November 7, 2011 / 1:28 PM / 6 years ago

TSX may open lower as euro concerns spread to Italy

(Reuters) - Toronto’s main stock index looked set to open lower on Monday on concern that the euro zone debt crisis could engulf Italy, overshadowing a government coalition deal in Greece that could help secure its latest bailout package.


* Canadian equity futures pointed to a lower open.

* U.S. stock index futures fell as political turmoil in Italy sparked worry the euro zone debt crisis could consume the region’s third largest economy..N

* European stocks pared losses on intensifying market talk that Italian Prime Minister Silvio Berlusconi could resign soon, easing fears over the country’s ability to deal with its debt pile. .EU


* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, rose 0.25 percent in early trade.

* Brent crude oil rose above $112 a barrel on hopes political settlements in Greece and Italy could help resolve the euro zone debt crisis and minimize the chances of a further slowdown in global economic growth

* Gold rose more than 1 percent as investors piled into the traditional safe haven asset as Europe’s debt crisis intensified on concerns about political instability in Italy and Greece.

* Copper fell nearly 2 percent, with investors struggling to see better demand prospects as economic and political difficulties in Greece and Italy fueled concern that Europe’s debt crisis is unraveling.


* Vermilion Energy Inc. VET.TO: The oil and gas company’s quarterly profit more than doubled helped by higher oil and natural gas production from its Australian properties.

* Ensign Energy Services Inc. ESI.TO: The oilfield services provider’s third-quarter net profit nearly doubled, helped by a strong demand for oilfield services.

* Yukon-Nevada Gold Corp. YNG.TO: The company said its quarterly loss narrowed as it gained from warrants.


Following is a summary of research actions on Canadian companies reported by Reuters.

* Air Canada ACa.TO: price target cut to C$1.80 from C$2 at National Bank Financial

* Canadian REIT REF_u.TO: price target raised to C$37.50 from C$35.00 at CIBC

* Centerra Gold Inc CG.TO: price target cut to C$33 from C$34 at CIBC

* Constellation Software Inc CSU.TO: price target raised to C$79.50 from C$76 at CIBC

* Flint Energy Services Ltd FES.TO: price target raised to C$18.00 from C$15.50 at CIBC

* Miranda Technologies Inc MT.TO: price target raised to C$12 from C$8 at CIBC

* Open Range Energy Corp ONR.TO: price target cut to C$4 from C$13.50 at National Bank Financial

* SNC Lavalin Group Inc SNC.TO: price target raised to C$64 from C$62 at CIBC

* Trinidad Drilling Ltd TDG.TO: price target raised to C$10.00 from C$9.50 at CIBC ($1= $1.02 Canadian)

Reporting by Karan Khemani

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