March 25, 2011 / 12:35 PM / in 7 years

CANADA STOCKS-TSX may edge up on firm oil, gold; RIM to weigh

March 25 (Reuters) - Toronto’s main stock index looked set to edge higher on Friday with oil and gold prices steady, but BlackBerry maker Research In Motion RIM.TO was expected to drag on the market after warning its earnings would slip.

FACTORS TO WATCH

* Research In Motion RIM.TO: The Blackberry maker on Thursday warned its earnings would slip as it spends heavily on the launch of its PlayBook tablet. [ID:nN24175647]

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

* U.S. stock index futures rose, supported by technology shares after Oracle gave an upbeat forecast. [.N]

* European shares climbed to two-week highs as tech stocks gained on Oracle’s upbeat view on spending, though persistent worries about the euro zone debt situation limited gains. [.EU]

* Asian markets rose, with Nikkei average up more than a percent, to round off a week of gains as foreign investors scooped up battered shares.

COMMODITY PRICE MOVES

* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, rose 0.13 percent in early trade.

* Oil rose with Brent crude near $116, and analysts saw the risk of another price spike as unrest bubbled across the Middle East and western powers continued a military campaign in Libya. [O/R]

* Gold prices firmed a touch in Europe as resurgent worries over euro zone sovereign debt levels and violence in the Middle East and North Africa underpinned the metal’s safe-haven appeal. [GOL/]

* Copper steadied as concerns over sovereign debt in Europe and the worsening nuclear crisis in Japan undermined sentiment, but expectations of a supply deficit this year lent support. [MET/L]

OTHER CANADIAN STOCKS TO WATCH

* Yellow Media Inc. YLO.TO: The media and marketing company said on Friday it will sell its unit Trader Corp to funds advised by private equity firm Apax Partners for about $745 million in cash. [ID:nL3E7EP1V6]

* Firebird Resources Inc. FIX.V: The developer of mineral properties said on Friday its CEO and finance chief resigned. [ID:nL3E7EP1R9]

* Cryptologic CRY.TO: The gaming software company said it has initiated a strategic review of its business that includes the possibility of an offer being made for the company or a disposal of part of the business and had hired Deloitte Corporate Finance as financial adviser to assist it with the process. [ID:nLDE72O08V]

* Franco-Nevada Corp (FNV.TO): The gold-focused royalty company posted a better-than-expected fourth-quarter profit, helped by a 57 percent jump in royalty revenue, and said it will raise its monthly dividend 60 percent. [ID:nL3E7EO3J9]

ANALYST RECOMMENDATIONS

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

* Gammon Gold GAM.TO price target raised to C$9.95 from C$9.50; rating hold at Canaccord Genuity

$1= $0.98 Canadian Reporting by Kishan Nair; editing by Jeffrey Hodgson

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