September 14, 2010 / 1:08 PM / 8 years ago

CANADA STOCKS-TSX set for lower start despite firm data

TORONTO, Sept 14 (Reuters) - Toronto’s main stock index looked set to open lower on Tuesday, hurt by lower oil prices, even as stronger-than-expected U.S. retail sales data further eased fears of a double-dip recession.


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

* U.S. stock index futures cut losses on Tuesday and S&P 500 futures briefly turned positive after U.S. retail sales data. [.N]

* The Canadian dollar touched a session high against the greenback on Tuesday after the U.S. data. [CAD/]

* European shares inched lower by midday on Tuesday as investors paused for a breather ahead of more economic numbers and a day after a key index surged to its highest level in more than four months. [.EU]

* Asian stocks were up while the yen jumped to a 15-year high after an election in Japan kept the status quo, leaving unclear whether a rally that lifted global equities to a four-month high can stay alive.


* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, rose 0.32 percent in early trade.

* U.S. crude oil futures prices pared losses on Tuesday after a government report showed U.S. retail sales in August increased more than expected. [O/R]

* Gold prices rose to session highs just below $1,260 an ounce on Tuesday as trading got underway on the U.S. market and ahead of the release of key U.S. economic data. [GOL/]

* Copper slipped on Tuesday as weaker-than-expected economic data from Europe prompted investors to sell riskier assets and raised worries about the strength of the economic recovery. [MET/L]


* Enbridge Inc (ENB.TO): Canada’s No. 2 pipeline firm said on Monday it was investigating a “potential” leak at a third crude oil pipeline that runs from Ontario to New York. [ID:nN13221176]

* Anglo-Australian miner Rio Tinto (RIO.L) (RIO.AX) said on Monday it has raised its stake in Ivanhoe Mines (IVN.TO) to 34.9 percent, following the conversion of a matured convertible credit facility. [ID:nN13206484]

* Research In Motion RIM.TO: India hopes its concerns about security issues related to BlackBerry services will be resolved, the telecoms minister said on Tuesday, giving the government access to electronic messages. [ID:nSGE68D0DX].

* Dollarama Inc (DOL.TO), Canada’s largest operator of dollar stores, reported a 21 percent drop in quarterly profit on higher expenses. [ID:nSGE68D0HZ]

* Boralex Inc (BLX.TO): A unit holder in Boralex Power Income Fund BPT_u.TO urged other holders to withdraw tendered units towards Boralex’s buyout offer, saying the Canadian alternative-power producer had provided “selective disclosure” about the trust’s assets. [ID:nSGE68C0LU]

* Kirkland Lake Gold Inc KGI.TO: The gold miner on Tuesday posted a higher first-quarter profit helped by a 16 percent jump in the average price per ounce of gold, and said it remained on track to meet its targeted gold production for fiscal 2011. [ID:nSGE68D0G2]

* GLG Life Tech (GLG.TO): The Canadian life sciences company said on Tuesday the U.S. health regulator issued a no objection letter for its highest purity stevia extract. [ID:nSGE68D0GO]


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

* Scotia raises BCE Inc (BCE.TO) to sector perform from sector underperform.

* Sterling Resources SLG.V price target raised to C$3.50 from C$3.15; rating outperform at RBC.

$1=$1.03 Canadian Reporting by Bangalore newsroom and Jennifer Kwan; 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