CANADA STOCKS-TSX may open lower on weak Canadian, U.S. data

Aug 19 (BestGrowthStock) – Toronto’s main stock index could open
lower on Thursday after data showed initial U.S. jobless claims
unexpectedly rose and Canadian wholesale trade and leading
indicator data came in lower than expected.


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

* Canadian wholesale trade unexpectedly fell 0.3 percent in
June from May on faltering sales of machinery, equipment and
supplies in another sign the economic recovery lost some
momentum in the second quarter. [ID:nN19243100]

* The rise in Canada’s composite leading indicator posted
the slowest increase in a year at 0.4 percent in July from 0.7
percent in June, as the cooling housing market partially offset
a comeback in manufacturing. [ID:nN19270234]

* U.S. stock index futures turned negative after data
showed first-time jobless claims rose unexpectedly in the
latest week, underscoring labor market weakness. [.N]

* European shares extended gains after Germany’s Bundesbank
said the country’s economy will grow by 3 percent this year
against a previous forecast of almost 2 percent. [.EU]

* Asian stocks were up with the Nikkei gaining 1.3 percent,
buoyed by short-covering and bargain-hunting by domestic
investors after falls earlier this week, but the yen’s overall
strength against the dollar capped further gains.


* The Thomson Reuters-Jefferies CRB index (.CRB: ), a global
commodities benchmark, fell 0.09 percent in early trade.

* U.S. crude oil futures prices turned negative on Thursday
after a government report showed new claims for jobless
benefits unexpectedly climbed to a nine-month high last week.

* Gold held near $1,230 an ounce on Thursday as concerns
over economic growth supported prices near the last session’s
near seven-week high, with investors awaiting U.S. data due
later in the day for fresh direction. [GOL/]

* Copper rose to its highest in more than week on Thursday
as traders priced in growing appetite for assets perceived to
be risky, but lingering concerns about demand are expected to
cap gains. [MET/L]


* Potash Corp (POT.TO: ) (POT.N: ): BHP Billiton (BHP.AX: )
(BLT.L: ), the world’s largest miner, is betting the absence of
any rival offers will sway Potash Corp investors to support its
bid, said the source familiar with the situation.

* Research In Motion (RIM.TO: ) (RIMM.O: ): India’s security
agencies are testing ways to access corporate email on
Blackberry devices by obtaining encrypted data in a readable
format, a government source said on Thursday. [ID:nSGE67I098]

* Open Text Corp (OTC.TO: ): The Canadian business software
maker’s quarterly profit rose sharply on strong revenue growth
and cost controls, the company said Wednesday. [ID:nN18128989]

* Lake Shore Gold Corp (LSG.TO: ): The Canadian gold miner
said on Wednesday it would raise up to C$76.9 million ($74.7
million) in a bought deal and use the proceeds to expand
operations at its Ontario mines. [ID:nSGE67H0L6]


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

* Detour Gold Corp (DGC.TO: ) price target raised to C$34
from C$29; rating outperform at RBC

* Osisko Mining Corp. (OSK.TO: ) price target raised to C$15
from C$13; rating sector perform at RBC

* Sterling Resources (SLG.V: ) price target cut to C$3.15
from C$3.30; rating outperform at RBC

($1=$1.03 Canadian)
(Reporting by Bangalore newsroom, editing by Bhaswati
Mukhopadhyay and Jeffrey Hodgson)

CANADA STOCKS-TSX may open lower on weak Canadian, U.S. data