CANADA STOCKS-TSX may open higher on strong US corporate results

Oct 21 (BestGrowthStock) – Toronto’s main stock index looked set to
open higher on Thursday after investor sentiment got a boost
from a suite of strong corporate earnings reports in the United
States.

FACTORS TO WATCH

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

* U.S. stock index futures pointed to a higher start,
helped by firm results from Caterpillar Inc (CAT.N: ), online
auctioneer eBay Inc (EBAY.O: ) and Netflix Inc (NFLX.O: ), the DVD
rental and movie streaming service. [.N]

* European stocks edged up, with phone maker Nokia
(NOK1V.HE: ) rising after forecast-beating results, though
economic worries rekindled by news of slowing growth in the
euro zone capped index gains. [.EU]

* Markets in Asia were mixed with Nikkei average and
Shanghai’s benchmark down 0.05 percent and 0.7 percent
respectively.

COMMODITY PRICE MOVES

* The Thomson Reuters-Jefferies CRB index (.CRB: ), a global
commodities benchmark, rose 0.33 percent in early trade.

* Oil slipped back towards $82 per barrel, consolidating
after a sharp rise on a slight slowing in Chinese economic
growth and following news of another build in U.S. crude oil
stocks. [O/R]

* Gold steadied above $1,340 an ounce, as waning investor
interest was offset by a pull-back in the dollar ahead of a key
G20 meeting and after currency remarks from U.S. Treasury
Secretary Tim Geithner. [GOL/]

* Volatile copper rose, as investors mulled over the latest
economic growth data from top metals consumer China, while a
weaker dollar offered support. [MET/L]

CANADIAN STOCKS TO WATCH

* Bombardier Inc. (BBDb.TO: ): Canada’s aviation regulatory
body issued an emergency safety directive this week covering
600 of the aircraft maker’s regional jets following two
landing-gear malfunctions, the WSJ reported. [ID:nN20211536]

* Precision Drilling Corp. (PD.TO: ): The oil and gas well
drilling company, said on Thursday its net earning fell 15
percent, primarily due to higher foreign exchange gain recorded
last year. [ID:nN20241215]

* Canacol Energy (CNE.V: ). The company on Thursday said net
proven and probable oil reserves at its Capella well in
Colombia doubled from last year. Net after royalty proven and
probable reserves doubled to 4.2 million net barrels, the
company said in a statement. [ID:nSGE69K0FT].

ANALYST RECOMMENDATIONS

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

* Alange Energy (ALE.V: ) target price raised to C$0.80 from
C$0.50; keeps outperform rating at Raymond James

($1= $1.02 Canadian)
(Reporting by Bangalore Newsroom; Editing by Jeffrey Hodgson)

CANADA STOCKS-TSX may open higher on strong US corporate results