Toronto stocks to open mixed on resources, data

2008年 8月 14日 星期四 21:13 BJT
 

*TSX may get a boost from price of gold

*U.S. economic data may weigh on market

*Cameco quarterly results may be in focus

TORONTO, Aug 14 (Reuters) - Toronto Stock Exchange's main index was set to open mixed on Thursday, swayed by oil and gold prices, a raft of quarterly earnings and U.S. economic data.

Oil, which had see-sawed early on Thursday, and gold, may help stocks extend Wednesday's gains, but financial and economic reports from south of the border may pull the benchmark index on a sideways course.

In New York, stock futures had risen on Wal-Mart Stores Inc (WMT.N: 行情), the world's biggest retailer, after it posted a stronger-than-expected quarterly profit, helping to calm worries about consumer spending.

But futures then slipped following U.S. economic data that showed consumer price pressures mounted in July, heightening inflation worries. Also in the U.S., the level of jobless claims was above expectations.

"The bottom line is there a lot of corporate earnings, in Canada and the U.S., and a little bit of data and we're all looking for a sign of where we are in the cycle," said Paul Taylor, chief investment officer at BMO Harris Investment Management Inc.

"Presumably, it will indicate it's not terrible but we're certainly not back on the rails."

In company developments, private equity firms Birch Hill Equity Partners Management Inc. and Westerkirk Capital Inc. plan to buy Sleep Country Canada Income Fund Z_u.TO in a cash deal valued at about C$356 million, the companies said on Thursday.

Elsewhere, on the earnings front, quarterly results from Cameco Corp (CCO.TO: 行情), the world's top uranium producer, could be in the spotlight.

Results from Groupe Aeroplan Inc (AER.TO: 行情) may also draw attention, while Onex Corp (OCX.TO: 行情) could be in focus after the private-equity group reported a quarterly net loss after the market's close on Wednesday. It said the tough credit environment hasn't stopped it from hunting for acquisitions.

The S&P/TSX composite index .GSPTSE begins the day at 13,377.22, up 210.22 points, or 1.6 percent. (Reporting by Jennifer Kwan; Editing by Jeffrey Jones)

 
 

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