CANADA STOCKS-TSX may open higher on copper, Greece

TORONTO, March 1 (BestGrowthStock) – Canada’s main stock market
index may open higher on Monday on surging copper prices and
signs that Greece’s debt troubles could be easing.

Copper hit its highest in more than five weeks on Monday,
after a massive earthquake in top producer Chile shut up to one
fifth of the country’s output, stoking speculation the metal
could revisit a 2010 peak.[ID:nSGE62000O]

Greece may soon announce new steps to cut its budget
deficit, a government minister said on Sunday, amid signs that
Athens might be nearing a deal with European Union governments
to ease the Greek debt crisis. [ID:nLDE61R0BX]

Toronto’s main stock index finished flat on Friday as key
financial and resource shares put in a mixed performance, while
U.S. economic data reinforced views of tepid growth this year.

Here is some of the news that may affect the market.


Gold retreated from highs in Europe on Monday to trade
little changed from the previous session as the euro
surrendered gains versus the dollar, but prices were
underpinned by strength in other commodities. [ID:nLDE6200VX]


Mining group Xstrata (XTA.L: ) reached a labor agreement with
office, technical, and clerical workers at its Sudbury nickel
operations in Canada, heading off a potential strike, the firm
said on Monday. [ID:nLDE6200BU]


Global miner Rio Tinto (RIO.L: ) will increase its stake in
Canada’s Ivanhoe Mines (IVN.TO: ) by 2.7 percent to 22.4 percent
for $233 million, in a move tied to plans to jointly develop
the giant Oyu Tolgoi copper mine in Mongolia.[ID:nSGE62000K]


The Canadian government on Friday said it will propose
changes to the tax laws to clarify the treatment of special
trusts that some companies create to provide health and life
insurance benefits to employees. [ID:nN26121043]


FNX Mining (FNX.TO: ) is considering restarting dormant
nickel production and seeking acquisitions, but both plans are
contingent on Brazilian miner Vale (VALE5.SA: ) resolving a
seven-month old strike at its Sudbury operations, FNX’s CEO
said on Friday. [ID:nSGE61P0I1]


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

* Canaccord Adams raises Research In Motion (RIMM.O: ) target
price to $100 from $95; Keeps Buy rating

* Thomas Weisel cuts Mullen Group Ltd (MTL.TO: ) price target
to C$17 from C$19; Keeps Overweight rating

* Raymond James raises Wajax Income Fund (WJX_u.TO: ) target
price to C$24 from C$23; Rating Market Perform
($1=$1.06 Canadian)

Investment Research

(Reporting by Scott Anderson; Editing by Theodore d’Afflisio)

CANADA STOCKS-TSX may open higher on copper, Greece