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CANADA STOCKS-TSX may open higher on steady metals

Published 08/06/2009, 08:29 AM
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TORONTO, Aug 6 (Reuters) - Toronto's main stock market index could open higher on Thursday, helped by further gains in world equity markets and steady metal prices.

U.S. stock index futures edged slightly higher on Thursday, with investors eyeing a government report on weekly jobless claims and more corporate earnings, one day after Wall Street ended a four-day rally. [ID:nN06234036]

Global stocks extended their five-month rally. [ID:nL647093]

On Wednesday the S&P/TSX composite index <.GSPTSE> closed up 28.83 points, or 0.26 percent, at 11,046.93.

Here is some news that could affect the market:

SUN LIFE FINANCIAL

Canadian insurer Sun Life Financial Inc reported a larger-than-expected quarterly profit on Thursday as it released reserves built by the recent stock market surge. [ID:nN05244728]

CANADIAN NATURAL RESOURCES LTD

Canadian Natural Resources Ltd said on Thursday its second-quarter adjusted profit fell 34 percent, hit by low oil and gas prices. [ID:nBNG374617]

QUEBECOR INC

Media and communications group Quebecor Inc reported a higher quarterly profit on Thursday, saying results were driven by its telecommunications segment, which experienced customer growth. [ID:nBNG223708]

CANACCORD CAPITAL INC

Canaccord Capital Inc said its first-quarter profit fell 45 percent, hurt mainly by a steep fall in interest revenue, and continued its dividend suspension policy. [ID:nBNG409607]

GMP CAPITAL INC

GMP Capital Inc reported a 49 percent drop in quarterly profit, missing market expectations, due to charges tied to the conversion from an income trust to a corporation. [ID:nBNG8821]

CANAM GROUP INC

Construction products maker Canam Group Inc reported a 57 percent fall in quarterly profit on Thursday, hurt by a slowdown in the non-residential construction market. [ID:nBNG242132]

OIL

U.S. crude prices fell below $72 on Thursday on oversupply worries after hitting the highest level since late June while Brent prices briefly touched a record for 2009. [ID:nSP359441]

GOLD, BASE METALS

Gold was steady around $960 an ounce in Europe on Thursday, pressured by a slight uptick in the dollar, but trading was muted ahead of an interest rate decision from the European Central Bank due later in the session. [ID:nL664961] Base metal prices were mixed. [ID:nL6102595]

AIR CANADA

Air Canada flew fuller planes in July, despite a recession-driven slowdown in air travel, as it carefully managed its capacity during the traditionally busier summer months. [ID:nN05280331]

METRO

Metro Inc, Canada's third-largest grocer, reported a higher quarterly profit that beat market estimates, helped by higher sales. [ID:nN30369420]

CANADA RESEARCH

* Genuity raises Dundee REIT price target to C$18 from C$16.50; rating hold.

* Raymond James cuts Lake Shore Gold Corp to market perform from outperform.

* Macquarie cuts Yamana Gold price target to C$13.75 from C$14.35; rating outperform. [ID:nBNG101855] for more research, please see: [CA-RCH]

($1=$1.07 Canadian) (Reporting by Nina Lex; Editing by Kenneth Barry)

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