*TOP NEWS* Canada

Reuters: [2008-05-09 23:13:00]

For news and data, double-click on the codes in brackets. 
Access to some items may depend on subscription level. 
.................................................................. 
TOP STORIES 
> No infectious outbreak on Canadian train-officials  [nN09496954] 
> Canada blocks Alliant Tech's satellite purchase     [nN09414895] 
> Canada jobless rate rises unexpectedly to 6.1 pct   [nN09168649] 
> Canada March trade surplus widens on energy prices  [nN09478230] 
    
BUSINESS 
> ACE launches C$500 mln buyback as net income falls  [nN08414708] 
> Air Canada adds fuel surcharge as oil prices soar   [nN09506040] 
> Manitoba Telecom profit gets wireless lift          [nN09464359] 
> Power Corp of Canada net income rises on gain       [nN09484001] 
> GMP Capital first-quarter profit drops 53 pct       [nN09458976] 
> Cott delays US regulatory filing, cites tax issue   [nN09473960] 
> Canadian shoppers see some gains as C$ holds firm   [nN09174071] 
    
MARKETS 
> Toronto stocks hit by profit-taking despite oil     [nN09516009] 
> Canadian dollar up over a cent, bonds rally         [nN09282110] 
> Big banks may get bruised again                     [nN09479276]    
.................................................................. 
UP-TO-THE-MINUTE HEADLINES 
Company results             [RES]    Economic indicators     [ECI] 
Mergers & acquisitions      [MRG]    Interest rates          [INT] 
 
LIVE PRICES & DATA 
World Stocks           <0#.INDEX>    Canadian dollar <CADX=><NFX=> 
S&P/TSX composite index <.GSPTSE>    Canadian bonds      <CABONDT> 
Dow Jones/Nasdaq    <.DJI><.IXIC>    Debt      <0#USBMK=><EURIBOR> 
 
HOW TO FIND INFORMATION YOU NEED 
|<REUTERS> | <NEWS> | <PHONE/HELP>  | 
|<EQUITY>  | <BONDS>|   <MONEY>     |    <COMMODITY> |  <ENERGY> | 
.................................................................. 
 
For latest top breaking news across all markets          [NEWS] 
.................................................................. 
TOP NEWS SUMMARIES ON OTHER SUBJECTS 
| Politics & General    [TOP/G]  | Sports              [TOP/SPO] | 
| Global economy    [TOP/MACRO]  | European Companies  [TOP/EQE] | 
| Asian companies     [TOP/EQA]  | U.S. Companies      [TOP/EQU] | 
| Fixed Income        [TOP/DBT]  | Forex               [TOP/FRX] | 
| Fund Management    [TOP/FUND]  | Credit           [TOP/CREDIT] | 
| Commods & Energy     [TOP/CE]  | Corporate Finance [TOP/DEALS] | 
| FX News              <FXNEWS>  | Banking/Financials  [TOP/FIN] | 
| Features/Must reads [TOP/FEA]  | 
.................................................................. 
Multimedia versions of Reuters Top News are now available for: 
 * 3000 Xtra    : visit http://topnews.session.rservices.com 
 * BridgeStation: view story .134 
 * Reuters Plus: from your WebDSS screen 
For more information on Top News, visit http://topnews.reuters.com 
.................................................................. 
Toronto newsroom 416-941-8100 

DIARY - United States - to May 30, 2008

Reuters: [2008-05-09 23:10:00]

    DIARY - UNITED STATES - to May 30, 2008 
   *ALL TIMES EST/GMT 
 
    ASTERISKS DENOTE NEW LISTINGS. 
    [FED/DIARY] FOR ALL U.S. FEDERAL RESERVE EVENTS 
    [SP500/WK] For full list of S&P earnings 
    [NSP500/WK] 
 
