Oct 25 (Reuters) - Toronto’s resource-heavy main stock index looked set to opener higher on Monday as commodities, which are largely priced in U.S. dollars, surged on broadbased weakness in the greenback.
* Canadian equity futures <0#SXF:> pointed to a higher open.
* Wall Street is expected to start higher after encouraging earnings in the previous week gave a positive momentum to the investors. [.N]
* European shares edged higher, led by miners on stronger metals prices, after a Group of 20 agreement failed to stop the trend of a weaker dollar. [.EU]
* Markets in Asia were mostly high, but Nikkei average fell 0.3 percent as the yen reached a 15-year high.
* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, rose 0.99 percent in early trade.
* Oil jumped by a dollar towards $83 a barrel, gaining for a second session as the U.S. currency weakened after a Group of 20 meeting. [O/R]
* Gold rose more than one percent and palladium hit its highest in nearly a decade, as the dollar slumped after weekend comments at the G20 meeting and investors awaited a speech by the Federal Reserve Chairman. [GOL/]
* Copper rose to a 27-month high above $8,500 a tonne as the dollar sank after a weekend G20 meeting, while investors took comfort from falling stocks and strong demand in top consumer China. [MET/L]
* Equinox Minerals EQN.TO: The copper miner said it would buy Australian-listed Citadel Resource Group for $1.23 billion. The deal would potentially give Equinox the same copper output as BHP Billiton’s Olympic Dam mine, the world’s fourth-largest deposit. [ID:nSGE69N031]
* Shaw Communications (SJRb.TO): The cable company can proceed with its C$2 billion purchase of the television assets of distressed media company Canwest Global, Canada’s communications regulator said on Friday. [ID:nN22197862]
* Spartan Exploration Ltd (SPE.TO): The oil and natural gas explorer said it expects to exceed its third-quarter production target and that it remains on track to meet or exceed its fourth-quarter production view. [ID:nSGE69O0GK]
Following is a summary of research actions on Canadian companies reported by Reuters. [RCH/CA]
* Cameco Corp (CCO.TO) price target raised to C$30 from C$27; keeps market perform rating at Raymond James
* Denison Mines (DML.TO) price target raised to C$2.60 from C$2.40; keeps outperform rating at Raymond James
* Hana Mining HMG.V price target raised to C$4.25 from C$3.50; keeps strong buy rating at Raymond James
* Orezone Gold ORE.TO price target raised to C$3.15 from C$2; keeps outperform rating at Raymond James
* Paladin Energy PDN.TO rating raised to outperform from market perform at Raymond James
* Pure Energy Services PSV.TO rating raised to strong buy from outperform at Raymond James
* Strathmore Minerals Corp STM.V price target raised to C$0.90 from C$0.70; keeps market perform rating at Raymond James
* Ur Energy Inc (URE.TO) rating cut to outperform from strong buy at Raymond James
* Uranium One UUU.TO rating cut to market perform from outperform at Raymond James
* Uranium Participation Corp. U.TO price target raised to C$7.50 from C$7; keeps market perform rating at Raymond James
* Xtreme Coil Drilling XDC.TO price target raised to C$3.75 from C$3.60; keeps sector perform rating at National Bank
$1=$1.01 Canadian Reporting by Bangalore newsroom; editing by Jeffrey Hodgson