CANADA STOCKS-TSX may open slightly higher, U.S. data eyed

Tue Sep 28, 2010 8:37am EDT
 
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 Sept 28 (Reuters) - Toronto's main stock index looked set
to open slightly higher on Tuesday, in line with U.S. equities,
with traders focused on key U.S. economic data, including a
report on consumer confidence released later in the morning.
 FACTORS TO WATCH
 * Canadian equity futures <0#SXF:> pointed to a higher
open.
 * U.S. stock index futures edged higher as traders looked
ahead to key economic data in another test for the improving
recovery theory that has driven stocks sharply higher this
month. [.N] ECONUS
 * European shares edged lower, with French tyremaker
Michelin (MICP.PA: Quote) down after it unveiled a rights issue,
although losses were limited on talk the ECB was buying
peripheral euro zone government bonds. [.EU]
 * Stocks in Asia were also down with the Nikkei closing
lower 1.1 percent as the deadline passed for investors to
receive dividends on stocks for the financial first half year.
 COMMODITY PRICE MOVES
 * The Thomson Reuters-Jefferies CRB index .CRB, a global
commodities benchmark, fell 0.27 percent in early trade.
 * Oil fell to below $76 a barrel ahead of U.S. reports
expected to show fuel stockpiles rose in the world's top
oil-consuming nation last week. [O/R]
 * Gold fell as a recovery in the U.S. dollar weighed and as
investors took profits after bidding the metal up to a record
$1,300 an ounce in the previous session. [GOL/]
 * Copper slipped as the stronger dollar prompted a flurry
of profit-taking, but strong fundamentals are expected to
underpin prices as the market waits for key data from the
manufacturing sector. [MET/L]
 CANADIAN STOCKS TO WATCH
 * Research In Motion RIM.TO: The company unveiled a
tablet computer "BlackBerry PlayBook" aimed at its core
business customers as it tries to gain a foothold in a
fast-growing market dominated by Apple's consumer-friendly
iPad. [ID:nN27231916]
 * Enbridge Inc. (ENB.TO: Quote): The company resumed pumping crude
through its Line 6B pipeline on Monday, nine weeks after it
ruptured in Michigan, fouling a river system and cutting oil
supplies to U.S. and Canadian refiners. [ID:nN27242332]
 * Intermap Technologies Corp (IMP.TO: Quote): The 3D map maker on
Tuesday said it further slashed 17 percent of its total
workforce to cut costs. [ID:nSGE68R0GS]
 * Guyana Goldfields Inc. (GUY.TO: Quote): The junior gold explorer
said on Tuesday it received environmental approval for its
flagship Aurora Gold project in northern Guyana.
[ID:nSGE68R0GD]
 ANALYST RECOMMENDATIONS
 Following is a summary of research actions on Canadian
companies reported by Reuters. [RCH/CA]
 * North Peace Energy NPE.V price target raised to C$0.25
from C$0.20; rating market perform at Raymond James
 ($1=$1.03 Canadian)
 (Reporting by Bangalore newsroom; Editing by Jeffrey Hodgson)