    Mon, MAY 12 
    WASHINGTON - USDA releases weekly U.S. export inspections 
for grains, oilseeds, 1100/1500 
    WASHINGTON - Treasury Dept. announces weekly sale of 4-week 
bills, 1100/1500 
    WASHINGTON - Treasury Dept weekly sale of 3-, 6-month 
bills, 1300/1700 
    WASHINGTON - Treasury Dept. issues Monthly Budget for 
April, 1400/1800 
    WASHINGTON - USDA issues weekly Crop Progress, 1600/2000 
    Tues, MAY 13 
    WASHINGTON - Labor Dept. issues Import and Export Prices 
for April, 0830/1230 
    WASHINGTON - Commerce Dept. issues Retail Sales for April, 
0830/1230 
    WASHINGTON - Commerce Dept. issues Business Inventories for 
March, 1000/1400 
    WASHINGTON - U.S. Defense Logistics Agency weekly offer of 
surplus cobalt for sale, after 1000/1400 
    WASHINGTON - Treasury Dept. holds weekly sale of 4-week 
bills, 1300/1700 
    Wed, MAY 14 
    WASHINGTON - 0830/1230 - Labor Dept. issues Consumer Price 
Index for April; Real Earnings for April, 0830/1230 
    WASHINGTON - National Oilseed Processors Association issues 
monthly Soybean Crushings, 0830/1230 
    WASHINGTON - American Petroleum Institute issues Monthly 
Statistical Report, 1000/1400 
    WASHINGTON - Energy Information Administration weekly 
petroleum stocks and output data, 1030/1430 
    WASHINGTON - American Petroleum Institute weekly national 
petroleum report, 1030/1430 
    Thurs, MAY 15 
    WASHINGTON - Labor Dept. issues weekly Jobless Claims, 
0830/1230 
    WASHINGTON - USDA releases weekly Export Sales, 0830/1230 
    WASHINGTON - National Weather Service issues 30-Day Weather 
Outlook for June, 0830/1230 
    WASHINGTON - Treasury Dept. issues Treasury International 
Capital (TIC) report, 0900/1300 
    WASHINGTON - Commerce Dept. issues Q1 E-Commerce Sales, 
1000/1400 
    WASHINGTON - Labor Dept. issued Job Openings and Labor 
Turnover Survey (JOLTS) for March, 1000/1400 
    WASHINGTON - Freddie Mac issues weekly U.S. mortgage rates, 
after 1000/1400 
    WASHINGTON - EIA issues weekly U.S. underground natural gas 
stocks, 1030/1430 
    WASHINGTON - Treasury Dept. weekly announcement of 3- and 
6-month bill sale offerings, 1100/1500 
    WASHINGTON - Association of American Railroads issues 
Weekly Traffic of Major Railroads 
    WASHINGTON - USDA issues Fish and Seafood: World Markets 
and Trade, 1500/1900 
    WASHINGTON - ICI weekly money market mutual fund data, 
after 1630/2030 
    Fri, MAY 16 
    WASHINGTON - Commerce Dept. issues Housing Starts for 
April, 0830/1230 
    WASHINGTON - USDA issues monthly Cattle on Feed, 1500/1900 
    Mon, MAY 19 
    WASHINGTON - Eurasia Center and Eurasian Business Coalition 
hold 2008 U.S.-Russia Forum, 0900/1300 
    WASHINGTON -  Conference Board issues Leading Economic 
Indicators for April, 1000/1400 
    WASHINGTON - USDA releases weekly U.S. export inspections 
for grains, oilseeds, 1100/1500 
    WASHINGTON - Treasury Dept. announces weekly sale of 4-week 
bills, 1100/1500 
    WASHINGTON - Treasury Dept weekly sale of 3-, 6-month 
bills, 1300/1700 
    WASHINGTON - USDA issues weekly Crop Progress, 1600/2000 
    Tues, MAY 20 
    WASHINGTON - Labor Dept. issues Producer Price Index for 
April, 0830/1230 
    WASHINGTON - Eurasia Center and Eurasian Business Coalition 
hold 2008 U.S.-Russia Forum, 1000/1400 
    WASHINGTON - U.S. Defense Logistics Agency weekly offer of 
surplus cobalt for sale, after 1000/1400 
    WASHINGTON - Treasury Dept. holds weekly sale of 4-week 
bills, 1100/1500 
    WASHINGTON - USDA issues Sugar: World Markets and Trade, 
1500/1900 

UPDATE 3-Toronto stocks hit by profit-taking despite oil

Reuters: [2008-05-09 23:08:00]

(Adds details)

By Wojtek Dabrowski

TORONTO, May 9 (Reuters) - The Toronto Stock Exchange's main index finished in the red on Friday as profit-taking cooled the energy sector even though oil prices hit another record high.

The S&P/TSX composite index <.GSPTSE> dropped 86.80 points, or 0.59 percent, to close at 14,521.19.

"We had such a very good day yesterday and this market is still a very tricky market, so we probably ran into some profit-taking today," said John Kinsey, portfolio manager at Caldwell Securities Ltd. The index rose more than 200 points on Thursday.

