CANADA STOCKS-TSX may open slightly lower on softer oil price

April 11 (Reuters) – Toronto’s main stock index looked set
to open slightly lower open on Monday, weighed down by softer
prices for oil and other commodities.

FACTORS TO WATCH

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

* U.S. stock index futures edged up as hopes for a strong
earnings season offset some concerns about another earthquake
in Japan. [.N]

* European shares slipped ahead of the first quarter
earnings season in the United States as jitters resurfaced that
high raw material prices could further strain corporate
margins. [.EU]

* Asian stocks were mostly in red with Indian shares
closing 1.1 percent lower after industrial output grew at a
slower-than-expected pace in February.

COMMODITY PRICE MOVES

* The Thomson Reuters-Jefferies CRB index (.CRB: Quote, Profile, Research), a global
commodities benchmark, fell 0.33 percent in early trade.

* Brent crude oil fell over $1 to dip below $125 and U.S.
crude futures slipped to below $112 on prospects of a Libyan
peace agreement, and giving back some ground after Friday’s
strong rally. [O/R]

* Gold hit record highs and silver a 31-year peak, lifted
partly by a weaker dollar, amid expectations the Federal
Reserve will lag other central banks in tightening monetary
policy. [GOL/]

* Copper hit five-week highs as a weaker dollar and robust
imports by top consumer China boosted investor appetite for the
metal, but prices then slipped after news of another strong
earthquake in Japan. [MET/L]

CANADIAN STOCKS TO WATCH

* TimberWest Forest Corp. (TWF_u.TO: Quote, Profile, Research): The company said it
agreed to be bought by two Canadian pension funds for about
C$703 million in cash. [ID:nL3E7FB24R]

* Telus Corp (T.TO: Quote, Profile, Research): The telecoms company said it has
reached a “tentative collective agreement” with the
Telecommunications Workers Union. [ID:nL3E7FB1U1]

* Endeavour Silver Corp (EDR.TO: Quote, Profile, Research): The company’s
first-quarter revenue nearly doubled as production rose and
bullion prices climbed sharply. [ID:nL3E7FB1QX]

ANALYST RECOMMENDATIONS

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

* Cogeco Cable (CCA.TO: Quote, Profile, Research) price target raised to C$46 from
C$45 at CIBC

* Cogeco Inc (CGO.TO: Quote, Profile, Research) price target raised to C$42 from C$39
at CIBC

* Innergex Renewable Energy Inc (INE.TO: Quote, Profile, Research) price target
raised to C$9.75 from C$9.50 at CIBC

* Newalta (NAL.TO: Quote, Profile, Research) price target raised to C$16.50 from
C$16; rating outperform at National Bank

($1= $0.96 Canadian)
(Reporting by Shrutee Sarkar; editing by Jeffrey Hodgson)

CANADA STOCKS-TSX may open slightly lower on softer oil price