March 31, 2010 / 11:51 AM / 7 years ago

CANADA STOCKS-TSX may open higher on IPOs, RIM awaited

4 Min Read

TORONTO, March 31 (Reuters) - Canada's main stock market index may open higher on Wednesday as strong commodity prices and a pair of initial public offerings prop up the Toronto Stock Exchange.

Technology shares could also be in focus as investors await quarterly results from BlackBerry maker Research In Motion RIM.TO RIMM.O after the market closes.

Toronto's main stock index went for a wobbly ride on Tuesday and ended slightly higher as gains in its heavyweight energy and financial sectors were offset by weaker gold and technology shares.[ID:nN30171846]

Here is some news that could affect stock prices:


Athabasca Oil Sands Corp said on Tuesday it will raise at least C$1.35 billion ($1.32 billion) in North America's biggest initial public offering so far this year, a clear sign investor interest in Canadian oil sand assets has rebounded. [ID:nN30177984]

Rim Results

Research In Motion is expected to report this week it sold a whopping 11 million BlackBerries in its latest quarter, which may offset the impact of falling prices and narrower profit margins.[ID:nN26149172]

Gold Rises

Gold rose on Wednesday as the dollar slipped against major currencies and strong investment demand boosted sentiment, but prices are expected to be capped by technical resistance. [ID:nLDE62U10R]

u.s Crude Oil

Oil traded above $82 on Wednesday, heading for its fifth consecutive quarterly gain as markets awaited U.S. crude inventory data later in the day. [ID:nSGE62U05S]

Canadian Natural Resources

Canadian Natural Resources Ltd (CNQ.TO) said on Tuesday it expects oil sands output at its C$9.7 billion ($9.5 billion) Horizon project will climb to near capacity volume this month after a series of mechanical problems.[ID:nN30174327]

Mitel Networks Ipo

Canada's Mitel Networks Corp, a provider of integrated communications solutions, filed with U.S. regulators on Tuesday to raise up to $180 million in an initial public offering of common stock.[ID:nSGE62T0KB]

Sun Life Financial

Sun Life Financial (SLF.TO), Canada's No. 2 life insurer, said on Tuesday its chief executive saw his total compensation slashed by 42 percent in 2009 after he gave up his bonus for a second year in a row.[ID:nN30170964]

u.s Equities Holdings

U.S. fund managers slightly decreased their high exposure to equities in March and raised their bond allocations on signs the economic recovery continues to be slow-moving, a Reuters poll showed on Wednesday.[ID:nN30162918]

Premium Brands

Canadian food products maker Premium Brands Holdings Corp (PBH.TO) said it will acquire an 80 percent interest in Vancouver-based Duso's Enterprises Ltd for about C$5.6 million ($5.5 million).[ID:nSGE62U0FI]

Research Roundup

Following is a summary of research actions on Canadian companies reported by Reuters on Wednesday. [RCH/CA]

* UBS raises Teck Resources TCKb.TO price target to C$50.50 from C$44; Rating Buy

* Exane BNP Paribas starts Research In Motion RIMM.O with Outperform Rating; Price target of $90

* Raymond James cuts Denison Mines (DML.TO) price target to C$2.50 from C$3.30; Rating Strong Buy ($1=$1.02 Canadian) (Reporting by Scott Anderson, Editing by Chizu Nomiyama)

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