CANADA STOCKS-TSX may open lower, pressured by commodities

Oct 26 (BestGrowthStock) – Toronto’s main stock index could open
lower on Tuesday, hurt by falling commodity prices as the U.S.
dollar steadied.

FACTORS TO WATCH

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

* U.S. stock index futures dipped, the day after the market
rose to a five-and-a-half month high, while the dollar
steadied. [.N]

* European stock index (Read more about the euro currency recovery. )es edged lower as financials fell on
UBS concerns and basic resources weighed on a muted demand
forecast from ArcelorMittal. [.EU]

* Asian shares dropped as the dollar steadied and
uncertainty about intervention from the Bank of Japan to weaken
the yen added to investor caution.

COMMODITY PRICE MOVES

* The Thomson Reuters-Jefferies CRB index (.CRB: ), a global
commodities benchmark, fell 0.14 percent in early trade.

* Oil consolidated to close at $83, steadying after two
days of gains as the dollar rose and ahead of a report that is
expected to show an increase in U.S. crude oil stockpiles.
[O/R]

* Gold edged lower in Europe as the dollar firmed a touch,
but held near $1,340 an ounce as investors awaited clues from
U.S. data due this week on the prospect of further monetary
easing in the United States. [GOL/]

* Copper prices fell as the dollar rose, retreating from a
27-month peak hit earlier in the session and tracking choppy
currency trading ahead of a key Federal Reserve meeting next
week. [MET/L]

CANADIAN STOCKS TO WATCH

* Rogers Communications (RCIb.TO: ) posted a 24 percent drop
in profit on Tuesday as it fought increased competition in its
wireless business and paid heavily to subsidize smartphones.
[ID:nSGE69P0G6]

* Research In Motion (RIM.TO: ): Indian telecoms minister
said on Tuesday the home ministry will decide if they need to
give more time to the Blackberry maker to provide Indian
security agencies access to its messenger and e-mail
communication. [ID:nBMA008709]

* Vitran Corp. (VTN.TO: ): The trucking company on Tuesday
reported third-quarter profit (Read more your timing to make a profit.) that trailed estimates, hurt by a
60 percent drop in income from truckload operations.
[ID:nSGE69O0KO]

* West Fraser Timber Co Ltd. (WFT.TO: ): North America’s
largest softwood producer on Monday reported third-quarter
profit and said pulp and lumber markets were strong enough to
support the dividend and capital spending increases it
announced last month. [ID:nN25285200]

* Atlantic Power Corp. (ATP.TO: ): The independent power
producer on Monday agreed to buy Michigan-based Cadillac
Renewable Energy, a 39.6 MW wood-fired facility, for about $77
million in an all-cash deal. [ID:nSGE69O0LM]

* GLG Life Tech Corp. (GLG.TO: ): The sweetner maker on
Tuesday said it has become a partner with e-distributor
ChemPoint.com Inc for the marketing, sale and distribution of
stevia extracts within the United States and Europe.
[ID:nSGE69P0FY]

* Royal Bank of Canada (RY.TO: ): A unit of the bank, RBC
Capital Markets, said on Tuesday it has been designated a
primary dealer in Germany and France, beginning on Tuesday, a
move that would extend the Canadian investment bank’s reach and
influence in European markets. [ID:nN25279946]

ANALYST RECOMMENDATIONS

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

* Centerra Gold Inc (CG.TO: ) price target raised to C$21
from C$14; keeps neutral rating at HSBC

* West Fraser Timber Co Ltd (WFT.TO: ) price target raised to
C$50 from C$44; keeps outperform rating at Raymond James.

($1= $1.02 Canadian)

(Reporting by Bangalore Newsroom)

CANADA STOCKS-TSX may open lower, pressured by commodities