November 26, 2010 / 1:36 PM / 8 years ago

CANADA STOCKS-TSX set to open lower as EU debt worries grow

Nov 26 (Reuters) - Toronto’s main stock index looked set to open lower on Friday as investors fled from riskier assets on worries that euro zone debt problems may spread.

European officials denied “absolutely false” reports Portugal was under pressure to seek a bailout and Spain ruled out needing help to manage its finances, despite fears of a spreading euro debt crisis. [ID:nLDE6AP08Y]


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

* U.S. stock index futures fell ahead of a shortened post-holiday session as investors fled from risk on worries that euro zone debt problems may spread. [.N]

* European shares retreated, pressured by banks and miners, as concerns about the euro zone debt crisis lingered and investors speculated other peripheral countries may also seek financial help. [.EU]

* Asian stocks were down as investors remained wary that Beijing may take more aggressive measures to curb inflation.


* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, fell 0.78 percent in early trade.

* U.S. crude oil futures fell $1 a barrel as Europe’s debt crisis pushed the euro to a two-month low against the dollar and as investors worried about tensions in Korea and Chinese inflation. [O/R]

* Gold fell 1 percent as the dollar pushed to fresh two-month highs against the euro on worries that Ireland’s debt crisis was spreading and growing speculation of an imminent Portuguese bailout. [GOL/]

* Copper eased, reversing the previous session’s gains, as concerns about a wider debt crisis in Europe pushed up the dollar to weigh on base metals. [MET/L]


* Ecopetrol ECP.TO: The Colombian President Juan Manuel Santos told the state-run oil company to start the placement of 9.9 percent of its shares, money from which would be used mainly for road projects. [ID:nN25288979]

* Toronto-Dominion Bank (TD.TO): Canada’s No. 2 lender will address the issue of its quarterly dividend early next year, CEO Ed Clark said on Thursday according to a report. [ID:nN25290225]

* Enbridge Inc. (ENB.TO): The company has reduced throughput on its 670,000 bpd pipeline exporting Canadian crude to the United States after a failure at a substation feeding its Lockport Terminal, the Globe and Mail newspaper said. [ID:nN25294350]

* Exco Technologies Ltd. (XTC.TO). The auto parts maker reported on Thursday higher fourth-quarter profit, helped by strength at its casting and extrusion, and automotive solutions segments. [ID:nSGE6AA0M4]


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

* Twin Butte Energy Ltd. TBE.TO target price raised to C$2.25 from C$1.85; keeps outperform rating at Raymond James

$1= $1.02 Canadian Reporting by Kishan Nair and Bangalore Newsroom; Editing by Jeffrey Hodgson

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