CANADA STOCKS-TSX could follow resources to higher start

Tue Oct 27, 2009 8:25am EDT
 
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 TORONTO, Oct 27 (Reuters) - Toronto's main stock index
could open higher on Tuesday as a rebound in prices for gold
and oil may offer an early boost to the resource-heavy index.
 And with the TSX coming off a skid of more than 1 percent
in the previous session, investors may be tempted to snap up
reduced shares and add key names to their portfolios with just
four sessions left before the end of October.
 But any move higher may be held in check as U.S. futures
cut earlier gains as investors took in the latest round of
corporate results there. Also, emerging markets and Japanese
shares fell overnight, which could effect sentiment in North
America. [ID:nLR27979]
 The S&P/TSX composite index .GSPTSE fell 147.25 points,
or 1.29 percent, to 11,234.88 on Monday.
 Here is some news that could affect the market:
 ROGERS COMMUNICATIONS INC (RCIb.TO: Quote)
 Rogers Communications Inc posted a dip in quarterly profit
that still beat expectations on Tuesday and said subscribers
snapped up smartphones like Research In Motion's
RIM.TORIMM.O BlackBerry and Apple's (AAPL.O: Quote) iPhone despite
the recession. [ID:nN26193953]
 KINROSS (K.TO: Quote)
 Canadian gold miner Kinross lowered its full-year 2009
production outlook and raised its average cost of sales
estimate, as the company's production ramp-up at its Paracatu
mine in Brazil is progressing more slowly than expected.
[ID:nN27230566]
 QLT INC QLT.TO
 Canadian eye care company QLT Inc reported lower
third-quarter profit on Tuesday and said it would record a
fourth-quarter gain of more than $100 million from the sale of
its QLT USA division. [ID:nN2720510]
 VITRAN CORP INC VTN.TO
 North American transportation company Vitran Corp Inc
VTNC.O reported an 86 percent drop in quarterly profit on
Tuesday, hurt by fluctuation in fuel surcharge and foreign
exchange on the company's Canadian operations. [ID:nN26539414]
 BALLARD POWER SYSTEMS (BLD.TO: Quote)
 Canadian hydrogen fuel-cell developer Ballard Power Systems
posted a narrower quarterly loss, helped by lower operating
costs and expects full-year revenue to come in at the low end
of a previously stated range. [ID:nBNG49035]
 INDIGO BOOKS & MUSIC (IDG.TO: Quote)
 Indigo Books & Music, Canada's biggest book retailer,
posted a drop in quarterly profit on Monday as it dealt with a
tough economy and continued to invest in its mobile-phone
download business. [ID:nN26206892]
 GOLD REBOUNDS
 Gold prices rallied from three-week lows in Europe on
Tuesday, with the metal's appeal to investors enhanced as the
dollar resumed its broad decline against a basket of major
currencies. [GOL/]
 OIL REVERSES SKID
 Oil rose above $79 a barrel on Tuesday, up after three
straight days of decline as investors awaited new leads from
equities markets and weekly crude inventory data from the
United States. [O/R]
 RESEARCH ROUNDUP:
 Following is a summary of research actions on Canadian
companies reported by Reuters. For more, please double click
[RCH/CA]
 * UBS cuts Kinross Gold (K.TO: Quote) price target by 7.4 percent
to C$25 with "buy" rating.
 * Macquarie raises TrsansCanada (TRP.TO: Quote) price target 2.8
percent to C$36.
 ($1=$1.07 Canadian)
 (Reporting by Frank Pingue; Editing by Theodore d'Afflisio)