part by unrealized gains on foreign exchange. [ID:nWNAB0976]

Research Roundup

Following is a summary of research actions on Canadian companies reported by Reuters. [RCH/CA]

* Research In Motion RIMM.O price target cut to $65 from $70; rating neutral at UBS

* Student Transportation (STB.TO) price target raised to C$5.50 from C$5.25; rating market perform at BMO

$1=$1.04 Canadian Reporting by Bangalore newsroom, editing by Bhaswati Mukhopadhyay and Jeffrey Hodgson

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