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TSX opens lower after weak U.S. data

CANADA STOCKS-TSX opens lower after weak U.S. data

09:01 EST Thursday, January 14, 2010

TORONTO, Jan 14 (Reuters) - Toronto's main stock index could open lower on Thursday after unexpectedly weak U.S. data hurt investor sentiment.

U.S. stock index futures turned negative after data showed claims for first-time job benefits rose more than expected last week, and retail sales unexpectedly fell in December. [ID:nN13117317] [ID:nN14170396] [.N]

Before the data, Canadian energy producers had been expected to get a boost from rising oil prices. But the price of crude pared gains after the U.S. number.

Canadian stocks closed higher after a choppy session on Wednesday after two days of losses.

Here is some of the news that may affect the market:

OIL REBOUNDS

Oil rose towards $80 a barrel after dropping to 2010 lows the previous day as expectations for rising demand growth in the world's top energy consumer the United States shored up prices. [O/R]

GOLD SLIPS

Gold eased slightly in Europe as the dollar firmed a little against the euro ahead of a European Central Bank policy decision later in the session, curbing interest in the metal as an alternative asset.[GOL/]

BARRICK SUES TO BREAK UP DEAL

Barrick Gold Corp is suing to halt Goldcorp Inc's planned acquisition from New Gold of a 70 percent stake in the El Morro copper-gold project in Chile, which Barrick is also trying to acquire. [ID:nN13225887]

CANWEST SWINGS TO PROFIT

Canwest Global Communications Corp , which has filed for bankruptcy protection for parts of the company, reported a first-quarter profit on Wednesday due to a large gain from the sale of its interest in Australia's Ten Network Holdings. [ID:nN13113732]

KIRKLAND LAKE IN PRIVATE DEAL

Canadian gold miner Kirkland Lake Gold Inc said on Wednesday it has entered into a bought deal private placement with underwriters that could see it raise up to C$25 million ($24.3 million) by selling share-and-warrant units, its second private placement since August. [ID:nN13222298]

CANADA'S RESEARCH ROUNDUP

Following is a summary of research actions on Canadian companies reported by Reuters on Thursday. [RCH/CA]

* RBC raises Cogeco Inc price target to C$41 from C$35; rating "sector outperform"

* Raymond James cuts Canadian National Railway Co to "market perform" from "outperform"

* Raymond James cuts Stantec Inc to "market perform" from "outperform"

* Raymond James raises SNC Lavalin Group Inc target price to C$58 from C$55

* Raymond James cuts Wajax Income Fund to "market perform" from "outperform"

* RBC raises Delphi Energy Corp price target to C$2.25 from C$1.80, rating "outperform"

($1=$1.03 Canadian) (Reporting by Claire Sibonney; Editing by Jeffrey Hodgson)