December 2, 2009 / 1:06 PM / 8 years ago

CANADA STOCKS-TSX may open higher on record gold price

TORONTO, Dec 2 (Reuters) - Toronto’s main stock index could open higher on Wednesday as gold touched a record high, boosted partly by expectations of a weak U.S. dollar, helping to lift shares of mining companies.

The resource-laden index could follow global markets higher on Wednesday, and extend gains seen in Toronto in the previous session when the S&P/TSX composite index .GSPTSE closed 260.12 points, or 2.27 percent, higher at 11,707.32, its highest close since October 2008. However, weak oil prices could limit any potential gains.

Here is some news that could affect the market:

AGRIUM INC AGU.TO

Agrium Inc AGU.TO to nominate directors to CF Industries Holdings Inc board and challenges CF to drop poison pill. [ID:nWNAB1291]

GOLD HITS RECORD

Gold hit record highs at $1,216.75 an ounce in Europe on Wednesday as investors bet on higher prices, with funds lengthening positions due to expectations of a fresh leg of dollar weakness and more central bank buying. [GOL/]

OIL SAGS

U.S. crude futures fell below $78 a barrel on Wednesday after industry data showed a surprise build in U.S. crude stocks, raising doubts over demand recovery in the world’s largest energy user. [O/R]

CANADIAN NATIONAL RAILWAY CNR.TO

Canadian National Railway CNR.TO offered a potential olive branch on Tuesday to striking Canadian locomotive engineers, who are angry about a change in the amount of time they have to work each month. [ID:nN01497223]

NSN READY TO RAISE OFFER FOR NORTEL UNIT

Nokia Siemens Networks will object in U.S. bankruptcy court to Ciena Corp’s CIEN.O $769 million bid for Nortel’s NRTLQ.PK optical networking and carrier ethernet business, and is ready to raise its offer to $810 million in cash, the company said on Tuesday. [ID:nN01510881]

CANADA RESEARCH

RBC raises Bombardier BBDb.TO price target C$6.50 from C$6; rating outperform.

Raymond James raises Baytex Energy Trust BTE_u.TO target price to C$28.50 from C$26; keeps market perform rating.

Blackmont raises Silver Standard Resources SSO.TO price target to C$25 from C$22; rating sector perform.

($1=$1.05 Canadian) (Reporting by Jennifer Kwan, Editing by Chizu Nomiyama) ((jennifer.kwan@thomsonreuters.com; +1 416 941 8178; Reuters Messaging: jennifer.kwan.reuters.net@reuters.com)) ============================================================== FOR CANADIAN MARKETS NEWS, CLICK ON CODES IN BRACKETS: TSX market report..........[.TO] Canadian dollar and bonds report....[CAD/][CA/] Top News: Canada ......[TOP/CAN] Today in Canada.......[CA/DIARY] Canadian company news .. [E-CAN] Reuters global stocks poll (Canada)...EQUITYPOLL5 [EPOLL/CA] FOR CANADIAN MARKETS DATA, CLICK ON CODES IN BRACKETS: Canadian Equities speed guide.......<CA/EQUITY> S&P/TSX Composite index ...............GSPTSE S&P/TSE Venture composite index .......SPCDNX TSX most active..........AV.TO Venture Exchange most active.............AV.V Top TSX pct gainers......PG.TO Top TSX pct losers.......PL.TO S&P/TSX 60 index ........TSE60 52 week highs:

TSX...............t.YH.TO Venture..............t.YH.V 52 week lows:

TSX...............t.YL.TO Venture..............t.YL.V Canadian dollar quote......CAD=CAD=D3=CAD FOR MAIN GLOBAL MARKET DATA AND MARKET REPORTS: FTSE EUROTOP 300 ......FTEU3 EUROPEAN REPORT .......[.EU] Nikkei 225..............N225 Tokyo report............[.T] FTSE 100................FTSE London report...........[.L] Xetra DAX..............GDAXI Frankfurt market stories[.F] CAC-40...FCHI Paris market stories...[.PA] World Indices.......<0#.INDEX> Foreign exchange........[FRX/] Oil.......[O/R] US Treasuries............[US/] International bonds.....[EUB/] Gold.........[GOL/X] or [GOL/] CRB index of commodity futures.........[CRB/]

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