Toronto – The main stock index in Toronto can open little changed on Monday as copper and oil prices and increased Gold slipped on a day when U.S. markets will remain closed for Independence Day.
The Toronto Stock Exchange S & P / TSX composite index . GSPTSE lost 4.4 percent last week, hitting the lowest in more than four months as resource issues, particularly gold miners, stumbled heavily.
OIL slightly higher
U.S. crude oil climbed above $ 72 a barrel on Monday,
breakage of a five-day losing streak, but gains were limited due
concerns that slowing growth in the global economy could reduce demand.
[O / R] [ID: nSGE66405P]
COPPER rises
Copper prices rose on the back of the weak U.S. dollar and
Buy arbitration in Shanghai. [MET / L]
Gold Prices Dip
Gold prices lower sharp edges below $ 1,210 per ounce at
Monday as risk aversion that drove prices to record highs
last month declined with caution during the American Revolutionary War
Day holiday also keep a lid on profits. [GOL /]
Sino-Forest SIGNS FINANCING DEAL
Forest plantation operator Sino Forest Corp. (TRE.TO: Quote) said:
Monday at the Sino-Panel Investments Ltd. unit has entered
a financing agreement for up to 10 billion RMB ($ 1.5 billion)
with China Development Bank Corp. for projects in China.
[ID: nSGE6610KA]
VALE Deal reached in Sudbury
Vale (VALE5.SA: Quote) said on Sunday reached a preliminary
contract agreement with workers at the Sudbury, Ontario, nickel
and copper mining operation, signaling the end of a bitter,
year-long strike. [ID: nN04213666]
NORD RESOURCES fired
Nord Resources Corp said on Monday it was NRD.TO
temporary suspension of mining and crushing of ore in the
Johnson Camp Mine and was laying off 43 people on the copper
mine for cost reduction purposes.
Canadian dollar slips
The Canadian dollar fell against its U.S. counterpart on
Monday morning, as investor demand disappeared in favor of the euro.
[ID: nN05235183]
RESEARCH ROUNDUP
Following is a summary of research actions on Canadian
companies reported by Reuters. [RCH / CA]
* Raymond James cuts Cervus Equipment (CVL.V: Quote) target
to EUR 13 from EUR 14, outperform rating
* Raymond James cuts Rocky Mountain dealers (RME.TO: Quote)
target price to C $ 10.50 C $ 13; outperform rating
* CIBC does Angle Energy (NGL.TO: Quote) price target from C $ 10.25
C $ 9.50, rating outperform
Taseko Mines Ltd. * Paradigm cuts (TKO.TO: Quote) price target to
C $ 6.50 from $ 7.75 C; buy rating
($ 1 = $ 1.07 Canadian)
Robust Gold Investment demand will continue to support the market in 2010
LONDON - Demand for gold will remain strong in 2010 due to the acceleration of demand from India and China, and increasing global demand for investment driven by the continuing uncertainty about the debt and economic recovery, the World Gold Council (WGC ") said. . . Read more »
ORFG.PK, NSU, FRG Gold Market Report of CRWE Wallstreet.
Orofino Gold Corp. (Pink Sheets: ORFG. . . Read more »