Reuters: Market News: CANADA STOCKS-TSX set to open lower on weak US data

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CANADA STOCKS-TSX set to open lower on weak US data Apr 9th 2012, 12:42 April 9 | Mon Apr 9, 2012 8:42am EDT April 9 (Reuters) - Toronto's main stock index looked set to open lower on Monday after weaker-than-expected U.S. non-farm payroll data on Friday weighed on sentiment. Canada's market was closed on Friday. FACTORS TO WATCH * Canadian equity futures pointed to a lower open. * U.S. stock index futures traded lower after last week's much weaker-than-expected report on U.S. job creation for March. COMMODITY PRICE MOVES * The Thomson Reuters-Jefferies CRB index, a global commodities benchmark, fell 0.52 percent in early trade. * Oil prices fell more than $1 after Iran agreed to resume talks over its nuclear program, easing fears of a supply disruption in the Middle East. * Gold prices rose, recovering from last week's more than 2 percent drop, after disappointing U.S. jobs data revived hopes for fresh monetary easing and a spike in Chinese inflation boosted appetite for the metal. * Shanghai copper slipped, under pressure from a rising rate of inflation in China, but losses were limited on hopes that the world's biggest user top will go ahead with further monetary policy easing. CANADIAN STOCKS TO WATCH * Research In Motion Ltd. : The Blackberry maker is losing two more senior executives as the money-losing company embarks on a strategic overhaul that its new CEO says could result in its sale. Alan Brenner, a senior vice president for the BlackBerry platform, will leave after a transition period, and Alistair Mitchell, a vice president for the BlackBerry Messenger instant messaging product, has already left. ANALYST RECOMMENDATIONS Following is a summary of research actions on Canadian companies reported by Reuters. * Amica Mature Lifestyles Inc. : CIBC starts with sector performer, price target C$10 * Gabriel Resources Ltd. : CIBC cuts price target to C$5.50 from C$8 * Mullen Group Ltd. : CIBC cuts price target to C$24 from C$25 * Sandvine Corp. : Canaccord Genuity cuts price target to C$2 from C$2.15, rating buy * Tourmaline Oil Corp. : CIBC cuts price target to C$33 from C$35 Link this Share this Digg this Email Reprints

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