CANADA STOCKS-TSX could open mixed on oil rise, weak jobs data

TORONTO, April 9 Fri Apr 9, 2010 8:48am EDT

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TORONTO, April 9 (Reuters) - Toronto's main stock index could open mixed on Friday as a rise in commodity prices is offset by weaker-than-expected Canadian jobs data.

The index could also receive support from the U.S. equity market. U.S. stock futures rose as shares of natural resource companies were poised to outperform as the U.S. dollar retreated, sending crude oil and other commodities higher. [.N]

Toronto's main stock index ended slightly higher on Thursday, rebounding from steep losses early in the session as oil prices climbed back from lows and optimism grew about the global recovery.

Here is some news that could affect stock prices:

OIL TOPS $86

Oil rose to near 18-month highs after a record 9.1 percent rise in U.S. retail sales boosted optimism about economic recovery prospects and lifted expectations for sustained energy demand growth in the number 1 energy consumer. [O/R]

GOLD FIRM

Gold rose to three-month highs as concern over the fiscal outlook for peripheral euro zone economies boosted safe haven flows into the precious metal, with a rebound in the euro also lifting prices. [GOL/]

CANADA JOBS DATA

Fewer Canadians returned to work in March than expected, and the jobless rate remained at 8.2 percent, easing pressure on the Bank of Canada to raise interest rates. [ID:nN09253705]

RESEARCH ROUNDUP

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

* UBS raises Canadian Tire Corp (CTC.TO) price target to C$63 from C$62; rating buy

* UBS cuts Telus Corp (T.TO) to neutral from buy, raises price target to C$38 from C$35

* Desjardins raises Cogeco Cable Inc (CCA.TO) to buy from hold

* BMO raises Brookfield Renewable Power Fund BRC_u.TO price target to C$21 from C$20; rating market perform

* TD Newcrest cuts Jean Coutu Group (PJCa.TO) price target to C$11 from C$11.50, rating buy

* Thomas Weisel cuts Astral Media ACMa.TO to market weight from overweight

* Raymond James cuts Cameco Corp (CCO.TO) price target to C$27 from C$32.30, rating market perform

* Raymond James raises Dollarama Inc (DOL.TO) to outperform from market perform on valuation

* Macquarie cuts Absolute Software Corp (ABT.TO) price target to C$7.60 from C$9; keep outperform rating

* UBS raises Osisko Mining Corp OSK.TO price target to C$12 from C$11.75; rating buy

($1=$1.01 Canadian) (Reporting by Claire Sibonney, Editing by Jeffrey Hodgson)

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California state worker Albert Jagow (L) goes over his retirement options with Calpers Retirement Program Specialist JeanAnn Kirkpatrick at the Calpers regional office in Sacramento, California October 21, 2009. Calpers, the largest U.S. public pension fund, manages retirement benefits for more than 1.6 million people, with assets comparable in value to the entire GDP of Israel. The Calpers investment portfolio had a historic drop in value, going from a peak of $250 billion in the fall of 2007 to $167 billion in March 2009, a loss of about a third during that period. It is now around $200 billion. REUTERS/Max Whittaker   (UNITED STATES) - RTXPWOZ

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