CANADA STOCKS-TSX may open lower after China hikes rates

Oct 19 (BestGrowthStock) – Toronto’s main stock index could open
lower on Tuesday after China, the world’s biggest resource
consumer, surprised investors with its first increase of
interest rates in nearly three years


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

* U.S. stock index futures pointed to a weaker start as Bank
of America’s result showed net loss quadrupled from a year ago,
while iPad maker Apple’s quarterly sales of the gadget and
gross margins came in below expectations [.N]

* Canada’s central bank is expected to hold its key policy
rate at 1 percent in its scheduled announcement at 9 a.m. (1300
GMT), while the tone of its statement will be closely followed
for further direction. [ID:nN15144891]

* European shares edged up led by industrial and financial
stocks [.EU]

* Asian markets were mixed, with weakness in the technology
and commodity sectors limiting the gains


* The Thomson Reuters-Jefferies CRB index (.CRB: ), a global
commodities benchmark, fell 0.84 percent in early trade.

* Oil fell, retracing part of the previous session’s gain,
as the dollar climbed and traders awaited results from U.S.
investment banks later in the day for signs of economic
strength in the major oil consumer. [O/R]

* Gold held steady near $1,370 an ounce in Europe as
expectations for further monetary easing in the United States
continued to support prices, though gains in the dollar put the
brakes on the metal’s run higher. [GOL/]

* Copper tumbled from highs on Tuesday as top consumer
China said it would raise its benchmark lending rate and a
stronger dollar weighed. [MET/L]


* Potash Corp. (POT.TO: ). The CEO of Yara International said
that the Norwegian fertiliser firm was open to buying assets
from Potash. [ID:nLDE69H07O]

* Premium Brands Holdings Corp. (PBH.TO: ). The food products
maker said it bought specialty sandwich maker SK Food Group Inc
for about $42.5 million, the fourth deal this year for the
Canadian food products maker. [ID:nSGE69H0N6]

* Exile Resources (ERI.V: ): The junior oil and gas explorer
said use of a new, cheaper method to ship crude oil will lead
to a delay in first production at its Akepo field development
project in Nigeria. [ID:nSGE69H0N2]


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

* Denison Mines (DML.TO: ) rating cut to outperform from
strong buy; ups price target to C$2.40 from C$2.30 at Raymond

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

CANADA STOCKS-TSX may open lower after China hikes rates