CANADA STOCKS-TSX may open higher, gold at fresh high

Wed Sep 29, 2010 8:52am EDT
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 TORONTO, Sept 29 (Reuters) - Toronto's resource-heavy index
could open higher on Wednesday with oil prices higher and gold
rallying to a fresh record high boosted by a weaker U.S.
 * Canadian equity futures <0#SXF:> pointed to a higher
 * U.S. stock index futures edged lower on Wednesday as
investors remained cautious after a September rally but
appeared willing to get into the market on dips. [.N]
 * European shares fell on Wednesday, with investor
uncertainty about the global economic recovery weighing and
retailers slipping as Hennes & Mauritz HMb.ST missed
quarterly profit forecasts. [.EU]
 * Stocks outside Japan rose 0.6 percent, poised for their
biggest monthly gain since July 2009, up 11.8 percent, in what
is historically one of the worst months for stocks.
 * The Thomson Reuters-Jefferies CRB index .CRB, a global
commodities benchmark, fell 0.16 percent in early trade.
 * Oil rose on Wednesday, supported by a weaker dollar,
strong Chinese manufacturing data and a fall in U.S. crude and
winter fuel stocks, easing a surplus that has weighed on the
market for months. [O/R]
 * Gold prices rallied to record highs in Europe on
Wednesday on fears moves by the Federal Reserve to tackle the
sluggish U.S. economy would undermine the dollar, boosting
investment in bullion as an alternative asset.[GOL/]
 * Copper breached the $8,000 level for the first time since
mid-April on Wednesday as weak U.S. data in the previous
session and talk of further quantitative easing by the Federal
Reserve weighed on the dollar. [MET/L]
 * Boralex Inc BLX.TO:  The power producer said 73 percent
of Boralex Power Income Fund BPT_u.TO unitholders favour its
C$227 million takeover offer and it will call a special meeting
to lower the threshold of units required for the deal to go
through. [ID:nSGE68Q0L1]
 * International Tower Hill Mines ITH.TO: The mineral
explorer said it would raise about C$105.4 million to finance
development at its Livengood Gold project in Alaska.
 * Vecima Networks Inc VCM.TO: The communications
equipment maker swung to a quarterly loss for the first time in
22 years, hurt by a strong Canadian dollar, an increase in
research and development costs and lower gross margins.
 Following is a summary of research actions on Canadian
companies reported by Reuters. [RCH/CA]
 * Crocotta Energy CTA.TO price target raised to C$2 from
C$1.80; rating outperform at Raymond James
 * Guyana Goldfields Inc GUY.TO price target raised to
C$12.10 from C$11.35; rating outperform at Raymond James
 * ZCL Composites ZCL.TO rating raised to outperform from
market perform at Raymond James
 ($1=$1.03 Canadian)
 (Reporting by Bangalore newsroom and Jennifer Kwan in Toronto;
Editing by James Dalgleish)