December 29, 2008 / 1:36 PM / 9 years ago

CANADA STOCKS-TSX set to open higher, eyes on oil

TORONTO, Dec 29 (Reuters) - Toronto’s main stock market index was seen opening higher on Monday as the resource-heavy index may find support from the rising price of oil in the wake of violence in the Middle East.

The Toronto Stock Exchange’s S&P/TSX composite index .GSPTSE reopens on Monday after the Christmas break, but volume is expected to be light again with the trading week shortened by New Year’s Day holiday on Thursday.

Here is some of the news that may affect the market:

OIL ABOVE $40

Oil prices rose above $40 a barrel, boosted by the weak U.S. dollar and violence between Israel and Hamas that served as a reminder of tensions that could threaten crude supplies from the Middle East. For details, see [ID:nSIN417179].

ANTRIM ENERGY

Calgary-based Antrim Energy AEN.TO expects UK regulatory approval for the Phase I development plan of its Causeway property in the UK North Sea during 2009, the oil and gas explorer said. [ID:nBNG423470]

CREW GOLD

Miner Crew Gold CRU.TO said on Monday it was told to stop, then to continue operations in Guinea as the African state’s coup leaders seek to review mining deals signed under the previous regime. [ID:nLT351898]

CV TECHNOLOGIES

COLD-fx flu and cold treatment maker CV Technologies CVQ.TO said on Dec. 26 that there will be a delay in filing its annual financial statements due to significant changes in its finance department. The company expects to file statements on or before Jan. 12. [ID:nWNAB5912]

CANADIAN RESEARCH ROUND-UP [RCH/CA]

* Genuity raises Yamana Gold YRI.TO price target to C$10 from C$8; rating buy

$1=$1.22 Canadian Reporting by Ka Yan Ng; Editing by Jonathan Oatis

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