May 18, 2011 / 12:29 PM / 8 years ago

CANADA STOCKS-TSX may open higher as commodity prices rebound

May 18 (Reuters) - Toronto’s main stock index looked set to open higher on Wednesday, with a rebound in commodity prices helping to boost investors’ sentiment towards riskier assets.


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

* U.S. stock index futures rose, helped by stronger-than-expected results from computer maker Dell and a rebound in commodity prices. [.N]

* European equities bounced back from four-week closing lows as strong results from Land Securities (LAND.L) led real estate companies higher, while miners tracked a sharp rebound in key base metals prices. [.EU]

* Markets in Asia were high, with an exception to India’s Sensex, which closed 0.28 percent lower, led by losses in Reliance Industries and State Bank of India.


* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, rose 0.96 percent in early trade.

* Oil rebounded more than $1 to above $111 a barrel, after falling for two sessions, supported by a surprise drop in U.S. gasoline inventories and a weaker dollar. [O/R]

* Gold prices rose back above $1,490 an ounce in Europe as a retreat in the dollar encouraged buyers to hunt bargains after the metal’s three-day decline, and as oil prices rebounded. [GOL/]

* Copper rallied to a one-week high as the dollar slipped and investors returned to commodity markets, but doubts about short-term fundamentals are expected to cap prices. [MET/L]


* Aeterna Zentaris Inc. AEZ.TO: The drugmaker posted a wider first-quarter loss hurt by higher costs and lower license fees. [ID:nL4E7GI1Q0]

* Jaguar Mining Inc. (JAG.TO): The gold producer posted a first-quarter profit that beat analysts’ estimates, helped by surging bullion prices. [ID:nL4E7GH3EU]

* Canaccord Financial Inc. (CF.TO): The company said on Tuesday its fourth-quarter profit soared amid record revenue from advisory fees. [ID:nN17277454]


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

* Flint Energy Services Ltd FES.TO price target cut to C$17 from C$19 at CIBC

* Primero Mining Corp P.TO price target raised to C$7.75 from C$7.25; rating buy at Canaccord Genuity

* Transforce Inc TFI.TO price target raised to C$18 from C$17; rating outperform at National Bank Financial

$1= $0.97 Canadian Reporting by Kishan Nair; Editing by Jeffrey Hodgson

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