CANADA STOCKS-Higher resources may lift TSX; banks could drag

May 27 (BestGrowthStock) – Toronto’s resource-heavy index could
open higher on Thursday, helped by rising commodity prices and
a rebound in global equity markets, but results by Canadian
banks could limit the gains.

Profits at three big Canadian banks rose but came in short
of lofty expectations as trading headwinds, the strong currency
and taxes took the shine from improving loan losses.
[ID:nN27201801]

But elsewhere, the euro and European shares pushed higher
after China denied a report it was looking to cut its euro zone
sovereign debt holdings. [MKTS/GLOB]

U.S. stock index futures pointed to a higher open after
China denied the report. [.N]

Here is some news that could affect stock prices:

RBC PROFIT MISSES ESTIMATES

Royal Bank of Canada (RY.TO: ) reported a lower-than-expected
quarterly profit on Thursday as the strong Canadian dollar ate
into revenue and loan losses edged up from the previous
quarter. [ID:nN26226162]

CIBC PROFIT MISSES EXPECTATIONS

Canadian Imperial Bank of Commerce (CM.TO: ) on Thursday
posted a lower-than-expected quarterly profit. [ID:nN26263872]

TD BANK Q2 PROFIT UP

Toronto-Dominion Bank (TD.TO: ) said on Thursday its profit
rose in the second quarter as loan losses fell to their lowest
level in six quarters. [ID:nN27252817]

OIL RISES FURTHER

Crude oil prices rose above $73 on Thursday, supported by
gains in Asian and European equity markets and after the
previous day’s U.S. official oil data showed an increase in
fuel demand. [O/R]

LEAD, COPPER RISES

Lead rose nearly 5 percent on Thursday, while copper rose
nearly 2 pct as panic paused over euro zone debt and investors
eyed a bounce in the euro and gains in wider financial markets
like oil and equities. [MET/L]

GOLD EDGES UP

Gold rose for a fourth day in a row on Thursday as worries
about Europe’s debt woes attracted buying from investors, while
holdings in the world’s largest bullion-backed exchange-traded
fund jumped to another record. [GOL/]

NEO MATERIAL BUYS INTEREST IN BUSS & BUSS

Neo Material Technologies Inc (NEM.TO: ) said on Thursday it
acquired 50 percent of the issued and outstanding shares plus
voting control of Buss & Buss Spezialmetalle GmbH.
[ID:nWNAB4151]

CHURCHILL TO SELL SHARES

Construction company Churchill Corp (CUQ.TO: ) said on
Wednesday it would raise C$175.5 million ($165.6 million)
through equity and debt to fund a portion its acquisition of
Seacliff Construction Corp (SDC.TO: ). [ID:nSGE64P0L2]

WHITEROCK REIT TO ADD OFFICE PROPERTIES

Whiterock Real Estate Investment Trust (WRK_u.TO: ) said on
Wednesday it agreed to purchase and lease office properties
worth C$147 million, and will fund this by raising about C$34
million through an equity offering. [ID:nSGE64P0L4]

AMBRILIA OBTAINS STAY ORDER EXTENSION

Ambrilia Biopharma Inc (AMB.TO: ) said on Wednesday it
obtained fifth extension of CCAA stay order. [ID:nWNAB3968]

RESEARCH ROUNDUP

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

Note: All values in RESEARCH ROUNDUP in Canadian currency,
unless otherwise stated.

* Bank of Montreal (BMO.TO: ) price target raised to $68 from
$65; rating neutral at Macquarie

* Iberian Minerals Corp (IZN.V: ) price target cut to $0.80
from $1; rating outperform at Macquarie

* Laurentian Bank of Canada (LB.TO: ) price target cut to $54
from $56; rating outperform at Macquarie

* Parex Resources Inc (PXT.V: ) price target raised to $5.40
from $5.30; rating buy at Versant

* Red Back Mining Inc (RBI.TO: ) price target raised to $32
from $30; rating buy at UBS

* Trican Well Service Ltd (TCW.TO: ) rating raised to buy
from neutral at UBS

Stock Market Money

($1=1.06 Canadian)
(Reporting by Bangalore newsroom, editing by Jeffrey Hodgson)

CANADA STOCKS-Higher resources may lift TSX; banks could drag