CANADA STOCKS-TSX may rise in tandem with commodities

Tue Jun 16, 2009 8:46am EDT
 
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TORONTO, June 16 (Reuters) - Toronto's main stock index could open higher on Tuesday as a weaker U.S. dollar lifts commodity prices, bolstering the resource-laden TSX.

Global equities were off earlier lows on Tuesday, boosted in part by a survey showing German investor confidence surged in June [MKTS/GLOB]. U.S. stock index futures pointed to a higher open.

On Monday, the S&P/TSX composite index .GSPTSE ended down 250.18 points, or 2.35 percent, at 10,394.78. All 10 of its main sectors ended lower.

Here is some news that could affect the market:

AIR CANADA (ACa.TO) (ACb.TO)

Air Canada (ACa.TO) (ACb.TO) said it has completed tentative agreements with all its unionized workforce in the country on a pension funding moratorium. [ID:nBNG112694]

CANADA PENSION PLAN INVESTMENT BOARD

A Canadian pension fund moved closer to sealing a takeover of Australia's Macquarie Communications Infrastructure Group (MCG.AX) on Tuesday, raising its offer to $1.3 billion and securing the approval of the two biggest shareholders.

The Canada Pension Plan Investment Board (CPPIB) said Macquarie Communications (MCIG) shareholders would get a special cash dividend of A$0.50 per security if they approved the offer. [ID:nSYD159098]

URANIUM ONE (UUU.TO)

Uranium One (UUU.TO) plans to leverage its new links with Russia and Japan into a top-tier position among uranium producers, and sees Africa as the next hot spot for mining of the increasingly in-demand mineral, CEO Jean Nortier said on Monday. [ID:nN15221087]

RESEARCH IN MOTION (RIM.TO)

Research In Motion (RIM.TO) (RIMM.O) is adding another smartphone to its BlackBerry lineup as it aims to win market share among both executives and mainstream. [ID:nN15191386]

AGNICO-EAGLE MINES LTD (AEM.TO)

Canadian gold producer Agnico-Eagle Mines Ltd (AEM.TO) has signed a new credit facility with a syndicate of international banks that increased its credit lines to over $900 million. [ID:nLG315177]

HEROUX-DEVTEK INC (HRX.TOContinued...

 

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