November 18, 2011 / 1:28 PM / 6 years ago

CANADA STOCKS-TSX may open higher on rising commodity prices

 Nov 18 (Reuters) - Toronto's main stock index looked set to
open higher on Friday, with support likely to come from higher
oil, gold and commodity prices, which gained on hopes
policymakers will act to contain Europe's debt crisis.
 * Canadian equity futures <0#SXF:> pointed to a higher
 * U.S. stock index futures rose after Europe's debt crisis
drove heavy market losses this week, with the S&P 500 falling
through important technical levels and possibly facing another
key test of the strength. [.N]
 * European shares reversed losses and traded higher, with
traders citing speculation that the European Central Bank may
lend money to the IMF to provide the fund with the resources to
bail out bigger euro zone sovereigns.[.EU]
 * The Canadian dollar firmed to a session high against the
U.S. currency after data showed inflation dipped but came in
higher than forecast. [CAD/]
 Canadian inflation rose 2.9 percent in October from a year
earlier, easing from 3.2 percent in September, as gasoline
prices rose at a slower year-on-year pace. [ID:nN1E7AH067]
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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, rose 0.51 percent in early trade.
 * Brent crude oil rose a dollar to over $109 a barrel,
helped by a weaker dollar, after posting steep losses in the
previous session, but analysts and traders said the risk
remained to the downside given the economic weakness in Europe.
 * Gold inched up helped by a weaker dollar and some
bargain-hunting but was still on track for its largest weekly
loss since September as euro zone debt contagion worries
spooked investors. [GOL/]
 * Copper prices steadied, on course for a third week of
falls as fears of contagion in the euro zone debt crisis
deepened concerns about the region's growth, although a weak
dollar helped limit further falls. [MET/L]
 * Opti Canada Inc. OPC.V: The oil sands company said it
received all regulatory approvals to be acquired by China's top
offshore oil producer CNOOC Ltd. [ID:nL3E7MI0LL]
 * Yamana Gold YRI.TO: The company said it has started
production at its Mercedes mine in Mexico and it expects to
start commercial production in the second quarter of 2012.
 Following is a summary of research actions on Canadian
companies reported by Reuters. [RCH/CA]
 * Altus Group Ltd AIF.TO rating raised to sector
outperformer from sector performer at CIBC
 * Canexus Income Fund CUS.TO price target raised to C$8
from C$7.50 at CIBC
 * Extendicare REIT EXE_u.TO price target cut to C$7.75
from C$9 at CIBC
 * Novagold Resources Inc NG.TO price target cut to C$10
from C$10.50 at National Bank Financial
 * TD Bank TD.TO removed from action list on macro
uncertainty at National Bank Financial
 * 5N Plus Inc VNP.TO price target cut to C$10 from C$11
at National Bank Financial
 ($1= $1.02 Canadian)
 (Reporting by Anil Kumar; Editing by Jeffrey Hodgson)

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