CANADA STOCKS-TSX may open lower on commodities, Greece

April 28 (BestGrowthStock) – Toronto’s main stock index could open
lower on Wednesday, weighed by weak commodity prices as the
U.S. dollar hit a one-year high versus the euro and as
investors fret over Greece and Portugal’s debt problems.

European equities hit a seven-week low as banks took a
pounding on concerns about euro zone debt contagion.

Wall Street is set for a slightly higher open, after
previous session’s steep sell-off, ahead of the Federal
Reserve’s interest rate decision and statement on the economy.
[.N]

The Fed is expected to conclude a two-day policy meeting by
keeping interest rates near zero and repeating its vow to keep
rates low for an extended period.

Asian stocks fell with the news China would place a
moratorium on capital raising by real estate firms as part of a
broader campaign to rein in property price rises.

Here is some news that could affect stock prices:

OIL FALLS

Oil fell for the third straight session taking losses this
week to 4 percent on excess crude supplies in the United States
and widespread fears a possible debt default in Greece could
derail the recovery. [O/R]

COPPER AT MONTH LOW

Industrial metals fell for a second day on Wednesday, with
copper dropping to a one-month low after the dollar hit a
one-year high versus the euro and investors fretted over Greece
and Portugal’s debt problems. [MET/L]

GOLD EASES

Gold eased in Europe on Wednesday from Tuesday’s 2010 high
as the dollar reached a one-year peak against the euro, but the
metal remains firmly supported by fears euro zone sovereign
risk is spreading. [GOL/]

TMX GROUP PROFIT UP

Toronto Stock Exchange operator TMX Group Inc (X.TO: ) posted
a first-quarter profit (Read more your timing to make a profit.) that beat analysts’ estimate by a cent,
helped by higher revenue from issuer services, cash markets
equity and fixed income trading. [ID:nSGE63R0FP]

BARRICK GOLD PROFIT JUMPS

Gold producer Barrick Gold Corp (ABX.TO: ) reported
better-then-expected first-quarter earnings on increased
production, lower total cash costs and higher realized prices
for both gold and copper. IT posted adjusted earnings of 75
U.S. cents a share, up from 34 U.S. cents a year earlier.
[ID:nN27154316]

CANADIAN PACIFIC PROFIT UP

Canadian Pacific Railway Ltd (CP.TO: ) reported first-quarter
net income of C$100 million, an increase of 74 percent from
C$57 million a year ago. The company posted adjusted earnings
of 60 cents per share, on revenue of C$1.2 billion for the
quarter. [ID:nN28168960]

JEAN COUTU POSTS PROFIT

Jean Coutu Group (PJCa.TO: ) returned to a fourth-quarter
profit, benefiting from higher prescription drug sales, but the
Canadian drug store chain narrowly missed expectations for
revenue. [ID:nN28111465]

CGI QUARTERLY PROFIT CLIMBS

CGI Group Inc (GIBa.TO: ), Canada’s biggest computer
consulting company, posted a 4.9 percent increase in quarterly
profit, driven by improvements in its systems integrations and
consulting business. [ID:nN28130961]

ROGERS EARNINSG RISE

Rogers Communications Inc (RCIb.TO: ) posted a 23 percent
rise in first-quarter earnings on Wednesday, driven by growth
in its wireless, cable TV and media businesses.
[ID:nN28168151]

HYDROGENICS SETTLEMENT

Fuel-cell maker Hydrogenics Corp reached a settlement with
American Power Conversion Corp and said under the terms of the
settlement, APC has paid Hydrogenics US$1.2-million.
[ID:nWNAB2978]

FIRSTSERVICE PROFIT UP

Real estate services company FirstService Corp reported
first-quarter adjusted earnings of 15 U.S. cents a share,
compared to 8 U.S. cents a year ago. The company posted revenue
of US$402.4 million for the quarter. [ID:nWNAB3053]

SIMON CUTS VOTING STOCK IN GENERAL GROWTH BID

Simon Property Group Inc (SPG.N: ) has agreed to take a lower
percentage voting stake in General Growth Properties Inc
(GGP.N: ) as it tries to win over its rival into accepting its
recapitalization offer, a source familiar with the matter said
on Tuesday. Simon, the largest U.S. mall owner, met with
General Growth’s board last week to persuade them to choose its
offer over a competing proposal led by Brookfield Asset
Management (BAMa.TO: ). [ID:nN27127786]

LIONS GATE POISON PILL VOID

Investor Carl Icahn said on Tuesday Canadian authorities
have invalidated Lions Gate Entertainment Corp’s (LGF.N: ) poison
pill designed to thwart his US$7-a-share hostile bid.
[ID:nN27132398]

SUNCOR REFINERY

A truck at Suncor Energy Inc’s (SU.TO: ) Montreal refinery
exploded on Tuesday, sending eight people to hospital but
having no impact on the plant’s operations, the company said on
Tuesday. [ID:nN27127725]

HUSKY PROFIT UP

Canada’s No. 3 oil exploration and refining company Husky
Energy Inc (HSE.TO: ) said on Tuesday its first-quarter profit (Read more your timing to make a profit.)
rose 5 percent as oil prices strengthened even as output
dropped and refining margins sagged. [ID:nN19202831]

DELTA, WESTJET ALLIANCE TALKS

Delta Air Lines (DAL.N: ) said on Tuesday it is in talks with
WestJet Airlines Ltd (WJA.TO: ) on an alliance but that no deal
has been reached. Last week Delta CEO Richard Anderson said
during an earnings conference call that an alliance pact had
been reached with WestJet. But WestJet put out a statement late
on Monday saying that no such agreement has been signed
although a “commercial relationship could occur in the future.”
[ID:nN2714937]

IESI-BFC PROFIT UP

Waste management company IESI-BFC Ltd (BIN.TO: ) posted
higher first-quarter earnings on Tuesday, helped partly by a
rise in recycled commodity prices. [ID:nSGE63Q0M3]

TIMBERWEST BOUGHT DEAL

TimberWest Forest Corp (TWF_u.TO: ) on Tuesday said it would
raise C$60 million in a discounted bought deal financing and
use the proceeds mainly to repay debt. The timber and land
management company said it would offer 12 million stapled units
at C$5 each, a discount of about 9 percent. [ID:nSGE63Q0KQ]

VITRAN LOSS NARROWS

Transportation company Vitran Corp (VTN.TO: ) (VTNC.O: ) on
Tuesday posted a narrower first-quarter loss that beat
estimates, helped by reduced loss from operations and higher
shipments at its less-than-truckload segment. [ID:nSGE63Q0JU]

RESEARCH ROUNDUP

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

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

* Detour Gold Corp (DGC.TO: ) commenced with rating buy;
price target $25.50 at UBS

* Grande Cache Coal (GCE.TO: ) price target cut to $9.70
from $9.90; rating buy at UBS

* Pan Orient Energy Corp (POE.V: ) price target raised to
$8.35 from $6.75; rating buy at UBS

* Norbord Inc (NBD.TO: ) price target raised to $24 from $20;
rating outperform at Raymond James

Stock Market Analysis

(Reporting by Bangalore newsroom, editing by Savio D’Souza
and Jeffrey Hodgson)

CANADA STOCKS-TSX may open lower on commodities, Greece