CANADA STOCKS-TSX set for flat open, commodities to weigh

March 29 (Reuters) – Toronto’s main stock index looked set
to open little changed on Tuesday after Monday 1.04 percent
drop, with falling commodity prices still likely to weigh on
shares of resource companies.

FACTORS TO WATCH

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

* U.S. stock index futures were flat on Tuesday near the
quarter’s end as investors took a wait-and-see stance, unsure
about the impact of global crises. [.N]

* Falls in peripheral banks led European shares lower after
Italian lender UBI Banca (UBI.MI: Quote, Profile, Research) announced a capital hike,
though analysts said the deal could help restore longer-term
confidence in the sector. [.EU]

* Markets in Asia were mixed with Indian Sensex closing
almost a percent up as investors picked up stocks ahead of the
quarter end.

COMMODITY PRICE MOVES

* The Thomson Reuters-Jefferies CRB index (.CRB: Quote, Profile, Research), a global
commodities benchmark, fell 0.53 percent in early trade.

* Oil prices fell around a dollar in a third day of
declines as expectations mounted of a relatively swift
restoration of supplies from OPEC member Libya. [O/R]

* Gold eased in Europe as expectations that interest rates
may rise in key countries undermined confidence in the metal,
with investors remaining cautious after its failure to build on
last week’s record high. [GOL/]

* Copper fell on concerns over high inventories and slack
demand from top consumer China, exacerbated by talks of further
monetary tightening there, but a weaker dollar lent support.
[MET/L]

CANADIAN STOCKS TO WATCH

* Lululemon Athletica (LLL.TO: Quote, Profile, Research): The company said on Monday
it would split both its common shares and its special voting
shares on a two-for-one basis, subject to shareholder approval
at its annual meeting on June 8. [ID:nN28207842]

* Agnico-Eagle Mines (AEM.TO: Quote, Profile, Research): The gold producer said it
expects to produce less gold this year after a fire at its
Meadowbank mine in the Nunavut Territory destroyed the kitchen
and crippled the mine’s staffing levels. [ID:nL3E7ES3FF]

Separately, Miranda Gold Corp agreed to give Agnico an
option to own up to a 70 percent stake in its Alaska gold
project for about $15 million in a multi-year deal.
[ID:nL3E7ET1KM]

* Arise Technologies Corp. (APV.TO: Quote, Profile, Research): The solar technology
company posted a narrower fourth-quarter loss on Tuesday,
helped by higher shipments of its photovoltaic cells.
[ID:nL3E7ET1US]

* Hydrogenics Corp. (HYG.TO: Quote, Profile, Research): The fuel-cell maker reported
fourth-quarter net loss of $1.9 million, or 34 cents a share,
compared with a profit of $6.1 million, or $1.64 per share, a
year ago. [ID:nL3E7ET1QC]

ANALYST RECOMMENDATIONS

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

* Belo Sun Mining (BSX.V: Quote, Profile, Research) price target raised to C$1.90
from C$1.60; rating outperform at National Bank

($1= $0.97 Canadian)
(Reporting by Kishan Nair; editing by Jeffrey Hodgson)

CANADA STOCKS-TSX set for flat open, commodities to weigh