AFX: CANADA STOCKS-TSX may get lift from commodity prices
TORONTO, March 5 (Reuters) - Toronto's main stock market index could open firmer on Friday as higher oil and gold prices push up heavily weighted resource shares.
The Toronto index could also follow global equities, which rose ahead of key U.S. employment data and were led by banking stocks and mining shares. On Thursday, the Toronto Stock Exchange's S&P/TSX composite index closed down 27.88 points, or 0.24 percent, at 11,824.97.
Here is news that could affect the market:
TIM HORTONS INC
Tim Hortons said on Friday it planned to open 900 new coffee shops over the next three years, with the bulk in Canada. The Canadian chain also forecast earnings-per-share growth of 12 percent to 15 percent during that time. For 2010, it sees EPS of between C$1.95 and C$2.05.
OIL RISES TOWARDS $81
Crude climbed toward $81 a barrel on Friday, approaching a seven-week high, after China signaled it will maintain its economic stimulus measures, boosting hopes strong growth will help drain excess oil supplies.
GOLD, BASE METALS FIRM
Gold firmed in Europe on Friday as the dollar eased versus the euro ahead of the key U.S. non-farm payrolls data, with investors looking for fresh clues about the resilience of the economic recovery.
Copper rose 1.8 percent on Friday, rebounding from losses in the previous session, as equities gained on an improving economic outlook, and investors awaited the U.S. payrolls data.
CANADA BUDGET
Canada's minority Conservative government outlined plans to rein in a record deficit on Thursday, presenting a budget that lets it keep power for now.
CANADA RESEARCH ROUNDUP
UBS raises TD Bank price target to C$74 from C$71; rated "neutral."
RBC raises Canadian Western Bank price target to C$27 from C$25; rated "sector perform."
Raymond James cuts Yamana Gold Inc target price to $16.60 from $18.50; kept "outperform rating."
Thomas Weisel raises Calfrac Well Services Ltd price target to C$28 from C$27.
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($1=$1.03 Canadian)
(Reporting by Jennifer Kwan; editing by Jeffrey Benkoe) . (jennifer.kwan@thomsonreuters.com; +1 416 941 8178; Reuters Messaging: jennifer.kwan.reuters.net@reuters.com)
