June 17, 2010 / 12:52 PM / 7 years ago

CANADA STOCKS-TSX may open higher as Europe worries ease

June 17 (Reuters) - Toronto’s main stock index could open slightly higher on Thursday as strong demand for Spanish bonds calmed investors’ nerves over euro zone debt worries.

Wall Street was poised for a higher start, though futures pared gains after disappointing jobless claims data. [.N]

Canadian stock futures also pointed to a higher open. <0#SXF:>

European shares were higher for the seventh session in a row to a near five-week high, with banks among the top gainers. Asian shares were mixed with Nikkei’s weaker close.

Here is some news that could affect stock prices:

OIL TRIMS LOSSES

Oil trimmed earlier losses and was trading above $77 a barrel on Thursday, as anxiety over Spain’s public finances eased in global markets following the results of its well covered bond auction. [O/R]

COPPER SLIDES

Copper prices slid on Thursday, as worries about demand from top consumers the United States and China returned to haunt the market and traders noted the first rise in stocks in a month. [MET/L]

GOLD RISES

Gold rose to $1,235 an ounce in Europe on Thursday, benefiting from concern over euro zone sovereign debt and its impact on the wider economy, which prompted investors to cut their exposure to riskier assets. [GOL/]

CENOVUS PLANS BOOST IN OIL SANDS OUTPUT

Cenovus Energy Inc CVE.TO, the oil sands company spun off by EnCana Corp ECA.TO late last year, said on Wednesday its northern Alberta properties contain more than enough oil to support plans for a five-fold rise in production over the next decade. [ID:nN16168302]

CINEPLEX TO BUY DDC GROUP

Movie exhibitor Cineplex Entertainment LP, which is owned by Cineplex Galaxy Income Fund CGX_u.TO, on Thursday said it agreed to acquire DDC Group International Inc and its units for about C$3.5 million to boost its digital media business. [ID:nSGE65G0CQ]

DESCARTES ACQUIRES ROUTING INTERNATIONAL

Descartes Systems Group Inc DSG.TO on Wednesday acquired Routing International, a privately-held Belgian company, for about 3.3 million euros as it looks to service small to large enterprises in Europe.

EVERTZ TECHNOLOGIES PROFIT

Broadcast equipment company Evertz Technologies Ltd ET.TO on Wednesday posted a quarterly profit that beat market estimates, partly helped by lower selling and administrative expenses. [ID:nSGE65F0JC]

RESEARCH ROUNDUP

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.

* Evertz Technologies Ltd ET.TO raised to $15.50 from $14; rating outperform at Raymond James, raised to $22 from $19; rating outperform at BMO

* Cenovus Energy Inc CVE.TO raised to $35 from $34; rating outperform at Macquarie

* Pengrowth Energy Trust PGF_u.TO raised to outperform from neutral at Macquarie

* Pacific Rubiales Energy PRE.TO raised to $28 from $24.50; rating outperform at BMO ($1=$1.02 Canadian) (Reporting by Bangalore newsroom, editing by Ashutosh Joshi and Jeffrey Hodgson)

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