CANADA STOCKS-TSX may open lower on U.S. growth concerns

Aug 13 (BestGrowthStock) – Toronto’s main stock index looked set to
open lower on Friday after fresh data suggested economic growth
in the United States, Canada’s largest export market, remains


* Canadian equity futures (0#SXF:: ) pointed to a lower

* U.S. stock index futures briefly extended losses after
data showed retail sales rose in July, but gains were
concentrated in auto and gas station sales, suggesting the
momentum in consumer spending remained tame. [.N]

* European shares turned negative, as falls in retailers
outweighed gains in the miners.

* Most markets rose in Asia with the Australian index
bouncing higher after three days of heavy losses and Nikkei
inched up drawing support from an apparent halt in the yen’s
advance against the dollar.


* The Thomson Reuters-Jefferies CRB index (.CRB: ), a global
commodities benchmark, rose 0.08 percent in early trade.

* Oil hovered near $76 a barrel after a three-day price
slide as robust euro zone growth data was partly eclipsed by
lingering doubts on the outlook for global fuel demand after
equities turned negative. [O/R]

* Gold climbed to a one-month high in Europe on Friday,
extending the previous session’s rise, as investors spooked by
a raft of disappointing U.S. economic data turned to the metal
as a safe store of value. [GOL/]

* Copper reversed earlier gains on Friday, after the euro
tumbled versus the dollar and European equities turned negative
as the market awaited key U.S. data for more clues about the
health of world’s biggest economy. [MET/L]


* Research In Motion (RIM.TO: ) (RIMM.O: ). The maker of
BlackBerry smartphones has assured India of giving access to
its messenger service and is working to address the
government’s security worries, a senior security official said
on Friday. [ID:nBMA008250]

* Cameco Corp (CCO.TO: ). The top Canadian uranium producer
reported a weaker second-quarter operating profit on Friday, as
results were hurt by lower uranium sales volumes and a lower
realized uranium selling price. [ID:nN05169592]

* Loblaw Cos (L.TO: ). Canada’s biggest grocery store chain
said on Thursday it will close its Halifax distribution center
in Nova Scotia by Oct. 9, to reduce excess capacity in the
Atlantic region. [ID:nSGE67B0NS]

* Alimentation Couche-Tard (ATDb.TO: ). Casey’s General
Stores (CASY.O: ), the U.S. convenience store chain fighting a
hostile takeover bid from Canada’s Alimentation Couche-Tard,
urged shareholders on Thursday to vote against an attempt by
Couche-Tard to gain influence over its board of directors.
[ID:nN1263190 ]

* Enbridge Inc (ENB.TO: ). The company has not been forced to
ration oil shipments on its North American pipeline system
because of its Michigan oil spill, a company executive said on
Thursday. [ID:nN12132779]

* Petrobank Energy and Resources Ltd (PBG.TO: ). The company,
which owns 58 percent of PetroBakken Energy (PBN.TO: ), said its
second-quarter net income rose 18 percent on higher oil and gas
revenue and named a new chief financial officer.

* Bankers Petroleum Ltd (BNK.TO: ). The company, which
operates oilfields in Albania, reported a quarterly profit as
average oil production rose 54 percent. [ID:nSGE67C0F1]

* Caza Oil & Gas (CAZ.TO: )(CAZA.L: ). The company said on
Friday it made a potentially significant discovery of natural
gas and condensate at a well in Texas. [ID:nSGE67C089]

* Taseko Mines Ltd (TKO.TO: ). The company said
second-quarter profit (Read more your timing to make a profit.) rose, partly helped by higher metal
prices. [ID:nSGE67B0OQ]

* Great Canadian Gaming Corp (GC.TO: ). The operator of
casinos and thoroughbred racetracks, posted a 55 percent rise
in quarterly profit, beating market estimates, boosted by
strong performance of its flagship River Rock Casino Resort.

* Kingsway Financial Services Inc (KFS.TO: ). The Canadian
property and casualty insurer reported a narrower quarterly
loss, helped by higher investment income. [ID:nSGE67C0D9]

* Black Diamond Group’s (BDI.TO: ). The company, which rents
modular structures and provides energy services, reported 16
percent drop in quarterly profit, but forecast higher revenue
and stronger margins in the third quarter. [ID:nSGE67B0NW]


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

* Aurizon Mines (ARZ.TO: ) target price raised to C$7 from
C$6; rating market perform at Raymond James

* Azure Dynamics (AZD.TO: ) target price raised to C$0.45
from C$0.40; rating outperform at Raymond James

* Finning International (FTT.TO: ) target price raised to
C$26 from C$21; rating outperform at Raymond James

* H&R REIT (HR_u.TO: ) target price raised to C$19.50 from
C$18.50; rating outperform at Raymond James

* Zargon Energy (ZAR_u.TO: ) rating raised to outperform from
market perform at Raymond James

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

CANADA STOCKS-TSX may open lower on U.S. growth concerns