CANADA STOCKS-TSX could open higher on global rally
TORONTO, Dec 29 (Reuters) - Toronto's main stock index could open higher on Tuesday, catching up to a global stocks rally after a four-day pause in trading for the holidays.
The S&P/TSX composite index .GSPTSE could follow world markets, which have rallied as the end of the year approaches and investors put worries about a major world financial collapse behind them. U.S. stock index futures also pointed to a stronger open. [MKTS/GLOB] [.N]
Toronto's main stock index last traded on Dec. 24 and volume is expected to be light through the three-day week as many market players are on holiday between Christmas and New Year's.
Here is some news that could affect the market:
Gold was little changed on Tuesday around $1,105 an ounce due to low investor liquidity but U.S. dollar weakness and expectations of stronger buying in the new year were set to support bullion prices. [GOL/]
COPPER AT 15-MO HIGH
Copper rose nearly 3 percent on Tuesday to hit its highest in more than 15 months, lifted by looming industrial action in one of the world's top copper mines in Chile. Other metals tracked copper's gains. [ID:nLDE5BS0JH]
Oil traded flat at below $79 a barrel, off a five-week high the previous session, as a firming dollar offset colder U.S. weather and concerns over political developments in Iran. [O/R]
Canada's International Royalty Corp IRC.TO said on Tuesday Royal Gold's (RGLD.O: Quote) C$749 million ($719.5 million) offer to buy the company is superior to Franco-Nevada's (FNV.TO: Quote) unsolicited bid. [ID:nSGE5BS0AM]
Metals explorer Corriente Resources Inc CTQ.TO said China's CRCC-Tongguan Investment Co Ltd agreed to buy all of its outstanding shares in a deal worth about C$679 million.
CANADA'S RESEARCH ROUNDUP
* Roth Capital Partners raised Actuate Corp ACTU.O to "buy" from "hold," saying it is upbeat on the software maker's recent deal with Canada's Xenos Group Inc XNS.TO, sending its shares up as much as 15 percent. [ID:nSGE5BR08N]
* On Dec. 28, 2009, Standard & Poor's Ratings Services withdrew its ratings on Mississauga, Ont.-based IMAX Corp, at the company's request. [ID:nSPWch8VQP]
* For more research, please see: [CA-RCH]
(Reporting by Andrea Hopkins, Editing by Chizu Nomiyama)
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