May 2, 2011 / 12:30 PM / 8 years ago

CANADA STOCKS-TSX may open higher on bin Laden, oil could weigh

May 2 (Reuters) - Toronto’s main stock index looked set to open slightly higher on Monday after news that al Qaeda leader Osama bin Laden was killed by a U.S.-led operation in Pakistan increased investor hopes that geopolitical risks will ease.

But Canadian energy and gold mining stocks could weigh on the broader market after the news helped send oil prices down by more than 3 percent and knocked the gold price from a record high. [O/R] [GOL/]


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

* U.S. stock index futures advanced following confirmation that Al Qaeda leader Osama bin Laden was killed by a U.S.-led operation in Pakistan. [.N]

* European shares hit a two-month high in holiday-thinned trade on optimism the earnings season will stay strong in the near-term. [.EU]

* Asian markets were mixed with Nikkei jumping above 10,000 for the first time since mid-March on optimism that Wall Street shares would rally further later in the day after Laden’s death.


* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, fell 0.73 percent in early trade.


* Centerra Gold (CG.TO): The gold miner posted a 10 percent rise in its first-quarter profit helped by increased gold prices, offsetting the impact of lower output and higher costs. [nL3E7FT3H6]


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

* Aastra Technologies Ltd AAH.TO price target cut to C$22 from C$24; rating sector perform at National Bank

* CGI Group (GIBa.TO) price target raised to C$24 from C$23 at CIBC

* Garda World Security Corp GW.TO price target raised to C$13 from C$11.25; rating outperform at National Bank

* Home Capital Group (HCG.TO) price target raised to C$65 from C$64; rating outperform at National Bank

* Jean Coutu PJCa.TO rating raised to sector performer from sector outperformer at CIBC

$1= $0.95 Canadian Reporting by Shrutee Sarkar; editing by Jeffrey Hodgson

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below