CANADA STOCKS-TSX may open firmer as commodities hold higher

July 15 (BestGrowthStock) – Toronto’s main stock index could open
firmer on Thursday as commodity price held higher even after
China said its economic growth eased in the second quarter.

The Reuters-Jefferies CRB index (.CRB: ), a global
commodities benchmark, was up 0.45 percent in early trade.

Wall Street is poised for a higher open after
better-than-expected quarterly profits from JPMorgan (JPM.N: )
allayed concerns about the strength of the financial sector.
[.N]

But U.S. stock index futures trimmed gains after a slew of
data, including weekly initial jobless claims, June producer
prices and the New York Federal Reserve Bank’s manufacturing
activity index.

Canadian equity futures also pointed to a higher open.
(0#SXF:: )

European shares turned positive as drugmakers advanced, led
higher by GlaxoSmithKline (GSK.L: ) after a U.S. panel of health
experts voted to keep its diabetes pill Avandia on the market.

Markets in Asia were down on profit-taking and as the
Chinese data injected caution among traders.

Here is some news that could affect stock prices:

CHINESE DATA

China’s economy (Read more about the fastest growing economy.) cooled in the second quarter, a slowdown
that is likely to extend over the rest of the year as Beijing
steers monetary and fiscal policy back to normal after a record
credit surge to counter the global crisis. [ID:nTOE66D06L]

OIL RISES

Oil reversed early losses and rose towards $78 a barrel on
Thursday after a bounce in equities overshadowed earlier news
pointing to flatter economic growth in the world’s number two
oil consumer China. [O/R]

COPPER EDGES LOWER

Copper edged lower on Thursday as investors worried about a
slowdown in the pace of global economic growth, even amid
relief in some quarters that China’s economy (Read more about the fastest growing economy.) was slowing but
not heading for sharp downturn. [MET/L]

GOLD RISES

Gold rose in Europe on Thursday as investors ditched assets
perceived as risky after the Federal Reserve suggested more
measures may be needed to help the U.S. economy and after soft
Chinese growth data. [GOL/]

Canadian stocks to watch include:

NEXEN INC (NXY.TO: )

Nexen Inc (NXY.TO: ), Canada’s No. 5 independent oil company,
reported a market-beating quarterly profit driven by higher oil
and gas prices and said its Long Lake oil sands project in
northern Alberta is approaching breakeven. [ID:nSGE66E0EN]

OPTI CANADA INC (OPC.TO: )

Opti Canada Inc (OPC.TO: ) posted a wider-than-expected
quarterly loss, hurt by higher operating expenses and
unfavorable currency rates, despite strengthening oil prices
and higher production. [ID:nSGE66E0GB]

GUESTLOGIX INC (GXI.TO: )

GuestLogix Inc (GXI.TO: ), which sells onboard retail
technology to airlines and railways, posted a rise in quarterly
profit helped by an increase in the number of passenger trips.
[ID:nSGE66E0HO]

HYDROGENICS CORP (HYG.TO: )

Fuel-cell maker Hydrogenics Corp (HYG.TO: ) said it secured
an order from Siemens AG (SIEGn.DE: ) for an electrolyzer and
related devices. [ID:nSGE66E0GW]

RESEARCH ROUNDUP

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

* Kirkland Lake Gold Inc (KGI.TO: ) price target raised to
C$9.50 from C$9; rating market perform at Raymond James

Investing

($1=$1.03 Canadian)
(Reporting by Bangalore newsroom, editing by Bhaswati
Mukhopadhyay and Jeffrey Hodgson)

CANADA STOCKS-TSX may open firmer as commodities hold higher