CANADA STOCKS-TSX set to open lower on weak commodity prices

April 16 (BestGrowthStock) – Toronto’s main stock index could open
lower on Friday with commodities dipping as investors fretted
about the outlook for demand in the U.S. and China.

Wall Street is also set to open lower as initial investor
optimism on corporate earnings tempered.

Markets will likely seesaw between Bank of America and
General Electric’s expectation-beating results and Google,
which disappointed some investors accustomed to blowout results
despite topping analyst forecasts. [.N]

European shares ticked higher as industrials gained after
strong SKF results, and banks recovered.

Asian stocks retreated from 22-month highs, and
higher-yielding currencies fell, as investors booked profits
after risky assets ran up in recent sessions.

Factors to watch on Friday include:

OIL DIPS

Oil prices fell below $85 a barrel as doubts over U.S.
crude demand re-emerged and the dollar strengthened, making
imports more expensive for emerging economies where consumption
is surging. [O/R]

GOLD SOFTENS

Gold eased in Europe, pressured by dollar strength as
concern over Greece’s ability to service its debts weighed on
the euro, though underlying demand for the metal as a portfolio
diversifier supported prices. [GOL/]

STOCKS TO WATCH THIS MORNING

Aura Minerals Inc (ORA.TO: )- The company on Thursday said
its first-quarter gold production rose 32 percent to 19,299
ounces form year ago period and it is confident to meet or
exceed its gold production guidance of 90,000 ounces for 2010.

Genivar Income Fund (GNV_u.TO: ). The fund on Friday agreed
with Genivar Inc to convert from an income trust structure to a
publicly traded corporation on or about Jan. 1, 2011. The
company said the new corporation will be named Genivar Inc and
would be listed on the TSX under the symbol “GNV” upon
completion of the arrangement.

GLG Life Tech (GLG.TO: ). The life sciences company said on
Friday that it had reached agreements in Australia and Latin
America to distribute its stevia line of natural sweeteners.
The company signed an agreement with Essentia Stevia for the
distribution and marketing of GLG’s high stevia extracts in 18
countries throughout Latin America. The second agreement, with
leading Australian sugar refiner Sugar Australia, is subject to
certain conditions

Jaguar Mining Inc (JAG.TO: ). The company on Thursday said
its first-quarter gold production fell 5 percent, partly hurt
by lower grades at its Brazilian mines. The company produced
31,223 ounces of gold at an average cash operating cost of
US$595 per ounce, compared with 32,868 ounces at an average
cash operating cost of US$409 an ounce, a year ago.

Viterra Inc (VT.TO: ). The grain handler on Friday said it
launched a global financing facility of C$1.6 billion for
working-capital requirements. The three-year unsecured facility
will replace Viterra’s existing C$800 million line of credit in
Canada and the A$1.2 billion operating line in Australia.
Viterra, which completed its takeover of Australia’s ABB Grain
in September, said it has the right to increase the facility by
up to C$400 million.

ANALYST RECOMMENDATIONS

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

* ADF Group Inc (DRX.TO: ) price target cut to C$3.50 from
C$4; rating outperform at Raymond James

* Air Canada (ACa.TO: ) rating raised to strong buy from
outperform at Raymond James

* BCE Inc (BCE.TO: ) rating raised to buy from neutral at
UBS

* Boardwalk REIT (BEI_u.TO: ) price target raised to C$39
from C$37; rating hold at Genuity

* CAE Inc (CAE.TO: ) price target raised to C$11 from C$9.50;
rating neutral at UBS

* Canexus Income Fund (CUS_u.TO: ) started with buy rating;
price target of C$7.80 at Acumen Capital

* Ithaca Energy (IAE.V: ) price target raised to C$3.60 from
C$3; rating overweight at Thomas Weisel

* Mirabela Nickel (MBN.AX: ) price target raised to C$3.50
from C$3; rating buy at UBS

* Osisko Mining (OSK.TO: ) price target raised to C$10.50
from C$10.10; rating market perform at Raymond James

* WestJet Airlines (WJA.TO: ) rating raised to outperform
from market perform at Raymond James
(Reporting by Bangalore newsroom, editing by Savio D’Souza and
Jeffrey Hodgson)

CANADA STOCKS-TSX set to open lower on weak commodity prices