April 1, 2010 / 12:03 PM / 9 years ago

CANADA STOCKS-TSX may open higher on resources, RIM eyed

TORONTO, April 1 (Reuters) - Canada’s main stock market index may open higher on Thursday on firm gold and energy prices, but disappointing results from technology heavyweight Research In Motion RIM.TO RIMM.O could temper the gains.

Activity could be light, however, as investors wind down for Easter celebrations.

Toronto’s main stock index ended little changed on Wednesday as weak banking shares offset stronger resource issues, limiting its gains for the month and latest quarter.[ID:nN31248218]

Here is some news that could affect stock prices:


Research in Motion said quarterly profit and sales rose, but the results lagged expectations and the stock tumbled on rekindled fears that the dominance of its BlackBerry smartphone is waning.[ID:nN26209697]


Bombardier Inc (BBDb.TO) reported a 43 percent fall in profit on Thursday, hurt mainly by lower deliveries and selling prices for business aircraft.[ID:nN31191134]


TransCanada Corp (TRP.TO) has received conditional U.S. regulatory approval to begin an open season to gauge whether companies are interested in shipping natural gas on its massive Alaska pipeline project, the U.S. Federal Energy Regulatory Commission said on Wednesday.


Teck Resources TCKb.TO expects to quickly pay back the term debt from its 2008 acquisition of Fording Canadian Coal Trust, and says it is now eyeing the benefits of the close ties with China that it forged in an equity sale last year.[ID:nN31240319]


Canada’s HudBay Minerals Inc (HBM.TO) lowered resource estimates for the Fenix project in eastern Guatemala but with a higher nickel grade.[ID:nSGE62U1QD]


Canadian central banker Paul Jenkins laid down a recipe for global economic success on Wednesday, but said if you take away one of the four key ingredients, the results won’t be so good.[ID:nTOE000120]


Air Canada ACa.TO said on Wednesday it is exploring a closer alliance with South Korea’s Asiana Airlines Inc (020560.KS) to take advantage of growing business between the two countries.[ID:nN31242100]


General Growth Properties Inc GGP.N filed an eagerly awaited plan to exit bankruptcy on its own and laid out bidding procedures, setting the stage for others like Simon Property Group Inc (SPG.N) to jump in with rival offers.[ID:nN30160329]


China’s vast manufacturing sector moved up a gear in March as orders climbed, two business surveys showed on Thursday, pointing to brisk first-quarter GDP growth that could spur further policy tightening by Beijing.[ID:nTOE63001J]


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

* Goldman Sachs cuts Research In Motion RIMM.O to Sell from Neutral

* Macquarie cuts Cameco Corp (CCO.TO) price target to C$30 from C$31; Rating Outperform

* Raymond James cuts Inmet Mining IMN.TO price target to C$80 from C$95; Rating Outperform ($1=$1.01 Canadian) (Reporting by Scott Anderson)

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