September 14, 2011 / 12:27 PM / in 6 years

CANADA STOCKS-TSX may open higher on EU common bond optimism

Sept 14 (Reuters) - Toronto's main stock index looked set to open higher on Wednesday as global stocks rose after European Commission said it will soon present options on how the euro zone might issue bonds jointly, seen by some investors as a first step in addressing the region's debt crisis.

FACTORS TO WATCH

* Canadian equity futures <0#SXF:> pointed to a higher open.

* U.S. stock index futures and European shares rose after the head of the European Commission said it will present options for joint euro zone bonds, a tool that might help resolve the region's debt crisis. [.N] [.EU]

* Asian stocks were mixed with Nikkei slipping more than 1 percent to a fresh 2-year closing low ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ To receive an early e-mail of Reuters Morning News Call - Canada -- a preview of market moving news -- Thomson Reuters subscribers can register at [CA/MNC] ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

COMMODITY PRICE MOVES

* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, fell 0.20 percent in early trade.

* Brent crude rose as proposals from the European Commission to issue joint bonds reassured investors hoping for a resolution to the euro zone debt crisis. [O/R]

* Gold eased on Tuesday, taking its cue from the decline on the stock market after a downgrade of the debt of two major French banks because of their holdings of Greek debt. [GOL/]

* Copper slipped as growing unease about the threat of contagion from the euro zone debt crisis and fears Greece could default on its debt prompted a pullback risky assets, with a strong dollar putting additional pressure on the metal. [MET/L]

CANADIAN STOCKS TO WATCH

* Hathor Exploration HAT.TO: The company said its board unanimously recommended that its shareholders reject the C$520 million hostile takeover offer from Cameco Corp (CCO.TO). [ID:nL3E7KE2MQ]

* Timmins Gold Corp TMM.TO: The miner reported a first-quarter profit helped by a rise in gold sales and higher gold prices. [ID:nL3E7KE2NL]

* Nordion Inc. NDN.TO: The supplier of medical isotopes posted a quarterly profit after a year-earlier loss, benefiting from a surge in its core medical isotopes segment, and said it expects a decision on the renewal of its 5-year license of the NRU reactor in Ontario by the end of October. [ID:nS1E78C21A]

* Air Canada ACa.TO ACb.TO: Flight attendants at the company have voted overwhelmingly in favor of a strike, which could start as early as next Wednesday if they cannot agree on a new contract with the country's biggest airline. [ID:nS1E78C1R9]

* First Uranium FIU.TO: The uranium and gold producer said it halted its production at the Ezulwini mine after an accident at its Ezulwini mine that killed a drill operator, the fourth death at the South African mine in the last twelve months and it halted its production at the mine after the accident. [ID:nS1E78C20F]

* Mosaid Technologies Inc. MSD.TO: The patent licensing firm said it sold some of its non-core patents for $11 million to an unnamed buyer. [ID:nL3E7KE2HS]

* Yukon-Nevada Gold Corp. YNG.TO: The gold miner said it will start mining at its Starvation Canyon property in Nevada, USA by January 2013. [ID:nL3E7KE2HI]

* QLT Inc. QLT.TO: The biotechnology company said its experimental drug for retinal diseases got fast-track designation from U.S. health regulators for two genetic disorder-related eye diseases. [ID:nL3E7KE2IX]

* Aeterna Zentaris AEZ.TO: The cancer drug specialist said that a mid-stage trial showed its experimental treatment for advanced endometrial cancer was safe and effective. [ID:nL3E7KE2IS]

ANALYST RECOMMENDATIONS

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

* Contrans Group Inc CSS.TO price target cut to C$8.25 from C$10.50 at National Bank

* First Majestic Silver Corp (FR.TO) price target cut to C$29 from C$30 at CIBC

* Vicwest Inc VIC.TO rating raised to outperform from sector perform at National Bank

$1= $0.99 Canadian Reporting by Shrutee Sarkar; Editing by Jeffrey Hodgson

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below