April 5, 2010 / 1:05 PM / 8 years ago

CANADA STOCKS-TSX may open higher on oil rally, U.S. data eyed

TORONTO, April 5 (Reuters) - Toronto’s main stock index may open higher on Monday on rallying commodity prices and data that showed U.S. employers created jobs last month at the fastest pace in three years, boosting hopes of a sustained economic recovery.

The index could also follow Asian markets and U.S. futures, ahead of pending homes sales and the ISM non-manufacturing report, although trading could be light as investors extend the long weekend for Easter celebrations.

Canada’s main stock index shot higher on Thursday as upbeat international manufacturing numbers prompted fresh fund flows into commodities at the start of the quarter, boosting the heavily- weighted resource shares.

Here is some news that could affect stock prices:

JOBS DATA BOOSTS RECOVERY HOPES

The number of U.S. workers filing new claims for jobless aid fell last week and factory activity in March hit its highest level in more than 5-1/2 years, strengthening hopes for continued economic growth without government support. [ID:nN01114317]

OIL HITS 18-MONTH HIGH

U.S. crude futures hit an 18-month high on Monday, climbing towards $86 per barrel on expectations of faster-than-expected economic recovery and increasing demand for fuel. [O/R]

GOLD STEADIES

Spot gold XAU= stood at $1,126.25 an ounce, up from $1,124.50 quoted late in New York on Friday. It had hit an intraday high of $1,126.70 an ounce on a firmer euro. [GOL/]

SUNCOR COMPLETES REPAIRS

Suncor Energy Inc (SU.TO) said on Thursday it completed repairs one of its oil sands upgrading units in northern Alberta, damaged in a fire in early February, and output has returned to full rates. [ID:nN01145819]

SOUTHWEST, WESTJET PACT AT RISK?

A planned code-share pact between Southwest Airlines (LUV.N) and WestJet Airlines Ltd WJA.TO appears to be at risk after Southwest learned WestJet was in talks with other airlines about similar partnerships. [ID:nN01142170]

MINING DEAL

Agnico-Eagle Mines (AEM.TO) has agreed to buy Comaplex Minerals’ CMF.TO Meliadine gold property in northern Canada, which is located just 300 km (186 miles) from Agnico’s Meadowbank project, for about C$570 million ($564 million), the two companies said on Thursday. [ID:nN01150173]

RESEARCH ROUNDUP

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

* Macquarie cuts Bombardier (BBDb.TO) price target to C$7.10 from C$7.60; rating outperform

* UBS cuts Cameco Corp (CCO.TO) price target to C$34 to from C$36; rating buy

* RBC raises SNC-Lavalin (SNC.TO) price target to C$59 from C$57; rating outperform

* RBC cuts Uranium One UUU.TO price target to C$4.25 from C$5; rating outperform (Reporting by Claire Sibonney, editing by Editing by Jeffrey Hodgson)

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