Oct 28 (Reuters) - Canadian stocks could open higher on Thursday as corporate earnings fueled optimism and commodity prices rose on falling U.S. dollar.
* Canadian equity futures <0#SXF:> pointed to a higher open.
* The Canadian dollar firmed against its U.S. counterpart on Thursday with the greenback giving back some of the gains made earlier this week as a short-covering rally fizzled and U.S. Treasury yields fell. [CAD/]
* U.S. stocks rose modestly on Thursday as the dollar slipped with investors adjusting expectations of further monetary stimulus, while data on the labor market was due later in the morning. [.N]
* European stocks were up around midday on Thursday, led by shares of telecom and oil companies after solid results from France Telecom, Royal Dutch Shell and Eni. [.EU]
* Asian stocks steadied after their biggest one-day fall in four months, while the yen held firm against a broadly weaker dollar, taking details of the Bank of Japan’s stimulus plan in its stride.
* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, rose 0.47 percent in early trade.
* Oil prices edged up on Thursday supported by forecast-beating profits from Royal Dutch Shell and Italy’s Eni, as investors awaited U.S. weekly jobless data due later. [O/R]
* Gold rose back towards $1,330 an ounce in Europe on Thursday as fresh dollar weakness reversed the previous session’s decline, but trading was cautious ahead of Federal Reserve talks on monetary easing next week. [GOL/]
* Copper rose on Thursday as the dollar slipped, with investors awaiting next week’s key U.S. Federal Reserve talks on monetary easing and as the prospect of a mine strike in Chile lent support to the metal. [MET/L]
* Barrick Gold (ABX.TO): The world’s top gold miner on Thursday reported a 75 percent increase in its third-quarter profit, as strong bullion prices boosted earnings. [ID:nN28108425]
*Potash Corp (POT.TO) posted a 62 percent rise in quarterly earnings on Thursday, far surpassing forecasts, as a run-up in grain prices spurred robust demand for fertilizer from the world’s No.1 supplier.
*Celestica Inc (CLS.TO): The contract electronics maker posted a third-quarter profit that trailed estimates, hurt by lower demand, but said it expects revenue to rise in the current quarter. [ID:nSGE69R0IO]
*Goldcorp Inc. (G.TO): The gold miner reported solid quarterly profits on Wednesday, on record bullion prices. Goldcorp reported a 65 percent increase in third-quarter earnings and doubled its annual dividend payout. [ID:nN27265533]
*Thomson Reuters Corp. (TRI.TO): The news and data provider on Thursday raised its full-year revenue forecast after third-quarter revenue in its Markets division, which serves banks and other financial institutions, rose for the first time in nearly two years. [ID:nN25279353]
*Agnico-Eagle Mines (AEM.TO): The gold miner reported solid quarterly profits on Wednesday, on record bullion prices. Agnico jumped to a third-quarter profit from a year-ago loss, when its results were hurt by a foreign exchange-related charge and production issues at its new mines. [ID:nN27265533]
*Husky Energy Corp. (HSE.TO): The company said an equipment failure led to acid gas flaring at its 150,000 barrel-per-day refinery in Lima, Ohio, according to a filing with regulators. [ID:nWNAB7510]
*Macdonald Dettwiler and Associates MDA.TO: the Canadian satellite and data distribution company said on Wednesday its net profit jumped 34 percent in the third quarter and that it had a strong order backlog. [ID:nN27145146]
*Onex Corp OCX.TO: The leading private equity firm said on Wednesday it expected to raise up to C$300 million with the initial public offering of its high-yield debt fund, known as the OCP Senior Credit Fund. [ID:nN27264431]
*Opti Canada Inc OPC.TO: The company posted a third-quarter loss, hurt in part by a 23 percent rise in operating expenses due to planned well work-overs and increased operating levels. [ID:nSGE69Q0N4]
*RioCan Real Estate Investment Trust (REI_u.TO): The company’s quarterly funds from operations beat market estimates by a cent, helped by the acquisitions it made in the quarter. [ID:nSGE69Q0N7]
*Nexen Inc. NXY.TO: The independent oil producer posted a four-fold jump in quarterly profit, helped by sales of its non-core assets in Canada and the United States, and said it plans to generate about US$1.5 billion in asset sales in the next 12 months. [ID:nSGE69R0HM]
Following is a summary of research actions on Canadian companies reported by Reuters. [RCH/CA]
* Firstservice (FSV.TO) target price raised to $27 from $25; rating market perform at Raymond James
* Paladin Energy PDN.TO target price cut to C$5 from C$5.10; rating outperform at Raymond James
($1= $1.02 Canadian)
Reporting by Bangalore Newsroom