Eight of the 10 main subgroups on the benchmark ended lower, including the key energy and materials sectors, which dropped 0.52 percent and 1.83 percent, respectively. Financials inched 0.06 percent lower.

The S&P/TSX 60 index of Canadian large-cap stocks lost 5.99 points, or 0.69 percent, to end at 863.46.

Oil shares fell even though crude jumped to a record high above $126 a barrel, extending its gains on fuel supply concerns and speculator buying.

Canadian Natural Resources Ltd <CNQ.TO> was among the energy companies that fell, losing C$1.85, or 1.9 percent, to C$94.15 a day after it reported a surge in quarterly profit because of rocketing oil prices.

Oil and gas powerhouse EnCana Corp <ECA.TO> fell 96 Canadian cents, or 1.1 percent, to end at C$86.52.

"The stocks are down for a change, they're not following their commodity," Kinsey said.

Gold prices moved higher on the back of oil on Friday -- an increase not reflected in the shares of gold producers such as Barrick Gold <ABX.TO>, which fell C$1.49, or 3.6 percent, to finish at C$39.51.

Among companies reporting results, ACE Aviation Holdings <ACEa.TO>, parent of airline Air Canada <ACa.TO>, posted a first-quarter loss on Friday because of one-time charges and said it would buy back about 42 percent of its stock. Its shares spiked C$1.41, or 7 percent, to C$21.46.

In the United States, the Dow Jones industrial average shed 120.90 points, or 0.94 percent, to close at 12,745.88. There, a dismal set of results from insurance behemoth American International Group <AIG.N> raised doubts that the end of the credit crisis was near. The tech-heavy Nasdaq moved lower by 5.72 points, or 0.23 percent, to 2,445.52.

($1=$1.02 Canadian) (Reporting by Wojtek Dabrowski; editing by Peter Galloway) ((wojtek.dabrowski@reuters.com; +1-416-941-8009; Reuters Messaging: wojtek.dabrowski.reuters.com@reuters.net)) Keywords: MARKETS CANADA STOCKS

Argentine stocks rise on safe-haven buying

Reuters: [2008-05-09 23:07:00]

BUENOS AIRES, May 9 (Reuters) - Argentine stocks bucked the downward regional trend on Friday because of safe-haven buying triggered by a prolonged farming conflict and a further weakening of the peso, traders said.

The MerVal index <.MERV> of leading stocks closed up 0.59 percent to 2,114.44 points, accumulating a gain of 0.32 percent over the course of the week despite jitters over renewed anti-government protests.

"The MerVal steered away from the global losses because a variety of rumors drove investors to look for refuge in stocks," said Ruben Pascuali, a trader at the Mayoral Bursatil brokerage.

Volume on the broad market swelled to a moderate $32 million and of active issues, 47 advanced, 24 declined and 11 were unchanged.

"Against the backdrop of uncertainty, investors found the best refuge in Petrobras Energia Participaciones <PCH.BA>," Pascuali said.

Stock in the energy firm, the Argentine arm of Brazilian state oil company Petrobras, closed up 3.83 percent to 4.33 pesos per share after it reported a higher first-quarter net profit.

Farmers lined highways for a second day on Thursday in fresh protests against a sliding-scale of grains export taxes that triggered a three-week farm strike in March.

Jitters over the dispute fueled dollar purchases, sending the Argentine peso lower for a fourth straight session. In informal trade between foreign exchange houses, as measured by Reuters, it depreciated by 0.46 percent to 3.265/3.27 per dollar <ARSB=.

However, in formal interbank trade -- where the central bank intervenes in the market to keep the currency stable -- the peso firmed by 0.08 percent to 3.175/3.1775 per dollar <ARS=RASL>.

Fresh farming protests continued to feed the cautious mood in the debt market, with locally traded bonds <AR/BONOS> falling by 0.2 percent on average due to profit-taking of gains racked up earlier in the session.

Peso-denominated Discount bonds fell 0.4 percent in over-the-counter trade while the same bond in dollars rose by the same margin.

