CANADA STOCKS-TSX may open higher on resources, euro zone eyed

TORONTO, Feb 8 - Canada's main stock market index could open higher on Monday as firm gold and energy prices and a deal by Canpotex to sell about 350,000 tonnes of potash to China's Sinofert <0297.HK> could help boost the commodity-laden index.

But persistent worries over euro zone sovereign debt could temper the gains.

Toronto's main stock market index fought its way to a higher close on Friday, pushed up by Barrick Gold Corp <ABX.TO> and other heavyweight gold miners, after touching a three-month low earlier in the day. [ID:nN05113397]

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

EURO ZONE WORRIES

The euro and growth-linked currencies fell on Monday as investors unwound risky trades amid growing worries about euro zone's debt problems, dismissing assurances from European finance ministers at the weekend. [ID:nTOE61702V]

CANPOTEX DEAL

Canpotex, the export arm of Canadian potash producers, said on Monday it signed a deal to sell about 350,000 tonnes of potash to China's Sinofert <0297.HK> at competitive prices. [ID:N08104080]

FIRM OIL

Oil held above $71 a barrel on Monday, supported by a weaker U.S. dollar and as some investors viewed the previous session's decline to a near two-month low as a buying opportunity.[nSGE61708E]

GOLD RISES

Gold rose in Europe on Monday, rebounding from Friday's three-month low, as the dollar weakened against the euro, encouraging investors to buy into the metal at lower prices.[ID:nLDE6170V7]

POTASH CORP

Potash Corp of Saskatchewan <POT.TO> bought an additional 1.4 percent of fertilizer and specialty chemicals maker Israel Chemicals <ICL.TA>, raising its stake to 13.9 percent, ICL said on Sunday. [ID:nLDE61604R]

WI-LAN AGREEMENT

Technology licensing firm Wi-LAN Inc <WIN.TO> said on Monday that it has signed a letter of intent to settle a lawsuit filed against it by Canada's No. 2 phone company, Telus Corp <T.TO>.[ID:nN08135143]

VITRAN RESULTS

Canadian transportation company Vitran Corp <VTN.TO> posted a narrower quarterly loss, helped by a smaller loss from operations at its less-than-truckload segment.[nSGE6170HP]

RESEARCH ROUNDUP

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

* RBC cuts Shoppers Drug Mart Corp <SC.TO> price target to C$52 from C$56; Rating Outperform

* RBC cuts Canadian Tire Corp <CTCa.TO> price target to C$63 from C$64; Rating Sector Perform

* UBS raises BCE Inc <BCE.TO> price target to C$29.50 from C$29; Keeps Neutral rating

* UBS cuts Manitoba Telecom Services Inc <MBT.TO> price target to C$32 from C$34; Keeps Neutral rating.