December 14, 2010 / 1:45 PM / 8 years ago

CANADA STOCKS-TSX may open flat ahead of Fed policy meeting

Dec 14 (Reuters) - Toronto’s main stock index was headed for a flat open on Tuesday as commodities were mostly steady. Gold rose one percent on the sagging U.S. dollar.


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

* U.S. stock index futures were little changed as investors awaited the Federal Reserve’s assessment of the economy. [.N]

* European shares slipped after their longest winning streak in five months ahead of the Fed announcement. [.EU]

* Asian stocks advanced, supported by optimism that China would shun aggressive measures to curb inflation that could slow growth or blunt its voracious demand for raw materials.


* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, rose 0.28 percentarly trade.

* Oil prices consolidated ahead of U.S. inventory data.[O/R]

* Gold rallied to its highest in a week, as a dip in the dollar ahead of the Fed meeting and concern about the health of the global economy encouraged investors to buy bullion. [GOL/]

* Copper edged to a new record high. [MET/L]


* Telus Corp (T.TO) expects to see both earnings and revenue grow in 2011, driven primarily by growth in its wireless and data businesses, along with lower financing costs.

* Agrium Inc AGU.TO is in talks to sell the AWB commodity management businesses, which it bought as part of its $1.1 billion acquisition of Australia’s AWB earlier this year.

* Thomson Reuters Corp. (TRI.TO): The news and data provider on Monday launched a news service for U.S. publishers and broadcasters in a bid to win business from the Associated Press and CNN. [ID:nN13216804].

* Goldcorp Inc (G.TO): The company got environmental from Argentina’s Santa Cruz province to develop ots the Cerro Negro gold project. [ID:nSGE6BC0DU]

* Kinross Gold (K.TO): The company sold its 6.8 million shares in Osisko Mining (OSK) for C$14.70 each. The 1.8 percent equity interest was worth about C$100 million, based on the selling price. [ID:nN13214413]

* GLG Life Tech Corp. (GLG.TO): The sweetener maker entered into a joint venture with China Agriculture and Healthy Foods Company to sell and distribute for the sale and distribution of zero-calorie beverage and food products in the Asian country. GLG will hold an 80 percent controlling stake in the venture, while CAHFC will hold 20 percent. [ID:nSGE6BD09I]


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

* Gran Tierra Energy (GTE.TO) target price raised to C$8 from C$7.50; rating hold at Canaccord Genuity

* Hudbay Minerals (HBM.TO) target price raised to C$17.75 from C$17; rating hold at Canaccord Genuity ($1= $1.00 Canadian) (Reporting by Kishan Nair and Bangalore Newsroom; editing by Janet Guttsman)

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