Dec 13 (Reuters) - Toronto’s main stock index looked set to open higher on Monday, buoyed by rising commodity prices after China held off on raising interest rates over the weekend despite high inflation pressure.
* Canadian equity futures <0#SXF:> pointed to a higher open.
* U.S. stock index futures were higher after China decided to leave interest rates unchanged. [.N]
* European shares rose by midday, on track to post their sixth straight session of gains, with mining shares boosted by a rally in metals prices as confidence in the economic recovery gathered pace. [.EU]
* Asian markets were largely up, with Nikkei clawed back towards a seven-month high as Chinese shares showed resilience to Beijing’s efforts to curb inflation and a softer yen supported exporters.
* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, rose 1.16 percent in early trade.
* Oil rose more than a dollar in line with other commodities after OPEC agreed to keep output targets unchanged despite a surge in heating fuel demand. [O/R]
* Gold edged back up above $1,390 an ounce in Europe as last week’s price dip of more than 2 percent brought physical buyers back to the market, with concern over the outlook for the euro zone also lending support. [GOL/]
* Copper hit a new record high, boosted by strong data from top consumer China over the weekend, and supply worries could propel prices even further. [MET/L]
* Bombardier (BBDb.TO): Russia’s rail monopoly is to sell part of its electrical equipment manufacturer Elteza to a unit of the company for 1.9 billion roubles continuing a plan to raise cash for new investments. [ID:nLDE6BC0P9]
* Macquarie Power & Infrastructure Income Fund MPT_u.TO: The company agreed with top Finnish utility Fortum Corp to buy about 33.3 percent stake in its district heating operations in Sweden for about C$100 million. [ID:nSGE6BC09I]
* HudBay Minerals Inc. (HBM.TO): The company said on Monday it expects 2011 gold, copper and zinc production to remain around this year’s estimated levels. [ID:nSGE6BC099]
* Brookfield Office Properties BPO.TO: The company, which manages office properties in the United States, Canada and Australia, said on Friday it sold an office building in Washington to the World Bank for $216 million. [ID:nN10295527]
Following is a summary of research actions on Canadian companies reported by Reuters. [RCH/CA]
* Le Chateau CTUa.TO price target cut to C$15 from C$17; rating buy at Versant
* Research In Motion RIM.TO rating cut to neutral from outperform at Exane BNP Paribas
* Wild Stream Exploration WSX.V price target raised to C$12.50 from C$11.50; rating buy at Canaccord Genuity
$1= $1 Canadian Reporting by Kishan Nair and Bangalore Newsroom; Editing by Jeffrey Hodgson