Expectation over the release of the April inflation figure -- 0.8 percent -- also caused caution. More than 40 percent of Argentina's debt load is indexed to inflation. (Reporting by Walter Bianchi; Writing by Helen Popper; Editing by Diane Craft) ((helen.popper@thomsonreuters.com; +54-11-4318-0655; Reuters Messaging: helen.popper.reuters.com@reuters.net))

Keywords: MARKETS ARGENTINA/

STOCKS NEWS US-Next week in earnings

Reuters: [2008-05-09 23:02:00]

    Stocks on the move [HOT-RTRS] Real-time Equity news [U E] 
    U.S. stock market report [.N] 
 
1700 ET 09May2008-Next week in earnings 
------------------------------------------------------------------------------- 
    22 S&P 500 companies expected to announce Q1 2008 earnings 
    Two Dow components expected to report 
    Q1 2008 S&P 500 earnings growth rate: -17.4 percent 
    Q1 2008 S&P 500 earnings vs. expectations: -2.4 percent 
    Reuters Messaging: rm://kristina.cooke.reuters.com@reuters.net 
 
1650 ET 09May2008-Economic diary for May 12 
---------------------------------------------------------------------------  
    The economic diary for Monday includes the federal budget for April. 
    For more, please click on [ECI/US] 
 
1655 ET 09May2008-Earnings diary for May 12 
---------------------------------------------------------------------------  
     Monday's S&P 500 earnings diary includes reports from the following 
companies: 
    Sprint Nextel Corp <S.N> 
    Fluor Corp <FLR.N> 
    MBIA Inc <MBI.N> 
    For more please double click [RESF/US]     
    Reuters Messaging: rm://kristina.cooke.reuters.com@reuters.net 
    
1637 ET 09May2008-Nasdaq short interest steady in late April 
------------------------------------------------------------------------------- 
    Short interest on the Nasdaq was effectively unchanged in late April, the 
exchange said on Friday, suggesting little change in bearish sentiment in the 
stock market. 
    As of April 30, short interest held steady at about 9.59 billion shares, 
compared with roughly the same number of shares as of April 15. 
    The Nasdaq's short ratio, or the average number of days it would take to 
cover the outstanding short positions, decreased to 4.86 days from 4.92 days in 
the previous period. 
    Investors who sell securities "short" profit from betting stocks will 
fall. Short-sellers borrow shares and then sell them, waiting for the stock to 
fall so they can buy the shares back at the lower price, return them to the 
lender and pocket the difference. 
    Reuters Messaging: rm://kristina.cooke.reuters.com@reuters.net 
    
1620 ET 09May2008-Finance, Energy, Tech insiders most active buyers this week 
------------------------------------------------------------------------------- 
   Finance, Energy, and Tech company insiders were the most active sector 
buyers this past week, accounting for 76 percent of $20 million in purchases, 
according to Thomson Reuters data. 
    Insiders conducted the most buying activity, by market value, in oil & gas 
refining, regional banks, insurance, semiconductors, and equity specialty 
REITS, according to the data. Finance sector insiders purchased $8.4 million. 
    The top five buying insiders were Dan Duncan, chairman of Enterprise 
Products Partners <EPD.N>, Carl Berg a director at Mosys Systems Inc <MOSY.O> , 
Wayne Nordberg a director at Annaly Capital Management <NLY.N>, Earl Steinert 
Jr a director at Great Southern Bancorp Inc <GSBC.O>, and Antonio De Castro of 
Reynolds, a director at American Inc <RAI.N>. Shares purchased by the top five 
cost $4.3 million. 
    Reuters Messaging: rm://kristina.cooke.reuters.com@reuters.net 
    
1616 ET 09May08-FedEx shares fall after the bell 
------------------------------------------------------------------------------- 
  Shares of FedEx Corp <FDX.N> fell 2.6 percent to $88.00 in extended trade on 
Friday after the delivery company lowered its fourth-quarter earnings per share 
guidance. For details see [ID:nWNAS3390] 
   Reuters Messaging: rm://kristina.cooke.reuters.com@reuters.net 
    
1612 ET 09May08-US STOCKS-AIG's loss and record oil sour Wall St mood 
------------------------------------------------------------------------------- 
    U.S. stocks fell on Friday as the price of oil set another record and 
concerns about the financial sector flared up again after American 
International Group Inc <AIG.N> reported a massive loss. 
    For more, please click on [.N] 
    Reuters Messaging: rm://kristina.cooke.reuters.com@reuters.net 
    
1535 ET 09May2008-First-quarter results seen falling 17.4 pct 
------------------------------------------------------------------------------ 
     As of Friday, first-quarter earnings were expected to decline 17.4 
percent, according to the latest Thomson Reuters earnings report. 
     Financial sector results are seen down 78.9 percent while consumer 
discretionary companies are seen down 23 percent. 
    Reuters Messaging rm://caroline.valetkevitch.reuters.com@reuters.net 
 
Keywords: MARKETS STOCKSNEWS