November 24, 2010 / 1:36 PM / 8 years ago

CANADA STOCKS-TSX to open flat on Ireland worries

Nov 24 (Reuters) - Toronto’s main stock index looked set to open little changed despite uncertainty over Ireland’s plans to tackle its debts and fears the crisis could spread to other peripheral euro zone countries.


* Canadian equity futures <0#SXF:> point to a flat open.

* U.S. stock index futures edged higher as Wall Street looked to shift focus away from tensions on the Korean peninsula and European debt worries to U.S. data. [.N]

* European shares were higher, boosted by strong German business sentiment data. Trade was choppy amid concerns about Ireland’s debt crisis and political tension in Korea. [.EU]

* Asian stocks were mixed. The Nikkei fell after Tuesday’s North Korea’s shelling of a South Korean island and China and Hong Kong rebounded from multi-week lows on lower volumes as investors bought beaten down stocks such as bank- and commodity-related counters.


* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, rose 0.30 percent in early trade.

* Oil edged above $81 a barrel, rising from a near week’s low on expectations of falling U.S. inventories. [O/R]

* Gold steadied as concern that Ireland’s debt crisis could spread pushed the euro price of bullion to its highest level since June. [GOL/]


* Research in Motion RIM.TO: Dubai-based Axiom Telecom, which this week launched the UAE’s first initial public offering for two years, signed a direct supply agreement with BlackBerry manufacturer. [ID:nLDE6AN08U]

* Enbridge Inc. (ENB.TO): High nominations by oil shippers, temporary capacity restrictions and unplanned maintenance on a troublesome U.S. pipeline have forced the pipeline company to ration more space on its crude oil transport network. [ID:nN23173962]

* Cameco Corp. (CCO.TO): The miner signed a long-term deal to supply 29 million pounds of uranium concentrate to China’s state-owned nuclear power company. [ID:nSGE6AN0DZ]

* Maple Leaf Foods (MFI.TO): Ontario Teachers’ Pension Plan said on Tuesday it would sell its entire 25 percent stake in the company at a sharp discount, ending the fund’s longtime role in one of Canada’s top food processors. [ID:nN23163965]


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

* Alimentation Couche Tard Inc (ATDb.TO) price target raised to C$28.50 from C$24; rating neutral at UBS

* MKS Inc MKX.TO rating raised to buy from neutral at Versant Partners

* ShaMaran Petroleum Corp (SNM.V) price target raised to C$1 from C$0.80; rating speculative buy at Canaccord Genuity ($1= $1.02 Canadian) (Reporting by Kishan Nair and Bangalore Newsroom; editing by Janet Guttsman)

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