CANADA STOCKS-TSX could open lower as gold loses lustre

Wed Dec 30, 2009 8:19am EST
 
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 TORONTO, Dec 30 (Reuters) - Toronto's main stock index
could open lower on Wednesday alongside slipping global stock
markets and gold prices in thin end-of-year trading.
 The S&P/TSX composite index .GSPTSE could follow
commodity prices lower as the stronger U.S. dollar takes the
shine off gold. Stock markets in Asia and Europe were also
down, and U.S. stock futures lower, as investors consolidated
gains in what for some was the final trading day of 2009.
[MKTS/GLOB] [.N]
 Toronto's main stock index closed lower on Tuesday,
snapping a four-day winning streak from before the Christmas
break, as gold miners suffered from a slide in the price of
bullion.
 Trading is thin this week as many key players take an
extended holiday break.
 Here is some news that could affect the market:
 GOLD LOWER
 Gold edged down in Europe on Wednesday as a rise in the
value of the U.S. dollar curbed interest in the precious metal
as an alternative asset, and made it a more expensive buy for
other currency holders. [GOL/]
 COPPER HITS 16-MO HIGH
 Copper climbed to a fresh 16-month high above $7,300 on
Wednesday as rising demand expectations for 2010, combined with
strike action in Chile, supported prices. [ID:nLDE5BT0QW]
 OIL STEADY
 Oil held near $79 on Wednesday as cold weather in the
United States and an expected fall in both U.S. crude and
distillate stocks including heating oil countered a firmer
dollar, shoring up prices after a five-day rally. [O/R]
 GOLDCORP RAISES CANPLATS BID
 Canadian gold producer Goldcorp Inc (G.TO: Quote) raised its bid
for junior miner Canplats Resources Corp CPQ.V for the second
time in a week on Tuesday, matching an increased offer from
Minera Penmont and winning support from its takeover target.
[ID:nN29155234]
 PETROCHINA OIL SANDS BID APPROVED
 Canada approved PetroChina's (PTR.N: Quote)(0857.HK: Quote) bid for
control of two oil sands projects, a deal it scrutinized under
recently tightened rules for takeovers of strategic assets by
foreign state-controlled companies. [ID:nN29197881]
 ARCTIC PIPELINE REPORT DUE
 The panel assessing the socioeconomic and environmental
impact of a C$16.2 billion gas pipeline in northern Canada will
issue its long-awaited report on Wednesday. [ID:nN29196884]
 CIENA GETS NORTEL ASSETS
 Canada's industry minister approved Ciena Corp's CIEN.O
$769 million bid for a unit of bankrupt Nortel Networks Inc
NRTLQ.PK and said the deal was likely to be of net benefit
for Canada. [ID:nN29203540]
 CANADA'S RESEARCH ROUNDUP
 * Raymond James raises Corriente Resources CTQ.TO price
target to C$8.60 from C$7; rating Market Perform
[ID:nWNBB4596]
 * Canaccord Adams raises Pure Technologies Ltd PUR.V
target price to C$6.00 from C$4.70; reiterates Buy rating
 * For more research, please see: [CA-RCH]
 ($1=$1.05 Canadian)
 (Reporting by Andrea Hopkins, Editing by Chizu Nomiyama)