CANADA STOCKS-TSX to open lower on EU debt worries, soft growth

Nov 30 (BestGrowthStock) – Toronto’s main stock index looked set to
open lower on Tuesday as investors remain worried about
European debt levels and data showing Canada’s economy grew by
less than expected in the third quarter.

FACTORS TO WATCH

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

* U.S. stock index futures were lower as worries persisted
over euro zone debt and ahead of key data that will indicate
the strength of a recovery in the world’s largest economy.
[.N]

* Canada’s economy disappointed in the third quarter with
the weakest growth rate in a year, while the economy shrank
outright in September, adding pressure on policy makers to
safeguard the patchy recovery. [ID:nN30202447]

* European shares drifted higher from the previous day’s
eight-week closing lows, though persistent worries that the
debt crisis could spread to other weak euro zone countries
forced investors to stay cautious. [.EU]

* Markets in Asia were largely lower with Nikkei down
almost 2 percent, as a tumble in Chinese shares on liquidity
worries pushed investors to book profits on a sharp rally for
Japan stocks this month.

COMMODITY PRICE MOVES

* The Thomson Reuters-Jefferies CRB index (.CRB: ), a global
commodities benchmark, fell 0.30 percent in early trade.

* Oil fell towards $85, consolidating as the dollar hit a
10-week high and the euro fell (Read more about the trembling euro. ) on worries over the European
debt crisis and concerns China may raise interest rates and cap
energy demand growth. [O/R]

* Gold climbed and set fresh record highs in euro terms,
benefiting from safe-haven buying as a weekend rescue package
for Ireland failed to assuage investors’ jitters over further
debt contagion in the euro zone. [GOL/]

* Copper traded steady, supported by persistent concerns
about supply tightness, with downward pressure expected due to
worries about euro zone debt. [MET/L]

CANADIAN STOCKS TO WATCH

* Enbridge Inc. (ENB.TO: ): The pipeline operator has
restricted oil volumes on another of its U.S. pipelines for
December after its shippers requested more capacity than is
available. [ID:nN29235793]

* Yamana Gold Inc. (YRI.TO: ): The gold miner said on Monday
it has made new discoveries at its two main development
projects that could increase production from the mines to
levels above those estimated in its original feasibility
studies. [ID:nN29227343]

* Inmet Mining Corp. (IMN.TO: ): The base metals miner on
Tuesday agreed to acquire Leucadia National Corp’s 30 percent
indirect equity interest and subordinated sponsor loans in the
Cobre Las Cruces copper mine for $552 million, taking its
stake in the mine to 100 percent. [ID:nSGE6AT048]

ANALYST RECOMMENDATIONS

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

* Candente Copper Corp (DNT.TO: ) target price raised to
C$2.25 from C$1.50; keeps strong buy rating at Raymond James

* Petrodorado Energy Ltd (PDQ.V: ) target price raised to
C$1.25 from C$1; keeps outperform rating at Raymond James

* Savanna Energy Services (SVY.TO: ) rating raised to
outperform from market perform at Raymond James

($1= $1.02 Canadian)

(Reporting by Kishan Nair and Bangalore Newsroom; editing by
Jeffrey Hodgson)

CANADA STOCKS-TSX to open lower on EU debt worries, soft growth