October 19, 2009 / 12:20 PM / in 8 years

CANADA STOCKS-TSX could follow commodities to higher open

 TORONTO, Oct 19 (Reuters) - Toronto's main stock index may
open higher on Monday as its heavy weighting in natural
resource-related shares could benefit from gains in commodity
 A recent surge in prices for gold and oil have helped boost
the TSX from a five-year low touched in March. The energy and
materials sectors make up more than 40 percent of the TSX's
 Earnings due from Apple Inc AAPL.O and Texas Instruments
Inc TXN.N out of the United States may also impact sentiment
as investors look for further signs of an economic rebound.
 The S&P/TSX composite index .GSPTSE closed virtually flat
at 11,504.76 on Friday. The index ended the week up 0.6
percent, its second weekly rise in a row.
 Here is some news that could affect the market:
 Fertilizer maker Agrium Inc AGU.TO agreed to sell part of
a nitrogen facility to Terra Industries Inc TRA.N for $250
million in cash as part of its hostile bid to acquire rival CF
Industries Holdings Inc CF.N. [ID:nN19341430]
 Canadian eye-care company QLT Inc said it restructured its
pact with Novartis Pharma AG NOVN.VX, giving QLT the
exclusive rights to sell anti-blindness treatment Visudyne in
the United States. [ID:nBNG501789]
 Canada's Toromont Industries Ltd announced on Friday a C$
597 million ($574 million) offer to acquire Enerflex EFX_u.TO
after friendly talks for a deal with the management of the
supplier of equipment for the oil and gas industry collapsed.
 Oil hit a year-high above $79 a barrel on Monday, driven by
bullish sentiment across financial markets, but later slipped
back as traders questioned whether ample fuel supplies
justified current price levels. [O/R]
 Gold rose on Monday, building on the gains of the last two
weeks, as the euro rose towards $1.50 and oil prices reached a
new 12-month high near $80 a barrel. [ID:nLJ735828]
 Following is a summary of research actions on Canadian
companies reported by Reuters. For more, please double click
 * Genuity raises Sun Life Financial's SLF.TO price target
2.5 percent to C$40.
 * Raymond James raises Trinidad Drilling's TDG.TO price
target 17.8 percent to C$8.25 with "outperform" rating.
 ($1=$1.03 Canadian)
 (Reporting by Frank Pingue; Editing by Padraic Cassidy)

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