September 16, 2011 / 12:47 PM / 7 years ago

CANADA STOCKS-TSX set to open lower as RIM, Europe fears weigh

Sept 16 (Reuters) - Canada’s main stock index was set to open lower on Friday, hurt by disappointing results from BlackBerry maker Research In Motion Ltd RIM.TO and concern about the outcome of a euro zone finance ministers meeting in Poland.

RIM reported a steep drop in second-quarter profit on limp sales of its smartphones and tablets, and offered investors little hope of a turnaround anytime soon. [ID:nS1E78E1MR]


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

* U.S. stock index futures were lower after equities notched four days of gains and as European policymakers gathered to discuss the region’s debt crisis, while Research in Motion weighed on the technology sector after a weak earnings report. [.N]

* European shares rose early, adding to their rally following central bank action to boost liquidity and ahead of a meeting between U.S. Treasury Secretary and European finance ministers to discuss leveraging the euro zone’s bailout fund. [.EU]

* Asian stocks were mostly up with the Nikkei rising more than 2 percent, posting its biggest daily percentage gain since March. ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ To receive an early e-mail of Reuters Morning News Call - Canada — a preview of market moving news — Thomson Reuters subscribers can register at [CA/MNC] ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^


* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, fell 0.3 percent in early trade.

* Brent crude rose, boosted by gains in equity markets and delays on key North Sea crude oil loadings. [O/R]

* Gold tumbled to a two-week low as diminishing liquidity concerns prompted a bout of selling, but lingering concern about financial stability and strong physical buying interest from Asia later helped it to recover. [GOL/]

* Copper rose, building on the strength gained from the previous session after a funding plan for banks allayed fears over Europe’s festering debt crisis, but the support is expected to be short-lived. [MET/L]


* Arise Technologies APV.TO: The solar technology company, which is reviewing its strategic alternatives, said it secured a C$500,000 bridge loan from Radiant Investments Management’s funds to run operations. [ID:nL3E7KF3Y3]

* Alamos Gold Inc. (AGI.TO): The gold miner said measured and indicated resources for two of its projects in Turkey rose 19 percent. [ID:nL3E7KG1PZ]


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

* Astur Gold (AST.V) coverage started with outperform rating; price target C$3.30 at National Bank

* Centerra Gold Inc (CG.TO) rating raised to overweight from neutral at HSBC

* Grayd Resource GYD.V coverage started with outperform rating; price target C$2.15 at National Bank

$1= $0.98 Canadian Reporting by Shrutee Sarkar; Editing by Jeffrey Hodgson

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