RTRS: CANADA STOCKS-TSX may climb as oil price edges higher
TORONTO, Dec 10 (Reuters) - Toronto's main stock index
could open higher on Thursday as oil prices recovered from a
more than 2 percent drop in the previous session, which could
lift shares of weighty oil and gas companies.
Toronto's S&P/TSX composite index .GSPTSE could also gain
as U.S. stock index futures indicated a higher open. [.N] As
well, world equities managed modest gains on Thursday following
five sessions of losses. [MKTS/GLOB]
Here's some news that could affect the market:
GILDAN ACTIVEWEAR (GIL.TO)
T-shirt maker Gildan Activewear Inc (GIL.TO) said on
Thursday its fourth-quarter profit nearly doubled, helped
mostly by lower manufacturing costs. [ID:nN10116253]
LULULEMON ATHLETICA (LLL.TO)
Clothing retailer Lululemon Athletica (LLL.TO) said on
Wednesday its third-quarter profit jumped nearly 60 percent,
topping earlier expectations, helped by strong demand for its
trendy yoga and fitness wear. [ID:nN09232669]
CANADIAN WESTERN TO BUY NATIONAL LEASING
Canadian Western Bank (CWB.TO), which said in September it
plans to double in size in coming years, said on Wednesday it
agreed to buy commercial equipment lessor National Leasing
Group in a cash and stock deal worth C$130 million ($124
million). [ID:nN09237876]
OIL REBOUNDS
Oil rose above $71 a barrel on Thursday, recovering after
falling more than 2 percent in the previous session, supported
by a weaker dollar and rising equities. [O/R]
GOLD LOWER
Gold edged lower in Europe on Thursday as concerns over the
fiscal health of euro zone economies pressured the single
currency versus the dollar, curbing interest in gold as an
alternative to the U.S. unit. [GOL/]
CANADA RESEARCH ROUNDUP
RBC cuts Research in Motion (RIMM.O) price target to $120
from $150; rating outperform.
Goldman Sachs cuts EnCana Corp (ECA.TO) price target to $34
from $63 following Cenovus spin-off.
RBC raises Lululemon Athletica (LULU.O) price target to $32
from $30; rating outperform.
RBC raises Harry Winston Diamond (HWD.N) price target to
$11 from $9; rating sector perform.
For more research, please see [CA-RCH]
($1=$1.05 Canadian)
(Reporting by Irene Kuan and Jennifer Kwan; Editing by Jeffrey
Hodgson)
