March 28, 2013 / 12:27 PM / 6 years ago

CANADA STOCKS-TSX may open higher, eye on volatile BlackBerry

March 28 (Reuters) - Canada's main stock index looked set to
open higher on Thursday as Cyprus banks reopened after two weeks
with tight restrictions on withdrawals, though volatile moves in
shares of BlackBerry were expected to have a heavy
    Shares of smartphone maker BlackBerry swung between positive
and negative territory in pre-market trading after it revealed
an unexpected quarterly profit on demand for the new touchscreen
device that holds the key to its successful turnaround. But its
revenue remained far below year-earlier levels. 
    * Cypriots are expected to descend in their thousands on
banks, which reopen with tight controls imposed on transactions
to prevent fleeing depositors from cleaning out the vaults in a
catastrophic bank run. 
    * Germans are spending more on retail goods as unemployment
remains close to a post-reunification low in Europe's largest
economy, data showed, suggesting private consumption will buoy
growth this year as exports weaken.  
    * Suncor Energy Inc said on Wednesday it scrapped
its long-delayed and partially built Voyageur oil sands
upgrading plant in northern Alberta as competition in the North
Dakota Bakken region cut potential returns from the
multibillion-dollar venture. 
    * Total will book a $1.65 billion first-quarter loss on its
withdrawal from a long-delayed oil sands project in Canada, it
said on Thursday, a day after partner Suncor pulled the
plug on the plant citing lower potential returns.MARKET SNAPSHOT 
    * Canada stock futures traded up 0.11 percent
    * U.S. stock futures , , were up
around 0.11 and 0.19 percent 
    * European shares, were up 

    * Thomson Reuters-Jefferies CRB Index : 298.7204;
rose 0.01 percent
    * Gold futures : $1,600.4; fell 0.36 percent 
    * US crude : $96.77; rose 0.2 percent 
    * Brent crude : $109.79; rose 0.09 percent 
    * LME 3-month copper : $7,641.5; rose 0.47 percent

    * TransCanada Corp : National Energy Board agreed to
cut fixed tolls on the pipeline operator's mainline, a
cross-country natural gas pipeline network, which the regulator
says will help keep the system competitive and profitable
despite increasing supplies from U.S. shale gas producers.

    Following is a summary of research actions on Canadian
companies reported by Reuters. 
    * AutoCanada Inc : RBC raises price target to C$22
from C$19 following the company's strong fourth-quarter
    * Advantage Oil & Gas Ltd : TD Securities raises the
price target to C$4.75 from C$4.00 and says increasing natural
gas prices and new hedges will allow the company to fund Glacier
development, doubling production by 2015.
    * Delphi Energy Corp : CIBC raised price target to
$1.40 from $1.30, cites the company's acquisition of sections of
Montney rights that are contiguous with its existing Bigstone
lands for $13.65 million as an opportunity to increase its
Montney land position at Bigstone.
    * Longview Oil Corp : CIBC cuts the price target to
$5.40 from $6.10 as the company's fourth-quarter earnings and
production came in-line with expectations.
    * Magellan Aerospace Corp : TD Securities upgrades
the rating to buy from hold following the company's
better-than-expected earnings in the fourth quarter.

    * Major Canadian economic data includes growth and producer
price numbers. 
    * Major U.S. events and data includes weekly jobless claims,
final fourth-quarter growth, Chicago PMI and corporate profits.
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