December 15, 2010 / 1:25 PM / 7 years ago

CANADA STOCKS- TSX may open lower on falling commodity prices

Dec 15 (Reuters) - Toronto’s stock index futures pointed to a slightly lower open on Wednesday as commodity prices fell and other international markets lost ground.

FACTORS TO WATCH

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

* Wall Street is expected to open mixed on Wednesday as some traders might be apprehensive about taking fresh positions on Federal Reserve’s tempered economic outlook and year-end book closure pressure. [.N]

* European stocks receded, halting a brisk two-week rally after Moody’s put Spain on review for a possible downgrade, reviving euro-zone debt jitters and dragging down the euro. [.EU]

* Asian markets closed flat to lower, with Japan’s Nikkei holding on to gains after hitting a seven-month closing high the day before.

COMMODITY PRICE MOVES

* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, fell 0.55 percent in early trade.

* U.S. crude oil futures CLc1 fell by more than $1 a barrel on Wednesday, a day after the U.S. Federal Reserve dampened hopes of a rapid recovery in the world’s largest consuming oil nation. [O/R]

* Gold eased below $1,390 an ounce in Europe on Wednesday as the dollar rose broadly, with the euro coming under selling pressure as ratings agency Moody’s put Spain’s AA1 rating on review for a possible downgrade. [GOL/]

* Base metals fell on Wednesday with copper easing from a record high hit in the previous session as a stronger dollar weighed, although the red metal remained underpinned by strong demand prospects. [MET/L]

CANADIAN STOCKS TO WATCH

* Agrium Inc. (AGU.TO): The retailer on Tuesday said it had agreed to sell its AWB commodity management business, which it bought as part of its $1.1 billion acquisition of Australia’s AWB earlier this year, to Cargill Inc. [ID:nSGE6BE062]

* Dundee Real Estate Investment Trust (D_u.TO): The investment trust on Tuesday said it will buy Realex Properties Corp (RP) for C$154.4 million in cash.[ID:nSGE6BE02U]

* TransAlta Corp. (TA.TO): The company’s 401-megawatt Unit 6 at the Sundance coal-fired power plant in Alberta shut Tuesday evening, the Alberta Electric System Operator said in a report. [ID:nSGE6BE003]

* Rainy River Resources Ltd. RR.V: The precious metals explorer on Tuesday said it will raise C$65 million in a bought deal offering, mainly to advance its Rainy River gold project in Northwestern Ontario. The company said it will issue about 5.14 million shares at C$12.65 each to underwriters led by Scotia Capital. [ID:nSGE6BD0DU]

($1= $1.00 Canadian)

Reporting by Kishan Nair and Bangalore Newsroom

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