CANADA STOCKS-TSX could open lower on soft commodities

TORONTO, April 13 (BestGrowthStock) – Toronto’s main stock index
could open lower on Tuesday as weaker commodity prices pressure
Canada’s resource-dominant shares.

The index could also follow slipping U.S. stock futures as
markets turned cautious ahead of key earnings and after Alcoa’s
results matched Wall Street estimates. [.N]

Toronto’s main stock index ended down slightly on Monday,
pulling back from an 18-month high as initial optimism over a
Greek debt deal faded, while retreating metal prices pulled
down mining issues.

Here is some news that could affect stock prices:

OIL DIPS

Oil fell for a fifth straight session to below $84, almost
erasing April’s gains, as a forecast increase in U.S. crude
stocks highlighted rising supplies and weak demand in the
world’s largest energy consumer. [O/R]

GOLD SLIPS

Gold eased in Europe as the euro stalled in its run higher
versus the dollar, with doubts emerging over how Greece will
use a bailout package agreed by European finance ministers.
[GOL/]

PALM ACQUISITION TALKS

China’s Huawei Technologies [HWT.UL] has been tapped by
money-losing smartphone maker and Research In Motion (RIM.TO: )
rival Palm Inc (PALM.O: ) for preliminary acquisition talks, a
source familiar with the matter said. [ID:nTOE63C070]

CANADA HOME PRICES EDGE UP

The price of new homes in Canada edged up 0.1 percent in
February from January, Statistics Canada said on Tuesday.
[ID:nSCLDFE60B]

CANADA TRADE SURPLUS RISES

Canada posted a better-than-expected trade surplus of C$1.4
billion ($1.4 billion) in February from a revised C$754 million
surplus in January as auto exports to the U.S. outpaced imports
on the month. [ID:nSCLDFE60A]

VITERRA CONFIRMS JV SALE

Canadian grains firm Viterra Inc (VT.TO: ) said it is selling
its 50 percent stake in the Australian Bulk Alliance (ABA)
joint venture to an Australian unit of Japan’s Sumitomo Corp
(8053.T: ) for A$8.6 million ($8 million). [ID:nSYU009709]

CANADIAN SOLAR WINS CONTRACT OFFERS

Chinese solar-cell maker Canadian Solar Inc (CSIQ.O: ) said
it won contract offers for 176 megawatt of power projects from
the Ontario Power Authority. [ID:nSGE63C0FI]

RESEARCH ROUNDUP

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

* UBS raises Canadian Oil Sands Trust (COS_u.TO: ) to buy
from neutral

* RBC raises Cineplex Galaxy Income Fund (CGX_u.TO: ) price
target to C$23 from from C$21; rating sector perform

* UBS raises Teck Resources (TCKb.TO: ) price target to
C$53.50 from C$50.50; rating buy

* UBS cuts Equinox Minerals (EQN.TO: ) to neutral from buy

* UBS cuts HudBay Minerals (HBM.TO: ) price target to C$15
from C$16, rating neutral

* Genuity raises Silver Wheaton (SLW.TO: ) price target to
C$23 from C$21.50, rating buy

Stock Market Report

($1=$1.002 Canadian)
(Reporting by Claire Sibonney, Editing by Chizu Nomiyama)

CANADA STOCKS-TSX could open lower on soft commodities