September 1, 2011 / 12:12 PM / in 6 years

TSX may open low on weak commods, U.S. data eyed

Sept 1 (Reuters) - Toronto’s main stock index looked set to open lower on Thursday as commodity prices slipped while investors keep a close watch on U.S. labor and manufacturing data for clues on the state of the world’s largest economy.

A survey showing euro zone manufacturing activity contracted for the first time in almost two years may weigh on Canadian stocks as well, fueling concern about the region’s debt crises.

FACTORS TO WATCH

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

* U.S. stock index futures fell on Thursday following strong gains over the past several sessions as investors awaited labor and manufacturing data for clues on the state of the economy. [.N]

* European shares fell, snapping a three-day rally, with miners lower on weaker copper prices after Chinese export orders fell. [.EU]

* Asian markets rose with the Nikkei average above 9,000 for the first time in two weeks. ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ To receive an early e-mail of Reuters Morning News Call - Canada -- a preview of market moving news -- Thomson Reuters subscribers can register at [CA/MNC] ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

COMMODITY PRICE MOVES

* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, fell 0.36 percent in early trade.

* Brent crude fell below $114 a barrel as European data showed a sharp slowdown in manufacturing, raising fears of slower economic growth and a decline in fuel demand. [O/R]

* Gold prices recovered some early losses after European stock markets fell, snapping a three-day rally, and as investors weighed up the prospect of a fresh round of quantitative easing from the U.S. Federal Reserve. [GOL/]

* Copper fell on weak export orders from big metal consumer China and a survey showing a contraction in manufacturing activity in the euro zone, but supply concerns kept a floor under prices. [MET/L]

CANADIAN STOCKS TO WATCH

* Toronto-Dominion Bank TD.TO: The lender’s quarterly profit rose 23 percent due to stronger loan volumes, prompting the company to raise its dividend, it said. [ID:nN1E77U1CO]

* Mosaid Technologies MSD.TO: The patent licensing firm bought Luxembourg-based Core Wireless Licensing S.a.r.l in a deal that adds nearly 2000 telecom and wireless patents to its portfolio. [ID:nL4E7K121Z]

* Golden Predator Corp. GPD.TO: The company said it acquired the Livingstone district in the Yukon, raising its land holdings in the region by about 43 percent. [ID:nL4E7K11W1]

* Cameco Corp. CCO.TO: The uranium producer said it signed an agreement with its partner, Kazatomprom, to increase annual uranium production at Joint Venture Inkai LLP to 5.2 million pounds from 3.9 million pounds. [ID:nL4E7K1026]

ANALYST RECOMMENDATIONS

Following is a summary of research actions on Canadian companies reported by Reuters. [RCH/CA]

* Bombardier Inc BBDb.TO price target cut to C$8 from C$8.50 at CIBC

* CIBC CM.TO price target cut to C$87 from C$89; rating sector perform at National Bank

* North American Energy Partners Inc NOA.TO price target raised to C$7.50 from C$7 at CIBC

$1= $0.98 Canadian Reporting by Kishan Nair; Editing by Frank McGurty

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