CANADA STOCKS-TSX may open lower on Europe, growth fears

May 21 (BestGrowthStock) – Toronto’s main stock index could open
lower on Friday on rising concerns that Europe’s debt crisis
could hurt global economic growth and the price of commodities
produced by many Canadian companies.

U.S. stock index futures fell as the recent sell-off
stemming from the euro zone debt crisis and U.S. financial
regulation has ruptured investor confidence, causing a flight
from risky assets. [.N]

Stocks slid further around the world on fears that Europe’s
debt crisis and tougher financial regulation will hurt a global
economic recovery. [MKTS/GLOB]

Sliding global markets overshadowed news that Canadian
inflation data came in slightly higher than expected, keeping
alive the possibility of a June interest rate hike by the Bank
of Canada. [ID:nN21149251]

Below is some news that could affect Toronto stock prices:

OIL FALLS

Oil prices fell towards $70 a barrel on Friday, haunted by
concerns that Europe’s debt crisis could hurt global economic
growth and slow energy demand. [O/R]

COPPER UP

Copper rose on Friday as gains in the battered euro
supported sentiment, but the rally in metals looked weak as the
debt crisis in Europe and weaker copper imports from the
metal’s top buyer China hit the demand outlook. [MET/L]

GOLD STEADY

Gold steadied in Europe on Friday, arresting a slide that
took it to two-week lows earlier in the session, as lower
prices tempted some buyers back to the market amid persistent
fears over the euro zone debt crisis. [GOL/]

CANADIAN DOLLAR FALLS

Canada’s dollar hit its weakest level in 14-weeks against
the U.S. dollar on Friday as European worries more than offset
slightly higher than expected Canadian inflation data that kept
alive the possibility of a June 1 interest rate hike. [CAD/]

CP RAILWAY UPS DIVIDEND

Canadian Pacific Railway Ltd (CP.TO: ) on Thursday said it
raised its quarterly dividend by 9 percent and increased its
2010 capital spending budget by C$70 million. [ID:nSGE64J0MD]

AGRIUM TO FOCUS ON RETAIL, POTASH EXPANSIONS

Agrium Inc (AGU.TO: ) plans to focus on enlarging its
existing potash operations and expanding its retail business,
Chief Executive Mike Wilson said on Thursday. [ID:nN20112807]

RIOCAN TO BUY RETAIL PROPERTIES IN TEXAS

RioCan Real Estate Investment Trust (REI_u.TO: ) on Thursday
said it agreed with U.S.-based Inland Western Retail Real
Estate Trust Inc to purchase eight retail properties in Texas
for about $53 million. [ID:nSGE64J0M4]

CANADA TOUGHENS CHEVRON DRILL RULES AFTER BP SPILL

A Canadian regulator tightened offshore drilling rules on
Thursday in response to the massive oil spill in the Gulf of
Mexico, forcing new restrictions on Chevron Corp’s (CVX.N: )
operations off Newfoundland. [ID:nN20163153]

TECK TO ADVANCE RED DOG MINE

Teck Resources (TCKb.TO: ) said on Thursday it will proceed
with an expansion of its Red Dog zinc mine in Alaska, avoiding
a potential closure that would have stripped out more than 5
percent of global zinc production for over a year.
[ID:nN20123124]

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.

* BCE Inc (BCE.TO: ) price target raised to $30 from $27 at
Scotia

* Boardwalk REIT (BEI_u.TO: ) price target raised to $41.25
from $39.50 at Scotia

* Biox Corp (BX.TO: ) coverage started with buy rating;
target price of $2.50 at Clarus

* Consolidated Thompson Iron Mines (CLM.TO: ) target price
raised to $13.90 from $10.50; buy rating at Desjardins

* Nexen (NXY.TO: ) rating raised to outperform at Macquarie

* San Gold (SGR.V: ) coverage started with sector performer
rating; price target of $6 at CIBC

Investment Tools

($1=1.07 Canadian)
(Reporting by Bangalore newsroom, editing by Jeffrey Hodgson)

CANADA STOCKS-TSX may open lower on Europe, growth fears