June 16 (Reuters) - Toronto’s resource heavy main stock index could open lower on Wednesday, as renewed euro zone worries offset gains in the price of some commodities.
Markets showed further concern about the European crisis, with the premium that investors demand to hold 10-year Spanish government bonds rather than euro zone benchmark German Bunds hitting a euro lifetime high.
Canadian stock futures pointed to a lower open. <0#SXF:>
And Wall Street is poised for a lower start after the release of U.S. housing and PPI data. [.N]
European shares edged higher with banks among the gainers. Markets in Asian rose, led by electronics makers and resource stocks.
Here is some news that could affect stock prices:
Oil prices edged down to hover below $77 a barrel on Wednesday after a surprise hike in crude inventories in the world’s top energy consumer the United States dampened risk appetite for commodities. [O/R]
Industrial metal prices hit two-week highs on Wednesday in a rally inspired by a stronger euro and rising stocks, but an upcoming seasonal lull in demand could curb further gains. [MET/L]
Gold rose above $1,235 an ounce in Europe on Wednesday as widening spreads between Spanish and German government bond yields pointed to ongoing concern over European debt levels, supporting the metal’s haven appeal. [GOL/]
Bombardier Inc (BBDb.TO) on Wednesday said it would start delivery of the double-deck trains to Swiss Federal Railways (SBB) in 2012 under a 1.8 billion Swiss franc ($1.6 billion) contract. [ID:nSGE65F0CD]
Aeterna Zentaris AEZ.TO said on Tuesday it received commitments from institutional investors to purchase $12.1 million of securities in a registered direct offering.
A senior executive at the operator of Canada’s biggest stock exchange said on Tuesday that stock-specific circuit breakers in Canada were a “likely outcome” of the so-called flash crash that hit markets in May.
TMX Group Inc’s (X.TO) Kevan Cowan, president of TSX Markets and group head of equities for the exchange operator, said Canada could follow a move by regulators in the United States. [ID:nN1552988]
Industrial chemicals supplier Chemtrade Logistics Income Fund (CHE_u.TO) on Tuesday said it expects its Beaumont, Texas plant to be operational again before October-end, following a fire at the plant on May 15. [ID:nSGE65E26Y]
Following is a summary of research actions on Canadian companies reported by Reuters. [RCH/CA]
Note: All values in RESEARCH ROUNDUP in Canadian currency, unless otherwise stated.
* Advantage Oil And Gas Ltd (AAV.TO) raised to $9.50 from $9; rating outperform at Raymond James
* Glacier Media Inc (GVC.TO) resumed with target of $3.25, rating outperform at Raymond James
* Parex Resources Inc PXT.V raised to $5.50 from $5; rating outperform at Raymond James
* Viterra Inc VT.TO cut to $10 from $11; rating outperform at Macquarie
* Softchoice Corp SO.TO raised to outperform from market perform at BMO
* Tekmira Pharmaceuticals TKM.TO cut to hold from buy at Desjardins ($1=$1.026 Canadian) (Reporting by Bangalore newsroom, editing by Ashutosh Joshi and Jeffrey Hodgson)