CANADA STOCKS-TSX looks set to open lower on commodities

April 27 (BestGrowthStock) – Toronto’s main stock index looked set
to open lower on Tuesday as commodity prices fell, weighed by
stronger U.S. dollar.

Wall Street is also seen opening lower after Germany
demanded new austerity measures from Greece. [.N]

Markets will also be closely watching Goldman Sachs’ (GS.N: )
CEO Lloyd Blankfein’s testimony before a Senate panel looking
into the subprime mess.

European shares snapped two-day rally on jitters over the
potential effect of Greece crisis on other euro zone
economies.

Asian equities fell with Chinese shares down more than 2
percent on fears that banks in China may be preparing for a
round of heavy fundraising

Here is some news that could affect stock prices:

OIL SLIPS ON STOCKPILES

Oil slipped below $84, pulled lower by expectations of a
rise in U.S. stockpiles and nagging concerns Greece’s economic
trauma could have knock-on effects on the wider economy and
demand for fuel. [O/R]

GOLD EASES

Gold softened a touch in Europe but held above $1,150 an
ounce as investment demand due to concern over sovereign risk
in the euro zone helped balance weakness in the euro and other
commodities. [GOL/]

COPPER SLIPS

Copper eased as the dollar rose and investors remained
cautious about a rescue package for debt-laden Greece, but
signs of improving demand helped cap losses. [MET/L]

C$ DIPS ON OIL

The Canadian dollar limped lower against the U.S. currency
on Monday, pressured by weaker oil prices as much of the market
was sidelined ahead of an interest rate decision by the U.S.
Federal Reserve this week. [CAD/]

NEXEN PROFIT UP

Nexen Inc (NXY.TO: ) said that first-quarter profit (Read more your timing to make a profit.) rose 37
percent on improving output from its Long Lake oil sands
project and higher oil prices. [ID:nN27241352]

NORBORD MISSES ESTIMATES

Wood-based panels producer Norbord Inc (NBD.TO: ) posted
first-quarter results that missed market estimates as severe
weather negatively impacted both costs and productivity at
almost all of the company’s operations. [ID:nSGE63J0GW]

AFRICAN BARRICK GOLD EARNINGS JUMP

African Barrick Gold Plc (ABGL.L: ), spun off from parent
firm Barrick Gold Corp (ABX.TO: ) said first-quarter earnings
jumped 143 percent in its first results. [ID:nLDE63P0VQ]

NUVO PAIN CREAM

Nuvo Research said (NRI.TO: ) that its painkiller cream was
available in the U.S, which could lead to payments of up to
US$100 million from marketing partner Covidien (COV.N: ).
[ID:nN27242206]

OPTI CANADA PRODUCTION

OPTI Canada Inc (OPC.TO: ) said its bitumen production
averaged about 18,700 barrels per day during the first-quarter
and said bitumen production is rising and the reservoir is
responding to consistent steam injection. [ID:nWNAB2393]

TRANSALTA US POWER PLANT

Electricity producer TransAlta Corp (TA.TO: ) said on Monday
it began talks with the state of Washington on moving the
Centralia coal-fired power plant to cleaner fuel to cut
greenhouse gas emissions. [ID:nN26215946]

WESTJET, DELTA ALLIANCE

WestJet Airlines Ltd (WJA.TO: ) said it has not signed an
alliance agreement with Delta Air Lines (DAL.N: ), but a
commercial relationship could occur in the future. The only
recently signed agreement between the two companies provided
WestJet with the option to acquire slots at LaGuardia Airport
in New York, which is still subject to regulatory approval.
[ID:nWEN3527]

CNR PROFIT UP

Canada’s biggest railroad, Canadian National Railway
(CNR.TO: ) posted a 21 percent jump in first-quarter net income
on Monday on improving freight volumes and sale of rail line
near Toronto. CN also increased its earnings estimate for the
year because of the stronger economy. [ID:nN21222356]

DAY4 ACQUISITION

Solar module maker, Day4 Energy Inc (DFE.TO: ), on Monday
said it agreed to buy privately held German photovoltaic
equipment maker ACI-ecotec GmbH & Co KG for up to 10.8 million
shares. [ID:nWNAB2164]

MI DEVELOPMENTS RE-ORGANIZATION

Real estate firm MI Developments Inc (MIMa.TO: ) said on
Monday its re-organization plan for horse track owner Magna
Entertainment Corp, in which it owns a major stake, has been
confirmed by the bankruptcy court. [ID:nWNAB2152]

OPEN TEXT BUYS BURNTSAND

Burntsand Inc (BRT.TO: ), a technology consultancy, on Monday
agreed to be bought by Open Text Corp (OTC.TO: ) (OTEX.O: ), a
provider of business content management software, for about
C$11 million. [ID:nSGE63P0TF]

RESEARCH ROUNDUP

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

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

* Artis REIT (AX_u.TO: ) coverage resumed with neutral
rating; price target of $12 at Macquarie

* Aurizon Mines (ARZ.TO: ) price target cut to $5.75 from
$6.50; rating outperform at Raymond James

* Copper Mountain Mining (CUM.TO: ) price target raised to
$4 from $3.50; rating strong buy at Raymond James

* Crocodile Gold (CRK.TO: ) price target cut to $3 from
$3.40; rating outperform at Raymond James

* Finning International (FTT.TO: ) price target raised to
$22.50 from $20; rating outperform at Raymond James

* Lake Shore Gold (LSG.TO: ) price target cut to $3.70 from
$4.10; rating outperform at Raymond James

* Pacific Rubiales Energy (PRE.TO: ) price target raised to
$30 from $26; rating strong buy at Raymond James

* San Gold (SGR.V: ) price target cut to $4.75 from $5.20;
rating outperform at Raymond James

* Toromont Industries from outperform at Raymond James

Investment Analysis

(Reporting by Bangalore newsroom, editing by Savio D’Souza
and Jeffrey Hodgson)

CANADA STOCKS-TSX looks set to open lower on commodities