(Reuters) - Toronto's main stock index was expected to open higher on Friday, buoyed by a jump in commodity prices and investor optimism following strong quarterly earnings from technology bellwether Research in Motion.
FACTORS TO WATCH
* Canadian equity futures <0#SXF:> pointed to a higher open.
* U.S. stock index futures rose on Friday as solid reports from technology bellwethers Oracle and Research In Motion put stocks on the verge of breaking through a key level that has stymied investors for months. [.N]
* European shares rose on Friday and are on track to record their third consecutive week of gains, boosted by retailers, led by Carrefour after it unveiled a revamp plan for its hypermarkets. [.EU]
* Asian equities were higher, with Japanese stocks gaining after yen selling intervention brightened the prospects of exporters.
COMMODITY PRICE MOVES
* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, rose 0.69 percent in early trade.
* Oil climbs to around $75 a barrel on Friday, boosted by dollar weakness and a hurricane threat, but the anticipated reopening of a major pipeline delivering crude into the United States was expected to cap gains. [O/R]
* Gold leapt to a record high on Friday as a weaker dollar and growing speculation of further quantitative easing by the U.S. Federal Reserve prompted a flurry in investment buying. [GOL/]
* Copper rose to a 4-1/2 month high on Friday, as a falling dollar and reassuring comments from China's central bank on monetary policy boosted base metals. [MET/L]
CANADIAN STOCKS TO WATCH
* Research In Motion (RIM.TO): The BlackBerry maker posted stronger-than-expected second-quarter profit, revenue and shipments on Thursday, defying expectations it would lose more ground to rivals. [ID:nN16189389]
* Alimentation Couche-Tard (ATDb.TO): Casey's General Stores, facing a $2 billion takeover bid from Alimentation Couche-Tard, said two more proxy advisory services firms have recommended that Casey's shareholders re-elect a majority of the company's director nominees. [ID:nSGE68G0EZ]
* Magna International (MG.TO): The Japanese electric car battery maker, GS Yuasa Corp, is in talks with the auto parts maker to produce batteries in Europe, a source said on Friday, in what would be its first foray overseas. [ID:nTOE68G01C]
* Enbridge Inc (ENB.TO) will restart a major oil pipeline carrying up to a third of Canada's U.S.-bound crude shipments on Friday, eight days after it was shut to stop a leak. [ID:nN16273120]
* The Bank of Nova Scotia (BNS.TO): The Bank plans to continue its policy of trading only for clients in energy markets and not with its own money, according to a company official and sources close to the bank. [ID:nN16257050]
* Gluskin Sheff + Associates Inc. (GS.TO): The wealth manager on Thursday posted fourth-quarter results that missed estimates, hurt by lower performance fees. The company also named David Morris as its new CFO, effective Sept. 27. [ID:nSGE68F0KB]
* Mandalay Resources Corp (MND.TO): The mining company on Thursday said it has started mining at its Cerro Bayo silver-gold mine in Chile, which has been under care and maintenance since October 2008. [ID:nSGE68F0K7]
* Transition Therapeutics Inc (TTH.TO): The company on Friday said it would stop developing its experimental diabetes treatment after a study of the drug in combination with Eli Lilly's diabetes therapy failed to show efficacy. [ID:nSGE68G0EA]
ANALYST RECOMMENDATIONS
Following is a summary of research actions on Canadian companies reported by Reuters. [RCH/CA]
* Dundee raises Research in Motion (RIMM.O) price target to $70 FROM $65; rating buy.
-- UBS cuts RIM (RIMM.O) price target to $54 from $65; rating neutral.
* Augusta Resource (AZC.TO) price target raised to C$5.75 from C$5; rating speculative buy at Canaccord Genuity
* Cirrus Energy (CYR.V) rating cut to market perform from outperform at Raymond James.
($1=$1.03 Canadian) (Reporting by Bangalore newsroom and Jennifer Kwan; editing by Jeffrey Hodgson)
