February 27, 2012 / 1:12 PM / 7 years ago

CANADA STOCKS-TSX to open low as firm oil threatens growth

Feb 27 (Reuters) - Canada’s resource heavy index looked set to open lower on Monday, as recent high oil prices added to worries about company earnings and global growth. G20 ministers asked Europe to commit more money to fight the debt crisis before seeking their help.


* Canadian equity futures pointed to a lower open.

* US stock index futures pointed to a lower open, with futures for the S&P 500, the Dow Jones and the Nasdaq 100 falling 0.1 to 0.5 percent.

* European shares fell as investors worried about high oil prices hurting company earnings and global growth.


* The Thomson Reuters-Jefferies CRB index, a global commodities benchmark, fell 0.27 percent in early trade.

* Oil fell more than $1, taking North Sea Brent below $124 per barrel, after a week of gains pushed oil to 10-month highs on worries over disruptions to Middle East oil supplies.

* Gold prices fell 1 percent, in line with the euro, stocks and other commodities, as worries over the euro zone debt crisis and the impact of high crude oil prices on economies fuelled risk aversion.

* Copper fell on concerns about weak Chinese consumption, the threat of high oil prices to a fragile global economy and the funding of debt-wracked Europe.


* Gran Tierra Energy Inc. : The oil and gas explorer’s quarterly profit more than doubled, helped by higher production.

* Bowood Energy Inc. : The oil and gas company said it is looking at strategic alternatives, including a sale of its assets.

* TransCanada Corp. : The company said on Friday it will build a $500 million extension to a natural gas pipeline in Mexico to serve a power plant in Queretaro, a project that will be backed by 25-year transport contract.

* Petrominerales Ltd. : The oil and gas producer said production from its assets in Colombia and Peru fell sequentially in January as the South America focused oil and gas producer dealt with two off-line wells.


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

* Alamos Gold : Canaccord Genuity raises price target to C$26.50 from C$23.50

* Calloway REIT : Canaccord Genuity raises price target to C$27.90 from C$27.45

* Enerplus Corp : Macquarie cuts price target by C$1 to C$24.50, rating neutral; Canaccord Genuity raises price target by C$2 to C$24

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