Oct 26 (Reuters) - Toronto’s main stock index could open lower on Tuesday, hurt by falling commodity prices as the U.S. dollar steadied.
* Canadian equity futures <0#SXF:> pointed to a lower open.
* U.S. stock index futures dipped, the day after the market rose to a five-and-a-half month high, while the dollar steadied. [.N]
* European stock indexes edged lower as financials fell on UBS concerns and basic resources weighed on a muted demand forecast from ArcelorMittal. [.EU]
* Asian shares dropped as the dollar steadied and uncertainty about intervention from the Bank of Japan to weaken the yen added to investor caution.
* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, fell 0.14 percent in early trade.
* Oil consolidated to close at $83, steadying after two days of gains as the dollar rose and ahead of a report that is expected to show an increase in U.S. crude oil stockpiles. [O/R]
* Gold edged lower in Europe as the dollar firmed a touch, but held near $1,340 an ounce as investors awaited clues from U.S. data due this week on the prospect of further monetary easing in the United States. [GOL/]
* Copper prices fell as the dollar rose, retreating from a 27-month peak hit earlier in the session and tracking choppy currency trading ahead of a key Federal Reserve meeting next week. [MET/L]
* Rogers Communications (RCIb.TO) posted a 24 percent drop in profit on Tuesday as it fought increased competition in its wireless business and paid heavily to subsidize smartphones. [ID:nSGE69P0G6]
* Research In Motion RIM.TO: Indian telecoms minister said on Tuesday the home ministry will decide if they need to give more time to the Blackberry maker to provide Indian security agencies access to its messenger and e-mail communication. [ID:nBMA008709]
* Vitran Corp. VTN.TO: The trucking company on Tuesday reported third-quarter profit that trailed estimates, hurt by a 60 percent drop in income from truckload operations. [ID:nSGE69O0KO]
* West Fraser Timber Co Ltd. (WFT.TO): North America’s largest softwood producer on Monday reported third-quarter profit and said pulp and lumber markets were strong enough to support the dividend and capital spending increases it announced last month. [ID:nN25285200]
* Atlantic Power Corp. (ATP.TO): The independent power producer on Monday agreed to buy Michigan-based Cadillac Renewable Energy, a 39.6 MW wood-fired facility, for about $77 million in an all-cash deal. [ID:nSGE69O0LM]
* GLG Life Tech Corp. (GLG.TO): The sweetner maker on Tuesday said it has become a partner with e-distributor ChemPoint.com Inc for the marketing, sale and distribution of stevia extracts within the United States and Europe. [ID:nSGE69P0FY]
* Royal Bank of Canada (RY.TO): A unit of the bank, RBC Capital Markets, said on Tuesday it has been designated a primary dealer in Germany and France, beginning on Tuesday, a move that would extend the Canadian investment bank’s reach and influence in European markets. [ID:nN25279946]
Following is a summary of research actions on Canadian companies reported by Reuters. [RCH/CA]
* Centerra Gold Inc (CG.TO) price target raised to C$21 from C$14; keeps neutral rating at HSBC
* West Fraser Timber Co Ltd (WFT.TO) price target raised to C$50 from C$44; keeps outperform rating at Raymond James.
($1= $1.02 Canadian)
Reporting by Bangalore Newsroom