May 30, 2011 / 12:25 PM / 8 years ago

CANADA STOCKS-TSX may open firmer, helped by steady commodities

May 30 (Reuters) - Toronto’s main stock index looked set to open slightly higher on Monday, helped by steady commodity prices, although Greece’s debt crisis might continue to deter investors from searching for riskier assets.


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

* European stocks inched up in holiday-thinned trade, with gains limited as German utilities dropped on a government decision to shut all the country’s nuclear reactors by 2022. [.EU]

* Asian markets were largely in red, but bucking the trend was Hang Seng which inched higher, helped by banking shares.


* Gold held steady, buoyed by the ongoing debt crisis in the euro zone, while silver trimmed gains as a hike in margins by the Shanghai Gold Exchange kept sentiment in check. [GOL/]

* Brent crude oil fell below $115 a barrel as investors weighed a slightly firmer U.S. dollar and the prospect of increased demand from the start of the U.S. summer driving season. [O/R]

* Shanghai copper fell on technicals, European debt problems and uncertainty about the monetary policies of the United States and China, on track for a 1 percent loss in May. [MET/L]


* Fortis Inc.(FTS.TO):The company said it has agreed to acquire rival utility service provider Central Vermont Public Service Corp in a deal worth $700 million, including debt. [ID:nN30231534]

* Husky Energy Inc.(HSE.TO): Canadian oil producer and refiner applied to list all or part of its business on the Hong Kong stock exchange, a newspaper reported on Monday. [ID:nL3E7GU040]


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

* Canadian Utilities Ltd (CU.TO) rating cut to hold from buy on valuation at Canaccord Genuity

* Hudbay Minerals Inc (HBM.TO) price target cut to C$16.30 from C$16.80; rating hold at Canaccord Genuity

* National Bank Of Canada (NA.TO) price target raised to C$86 from C$83 at CIBC

* RBC (RY.TO) price target cut to C$61 from C$65 at CIBC

$1= $0.98 Canadian Reporting by Anil Kumar; Editing by Jeffrey Hodgson

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