TORONTO, April 9 (Reuters) - Toronto’s main stock index may open higher on Thursday as its heavy weighting in resource companies could benefit from firmer prices for oil and gold.
Even weak domestic data, which showed the economy shed 61,300 jobs in March, may be pushed aside as it was not nearly as weak as some market players had anticipated.
Action on the index could come to a standstill during the latter half of Thursday’s session as the TSX will be closed on Friday for the Easter holidays.
The S&P/TSX composite index .GSPTSE rose 144.53 points, or 1.64 percent, to close at 8,969.28 on Wednesday, driven largely by higher oil prices.
Here is some of the news that may affect the index:
Cogeco Cable Inc (CCA.TO) on Thursday posted a fiscal second-quarter loss as it recorded a noncash impairment loss related to its investment in Cabovisao. [ID:N09258809]
Oil CLc1 rose towards $51 on Thursday as rallies on stock markets revived thoughts of economic recovery and subsequent increased demand for commodities. [ID:nSP226434]
Gold edged higher in Europe on Thursday as the dollar weakened a touch versus the euro, but trading was muted ahead of the Easter break. [ID:nL9448823]
Canada’s unemployment rate jumped to a seven-year high in March and the economy lost more jobs than expected, resulting in the sharpest five-month employment decline since the 1982 recession. [ID:nN09253705]
Following is a list of research on Canadian-listed companies. For more, please see [RCH/CA].
* UBS cuts Potash (POT.TO) price target 4.7 percent to $100 with a “buy” rating.
* RBC raises Corus Entertainment CJRb.TO price target 8 percent to C$20 with an “outperform” rating
* RBC cuts Shaw Communications (SJRb.TO) to “sector perform” from “outperform” ($1=$1.23 Canadian) (Reporting by Frank Pingue; Editing by James Dalgleish)