CANADA STOCKS-TSX may open lower on German ban jitters

May 19 (BestGrowthStock) – Toronto’s main stock index looked set to
open lower on Wednesday after a surprise move by Germany to ban
risky bets on bonds, stocks and credit protection in a
tentative crack down on speculative trading.

European and Asian equities fell sharply with banking
stocks being the top losers.

Oil was down about 2 percent, earlier touching its lowest
in more than seven months, pressured by high U.S. stockpiles.

Gold slipped as low as US$1,205.60 an ounce, caught up in
selling of other assets and as confidence in the euro waned.

But news U.S. inflation remains tame could help support
stocks. U.S. consumer prices unexpectedly fell in April for the
first time in a year, with the core annual rate recording its
smallest gain since 1966. [ID:nN19219213]

Here is some news that could affect stock prices:

OIL DROPS

Oil fell to $68 a barrel after touching its lowest in more
than seven months on Wednesday, pressured by high U.S.
stockpiles and as concern over tighter financial regulation
dampened appetite for riskier assets. [O/R]

BASE METALS BUCKLE

Industrial metal prices slid on Wednesday in a sell-off
triggered by a German ban on risky bets in the bond, stock and
credit markets and the stronger dollar against the euro. Prices
of steel ingredients zinc and nickel tumbled 5 percent. [MET/L]

GOLD FALLS

Gold fell in Europe on Wednesday, caught up in selling of
other assets like stocks and the euro, after Germany’s move to
ban some naked shorting and after German Chancellor Angela
Merkel said the euro was in danger. [GOL/]

CANACCORD Q4 PROFIT TRIPLES

Canaccord Financial (CF.TO: ) on Wednesday reported
higher-than-expected fourth-quarter results, which included a
profit that more than tripled from the previous year.
[ID:nN19200313]

SEARS CANADA PROFIT SLIPS

Sears Canada (SCC.TO: ) said on Tuesday first-quarter profit (Read more your timing to make a profit.)
fell 30 percent, and announced a C$3.50-per-share special
dividend and a possible share buyback that would bring parent
Sears Holdings Corp (SHLD.O: ) closer to full ownership of the
company. [ID:nN18181261]

RESEARCH IN MOTION, PRISM SETTLE PATENT DISPUTE

Prism Technologies said on Tuesday it has reached a
settlement with Research in Motion (RIM.TO: ) after it accused
the BlackBerry maker of violating one of its patents.
[ID:nN18125009]

EOG TO BUY BACKER OF CANADIAN LNG PROJECT

EOG Resources Inc (EOG.N: ), a U.S. independent oil explorer
with a stake in the Horn River shale gas field in northern
British Columbia, agreed on Tuesday to buy the backer of a
Canadian liquefied natural gas project for an undisclosed
price. [ID:nN18174444]

CANADIAN NATURAL WARY OF OIL SANDS INFLATION

Canadian Natural Resources Ltd (CNQ.TO: ) is wary of
inflation as it works out the details of the next phase of its
Horizon oil sands project after the costs of the initial stage
surged 43 percent over budget, the company’s president said on
Tuesday. [ID:nN18161670]

COASTAL CONTACTS SUES CURRENT DIRECTOR

Coastal Contacts Inc (COA.TO: ) said on Wednesday it sued one
of it directors on allegations of, among other things, breach
of fiduciary duties and failure to act honestly and in good
faith with a view to the best interests of Coastal.
[ID:nCJX853CCa]

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.

* Boardwalk REIT (BEI_u.TO: ) target price raised to $42 from
$37; rating market perform at Raymond James

* Crocodile Gold (CRK.TO: ) target price cut to $2.70 from
$3; rating outperform at Raymond James

* Westernzagros Resources (WZR.V: ) rating cut to neutral
from buy at UBS

Investment Analysis

($1=$1.05 Canadian)
(Reporting by Bangalore newsroom, editing by Jeffrey Hodgson)

CANADA STOCKS-TSX may open lower on German ban jitters