November 14, 2011 / 1:28 PM / 7 years ago

CANADA STOCKS-TSX may open lower on Europe concerns, commodities

Nov 14 (Reuters) - Toronto’s main stock index looked set to open lower on Monday amid doubts that the euro zone can contain its debt crisis despite new governments in Italy and Greece.


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

* U.S. stock index futures fell after strong gains going into the weekend and as Italy and Greece rushed to form technocrat-led governments to stave of the euro zone debt crisis. [.N]

* European shares extended losses after an auction of up to 3 billion euros ($4.1 billion) of five-year Italian bonds failed to provide relief during a choppy session. [.EU] ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ To receive an early e-mail of Reuters Morning News Call - Canada — a preview of market moving news — Thomson Reuters subscribers can register at [CA/MNC] ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^


* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, fell 0.31 percent in early trade.

* Crude oil futures fell more than $1 a barrel after data showed euro zone industrial output was contracting, suggesting a possible regional recession. [O/R]

* Gold came under pressure as the euro fell against the dollar which fell after initial optimism over the ability of Italy and Greece to tackle their debt burdens faded. [GOL/]

* Copper rallied as demand prospects brightened amid news that Italy and Greece have appointed new leaders charged with implementing austerity measures. [MET/L]


* Bombardier BBDd.TO: The aircraft maker is intensifying its focus on emerging markets for its crucial new C-series of jets, executives said on Sunday. [ID:nL5E7MD07S]

* Power Financial Corp. (PWF.TO): Resilience in the insurance and mutual-fund subsidiaries in a period of volatile markets pushed up its quarterly profit and that of its parent Power Corp (POW.TO), results on Friday showed. [ID:nN1E7AA0T5]

* Twin Butte Energy Ltd. TBE.TO: The company will buy Emerge Oil & Gas Inc EME.TO for about C$105 million in a stock deal to increase its oil reserves and production. [ID:nL3E7ME08R]

* Brigus Gold Corp.BRD.TO: The company posted a third-quarter profit, but cut production outlook for the current quarter due to a slower-than-expected ramp up at its Black Fox underground mine. [ID:nL3E7ME1SD]

* GLG Life Tech Corp (GLG.TO): The manufacturer of food and beverages for the Chinese market posted a third-quarter loss, hurt by weak demand for its products and higher costs. [ID:nL3E7ME1O2]

* Crystallex International Corp. KRY.TO: The company said on Friday it has sold $18.7 million of equipment from a Venezuelan gold mine while seeking compensation of $3.8 billion after the country terminated its permit to develop the property early this year.[ID:nN1E7AA1QZ]

* Talison Lithium Ltd.TLH.TO: The producer of lithium by sales posted a lower first-quarter profit, hurt by foreign exchange losses.[ID:nL3E7ME1RC]


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

* Atlantic Power Corp (ATP.TO) price target cut to C$14 from C$14.50 at National Bank Financial

* Bank of Montreal (BMO.TO) price target cut to C$62 from C$65 at CIBC

* Bank of Nova Scotia (BNS.TO) price target cut to C$58 from C$60 at CIBC

* Brookfield Office Properties Canada BOX_u.TO price target raised to C$24.50 from C$23.50 at RBC

* Canaccord Financial (CF.TO) price target cut to C$13 from C$16 at KBW

* Lake Shore Gold LSG.TO price target cut to C$2 from C$3 at CIBC

* Laurentian Bank (LB.TO) price target cut to C$46 from C$48 at CIBC

* National Bank of Canada (NA.TO) price target cut to C$76 from C$79 at CIBC

* NorthWest Healthcare Properties (NWH_u.TO) price target raised to C$12.50 from C$12.25 at RBC

* Power Corp Of Canada (POW.TO) price target cut to C$27 from C$30.75 at CIBC

* Power Financial (PWF.TO) price target cut to C$28.50 from C$32.50 at CIBC

* Rainy River Resources RR.TO rating raised to sector performer from sector underperformer at CIBC

* RBC (RY.TO) price target cut to C$51 from C$54 at CIBC

* TD Bank (TD.TO) price target cut to C$84 from C$87 at CIBC ($1= $1.02 Canadian) (Reporting by Anil Kumar; editing by Janet Guttsman)

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