CANADA STOCKS-TSX may open lower as commodities weigh

July 16 (BestGrowthStock) – Toronto’s main stock index could open
lower on Friday as weaker commodity prices and fears that the
global economic recovery is slowing offset unexpectedly strong
earnings from some U.S. companies.

U.S. stock index futures were little changed on Friday
after General Electric Co’s (GE.N: ) and Bank of America’s
(BAC.N: ) profits topped expectations but revenues declined,
underscoring corporate America’s struggles against headwinds in
the economic recovery. [.N]

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

European markets inched higher with banking stocks
reversing early losses. Asian shares were mixed.

Here is some news that could affect stock prices:

COMMODITIES WEAKEN

The Reuters-Jefferies CRB index (.CRB: ), a global
commodities benchmark, fell 0.12 percent in early trade.

COPPER EASES

Copper prices eased on Friday as worries about economic
growth and demand dominated market sentiment, but a softer
dollar was expected to limit losses. [MET/L]

GOLD MOVES LOWER

Gold eased a touch in Europe on Friday, under pressure from
lacklustre investment and jewellery demand over the seasonally
soft summer months, with a further outflow from the world’s
largest gold ETF undermining sentiment. [GOL/]

C$ FALLS VS US$

Canada’s dollar fell against its U.S. counterpart on
Friday, as growing concerns about the strength of the U.S.
economic recovery and the pace of growth in China dampened
demand for commodity-based currencies. [CAD/]

Canadian stocks to watch include:

PLATINUM GROUP METALS LTD (PTM.TO: )

Mineral explorer Platinum Group Metals Ltd (PTM.TO: ) said
Thursday it was exploring strategic alternatives including sale
of the company. [ID:nSGE66E0LF]

TEKMIRA PHARMACEUTICALS CORP (TKM.TO: )

Two biopharmaceutical companies – Tekmira Pharmaceuticals
Corp (TKM.TO: ) and AVI BioPharma Inc (AVII.O: ) – won contracts on
Thursday with the U.S. Department of Defense for the
development of treatments for hemorrhagic fever.
[ID:nN15170828]

TECK RESOURCES (TCKB.TO: )

Teck Resources (TCKb.TO: ) said on Thursday that no
conclusion had been reached on the cause of an explosion at its
mine last month, and it did not have an update on production
guidance. [ID:nSGE66E0M5]

TERRA ENERGY CORP (TT.TO: )

Terra Energy Corp (TT.TO: ) said on Thursday it will buy
substantially all of Fortress Energy’s (FEI.TO: ) oil and gas
properties, including the Square Creek assets in Western
Canada, taking its total current production to nearly 8,000
barrels of oil equivalent per day (boe/d). [ID:nSGE66E0LR]

URANIUM ONE (UUU.TO: )

Canada’s Uranium One (UUU.TO: ) said its board and a panel of
independent directors approved the sale of a controlling stake
in the company to Russian state-owned miner ARMZ in exchange
for stakes in two mines in southern Kazakhstan. [ID:nSGE66E0LP]

RESEARCH ROUNDUP

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

* Astral Media Inc (ACMa.TO: ) price target cut to C$44 from
C$45; rating outperform at RBC

* Bankers Petroleum Ltd (BNK.TO: ) price target cut to C$10
from C$10.50; rating outperform at BMO

* Greystar Resources (GSL.TO: ) price target cut to C$5.50
from C$6.50; rating sector perform at RBC

* Opti Canada Inc (OPC.TO: ) rating cut to market perform
from outperform at BMO

* Nexen Inc (NXY.TO: ) rating cut to market perform from
outperform at BMO

* Thompson Creek Metals Co (TCM.TO: ) price target cut to
C$17.20 from C$20.40 at Desjardins

($1=$1.03 Canadian)

(Reporting by Bangalore newsroom, editing by Bhaswati
Mukhopadhyay and Jeffrey Hodgson)

CANADA STOCKS-TSX may open lower as commodities weigh