TORONTO, Dec 18 (Reuters) - Toronto’s main stock index could rise at the open on Friday as oil rose above $74 a barrel, boosting shares of the index’s weighty oil and gas companies.
The S&P/TSX composite index .GSPTSE could also get a boost after Research In Motion RIM.TO RIMM.O posted a big jump in profit in the previous session.
Here is some news that might affect the market:
RESEARCH IN MOTION RIM.TO
Research In Motion RIMM.O posted a big jump in profit and issued an even stronger outlook on Thursday, as sturdy demand from holiday shoppers helped the BlackBerry maker fend off the competition. [ID:nN17171897]
AETERNA ZENTARIS AEZ.TO
Canadian drugmaker Aeterna Zentaris AEZ.TO said on Friday that it would end a development deal with Sanofi-Aventis SNY.N (SASY.PA) for an enlarged-prostate drug following disappointing late-stage results for the treatment. [ID:nN18216584]
ENBRIDGE INC ENF_u.TO
Enbridge Inc is unlikely to expand its pipeline access to the Gulf of Mexico, and will concentrate on moving more Canadian oil to other U.S. markets and expanding its natural gas lines, the company’s chief executive said on Thursday. [ID:nN17192756]
PATHEON INC PTI.TO
Canadian drugmaker Patheon Inc reported a quarterly profit that topped estimates as a strong performance from its European divisions offset a weak showing from its North American units. [ID:nN18215026]
TOROMONT INDUSTRIES LTD (TIH.TO)
Toromont Industries Ltd raised its offer for Enerflex Systems Income Fund EFX_u.TO by about 5.6 percent, winning support for the deal from the equipment supplier for the oil and gas industry. [ID:nSGE5BH0B4]
Oil rose above $74 a barrel on Friday after an Iraqi official said Iranian troops briefly entered an Iraqi oilfield on Thursday [ID:nLDE5BH167], and on the prospect of increased winter demand. [O/R]
Gold rose 1 percent in Europe on Friday, recouping some of the previous session’s hefty 3.5 percent losses, as the dollar ceded some ground after hitting a 3-1/2 month high against the euro in the previous session. [GOL/]
* Canaccord raises Research In Motion RIMM.O price target to $95 from $90; rating Buy
* UBS cuts Fortis Inc (FTS.TO) to neutral from buy.
* RBC raises Transat AT Inc TRZb.TO price target to C$23 from C$20; rating Outperform
For more research please see [RCH/CA]
($1=$1.07 Canadian) (Reporting by Jennifer Kwan; Editing by Chizu Nomiyama)