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June 11 (Reuters) - Toronto's main stock index could open little changed on Friday, as oil prices receded but copper and gold rose, and European stocks set a positive tone.
Stocks could get a boost from economic data released before the bell. Strong manufacturing growth drove a record jump in industrial capacity use in the first quarter, Statistics Canada reported, though factories were still operating at well below the peak reached in early 2007.[nN11107657]
European shares rose for the third day with drugmakers among the top performers. Asian stocks were up with the Nikkei gaining 1.7 percent.
Here is some news that could affect stock prices:
Oil prices fell below $75 a barrel on Friday after gaining about 5 percent this week as investors weighed prospects that the European debt crisis could slow fuel demand growth even in emerging markets such as China. [O/R]
Copper reversed earlier losses to hit a one-week high on Friday as improving sentiment on economic growth supported prices, while investors mulled over mixed data from top metals consumer China. [MET/L]
Gold firmed in Europe as price-sensitive investors took advantage of the previous day's losses to buy into the market, with underlying concerns over European sovereign debt levels still underpinning prices. [GOL/]
Patheon Inc PTI.TO on Friday posted a quarterly profit that topped estimates, helped by a weak U.S. dollar and said it continues to expect 2010 revenue to be higher from the prior year. [ID:nSGE65A0E4]
Canadian patent licensing firm Mosaid Technologies Inc MSD.TO on Thursday posted a 43 percent rise in quarterly profit, helped partly by a foreign exchange gain. [ID:nSGE6590KD]
US Geothermal Inc, a green power developer on Thursday said it was offered a $102.2 million loan guarantee by the U.S. Department of Energy to build its 22-megawatt Neal Hot Springs project. [ID:nN10246772]
Following is a summary of research actions on Canadian companies reported by Reuters. [RCH/CA]
Note: All values in RESEARCH ROUNDUP in Canadian currency, unless otherwise stated.
* Dollarama Inc (DOL.TO) raised to $31 from $27; rating outperform at Raymond James
* GLV Inc GLVa.TO cut to $11 from $12, rating strong buy rating at Raymond James
* Newalta Corp (NAL.TO) started with buy rating; price target $12.80 at Versant
* North American Energy Partners Inc (NOA.TO) cut to outperform from strong buy at Raymond James. Raised to $12 from $11; rating buy at UBS
* San Gold Corp SGR.V raised to $5.20 from $4.75, rating outperform at Raymond James
* Transat AT Inc TRZb.TO raised to $20 from $18; rating outperform at Macquarie ($1=$1.031 Canadian) (Reporting by Bangalore newsroom, editing by Ashutosh Joshi and Frank McGurty)