CANADA STOCKS-TSX seen falling as Dubai fears, commodities drag

Fri Nov 27, 2009 8:40am EST
 
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 TORONTO, Nov 27 (Reuters) - Toronto's main stock index is
expected to open lower on Friday as pressures on commodity
prices stemming from debt concerns in Dubai weigh for a second
straight session.
 U.S. stock index futures were also sharply lower, a day
after markets were shut for the U.S. Thanksgiving holiday.
Volume may be thin in both markets as the U.S. session is
shortened, and may exacerbate movements on the market.
 The S&P/TSX composite index .GSPTSE finished down 200.10
points, or 1.72 percent, at 11,436.80 on Thursday, as debt
concerns in Dubai and job cuts at two of Canada's best-known
companies heightened anxiety about the stability of the
economic recovery.
 Here is some of the news that may affect the market.
 DUBAI
 Dubai struggled to ease fears about a potential debt
default after its move to delay repayments at two flagship
firms shook confidence in the Middle East as a centre for
investment and a source of capital. [ID:nGEE5AQ085]
 COMMODITIES
 Gold prices tumbled nearly 5 percent to a one-week low
below $1,140 an ounce as investors fearing debt default in
Dubai sought safety in dollars and cash. Other precious metals
also slipped. [GOL]
 Oil prices sank to six-week lows below $75 a barrel. [O/R]
 * See also: Proposed Canadian law would police miners
abroad [ID:nN25360229]
 BLACK FRIDAY
 Market players will try to gauge U.S. consumer spending on
"Black Friday," the day after U.S. Thanksgiving, which is often
the single busiest shopping day of the crucial holiday season
with many retailers offering big sales. Consumer spending
accounts for about 70 percent of the U.S. economy.
[ID:nN26200289]
 RESEARCH ROUNDUP
 Following is a summary of research actions on Canadian
companies reported by Reuters on Friday. [RCH/CA]
 * Scotia raises Alimentation Couche Tard ATDb.TO price
target
 * RBC cuts AltaGas Income Trust ALA_u.TO to sector
perform from outperform
 ($1=$1.07 Canadian)
 (Reporting by Ka Yan Ng, Editing by Chizu Nomiyama)
 ((kayan.ng@thomsonreuters.com; Reuters Messaging:
kayan.ng.reuters.com@reuters.net; 416-941-8109))
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FOR CANADIAN MARKETS NEWS, CLICK ON CODES IN BRACKETS:
TSX market report..........[.TO]
Canadian dollar and bonds report....[CAD/][CA/]
Top News: Canada ......[TOP/CAN]
Today in Canada.......[CA/DIARY]
Canadian company news .. [E-CAN]
Reuters global stocks poll (Canada)...EQUITYPOLL5 [EPOLL/CA]
FOR CANADIAN MARKETS DATA, CLICK ON CODES IN BRACKETS:
Canadian Equities speed guide.......<CA/EQUITY>
S&P/TSX Composite index ...............GSPTSE
S&P/TSE Venture composite index .......SPCDNX
TSX most active..........AV.TO
Venture Exchange most active.............AV.V
Top TSX pct gainers......PG.TO
Top TSX pct losers.......PL.TO
S&P/TSX 60 index ........TSE60
52 week highs:
 TSX...............t.YH.TO  Venture..............t.YH.V
52 week lows:
 TSX...............t.YL.TO  Venture..............t.YL.V
Canadian dollar quote......CAD=CAD=D3=CAD
FOR MAIN GLOBAL MARKET DATA AND MARKET REPORTS:
  FTSE EUROTOP 300 ......FTEU3  EUROPEAN REPORT .......[.EU]
  Nikkei 225..............N225  Tokyo report............[.T]
  FTSE 100................FTSE  London report...........[.L]
  Xetra DAX..............GDAXI  Frankfurt market stories[.F]
  CAC-40...FCHI  Paris market stories...[.PA]
  World Indices.......<0#.INDEX>
  Foreign exchange........[FRX/]
  Oil.......[O/R]
  US Treasuries............[US/]
  International bonds.....[EUB/]
  Gold.........[GOL/X] or [GOL/]
  CRB index of commodity futures.........[CRB/]