CANADA STOCKS-TSX may open lower as commodity prices struggle

May 13 (BestGrowthStock) – Toronto’s main stock index could open
lower on Thursday as commodity prices, including oil, struggled
to make gains.

Wall Street was also set for a modest start as U.S. stock
index futures trimmed gains after data showed applications for
unemployment insurance fell modestly in the latest week, while
the number of people still drawing benefits unexpectedly rose.
[.N]

Tech stocks will be in focus after Cisco (CSCO.O: ) reported
better-than-expected results, but its CEO said there was still
need for caution.

European stocks were higher after forecast-beating results
from J Sainsbury (SBRY.L: ) and BT Group Plc (BT.L: ).

Investors also kept a close eye on the euro zone debt
problems, though some concerns eased after Portugal agreed to
tough new austerity measures.

Major Asian equities rose with the Nikkei and Shanghai
Composite Index up more than 2 percent.

Here is some news that could affect stock prices:

OIL

Oil prices were mixed on Thursday, with the benchmark U.S.
crude contract pressured below $75 a barrel by record
stockpiles in the U.S. Midwest, while London-Brent crude held
above $81 a barrel. [O/R]

COPPER STEADY

Copper was steady on Thursday as investors weighed relief
over new austerity steps pledged by Portugal and Spain to
tackle their debt against concerns about the potential impact
the austerity will have on growth. [MET/L]

GOLD POISED TO GAIN

Gold steadied on Thursday, but analysts expect the precious
metal to extend gains to new records over coming days as waves
of investor money come flooding into the market looking for
safety. [GOL/]

C$ RISES VS US$

The Canadian dollar rose to its highest in more than a week
against the U.S. dollar on Thursday morning, supported by a
dash away from the euro. [CAD/]

GILDAN PROFIT RISES

Gildan Activewear (GIL.TO: ) reported a higher quarterly
profit, handily topping estimates helped by lower commodity
costs and improved sales. It also boosted its year-end sales
forecast. [ID:nN13261938]

FNX MINING POSTS PROFIT

FNX Mining Co (FNX.TO: ) posted a first-quarter profit (Read more your timing to make a profit.) on
Thursday, on the back of a strong rebound in copper and nickel
prices. [ID:nN13229633]

CRESCENT POINT TO BUY SHELTER BAY

Crescent Point Energy Corp (CPG.TO: ) said on Wednesday it
will pay C$1.1 billion, including debt, to buy the 79 percent
of private oil producer Shelter Bay Energy it doesn’t own to
boost its holdings in the prolific Bakken oil field in
Saskatchewan. [ID:nN12221366]

HONEYWELL TO BUY MATRIKON HONEYWELL

International Inc (HON.N: ) said on Thursday that it is
buying software maker Matrikon Inc (MTK.TO: ) for $142 million.
[ID:nN13259750]

AETERNA LOSS NARROWS

Drugmaker Aeterna Zentaris Inc’s (AEZ.TO: ) first-quarter
loss narrowed, due to lower administrative and research and
development costs. [ID:nN13204381]

NEO MATERIAL POSTS PROFIT

Neo Material Technologies Inc (NEM.TO: ), a maker of magnetic
material and magnets, posted higher-than-expected quarterly
profit, driven mainly by robust demand for its specialty
materials. [ID:nSGE64C0GG]

SILVER WHEATON PROFIT RISES

Silver Wheaton Corp’s (SLW.TO: ) first-quarter profit (Read more your timing to make a profit.) nearly
tripled, helped by a 45 percent increase in average realized
silver prices. [ID:nSGE64B0LW]

CAPSTONE MINING POSTS PROFIT

Capstone Mining Corp’s (CS.TO: ) first-quarter profit (Read more your timing to make a profit.) trailed
estimates, hurt by production constraints at one of its mines,
and the copper producer expressed caution on its ability to
reach its 2010 production outlook. [ID:nSGE64B0LD]

CASCADES RESULTS

Cascades Inc (CAS.TO: ) reported lower first-quarter results,
hurt by a sharp rise in cost of raw materials, and the
packaging and paper-products company expects a rebound in
profitability by the second quarter. [ID:nSGE64C0EE]

CROCOTTA ENERGY’S LOSS NARROWS

Oil and gas company Crocotta Energy Inc (CTA.TO: ) posted a
narrower quarterly loss, helped by a 24 percent rise in
production and higher commodity prices. [ID:nSGE64C0EW]

AURA MINERALS LOSS SLIMS

Exploration and development company Aura Minerals Inc
(ORA.TO: ) posted a narrower quarterly loss, as gold production
grew 32 percent. [ID:nSGE64B0LU]

RESEARCH ROUNDUP

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

Note: All values in RESEARCH ROUNDUP in Canadian currency,
unless otherwise stated.

* Artis REIT (AX_u.TO: ) price target raised to $12.50 from
$12 rating outperform at Macquarie

* Aurizon Mines (ARZ.TO: ) rating cut to market perform from
outperform at Raymond James

* Canadian Apartment Properties (CAR_u.TO: ) price target
raised to $13.75 from $13.25; rating underperform at Raymond
James

* Canyon Services (FRC.TO: ) rating raised to strong buy from
outperform at Raymond James

* Eastern Platinum (ELR.TO: ) rating raised to outperform
from market perform at Raymond James

* Paramount Resources (POU.TO: ) price target raised to $24
from $22; rating overweight at Thomas Weisel

* Taseko Mines (TKO.TO: ) rating raised to outperform from
market perform at Raymond James

* Total Energy (TOT.TO: ) price target raised to $10 from $9;
rating overweight at Thomas Weisel

Investing Advice

($1=$1.02 Canadian)
(Reporting by Bangalore newsroom, editing by Savio D’Souza and
Jeffrey Hodgson)

CANADA STOCKS-TSX may open lower as commodity prices struggle