Metro, RIM, Scotiabank, Thomson Reuters: Canada Equity Preview

By John Kipphoff

Nov. 19 (Bloomberg) -- The following companies may have unusual price changes in Canadian trading today. Stock symbols are in parentheses, and share prices are from yesterday's close in Toronto.

The Standard & Poor's/TSX Composite Index added 0.5 percent to 8,835.73.

Bank of Nova Scotia (BNS CN): Canada's third-largest bank by assets said after the market closed that it will record pretax charges of C$890 million ($722.3 million) in its fourth quarter related to trading and eroding values for investments. The provisions will reduce profit by C$595 million for the period ended Oct. 31, the Toronto-based bank said. The shares rose 3 percent to C$37.17.

Canadian Oil Sands Trust (COS-U CN): The lead partner in the largest oil-sands miner said the owners of Syncrude Canada Ltd. decided to convert to a bitumen-based royalty. Starting Jan. 1, Syncrude will begin paying royalties based on bitumen product, less associated operating and capital costs, rather than on fully upgraded synthetic crude oil, Canadian Oil Sands said. The units fell 3.4 percent to C$24.74.

Metro Inc. (MRU/A CN): Canada's third-biggest supermarket chain said fourth-quarter profit rose 26 percent to C$72.3 million ($59 million), or 64 cents a share, from C$57.6 million, as a food-price war in Ontario abated and the retailer began renovating stores in the province.

Revenue in the three months through Sept. 27 climbed 1.8 percent to C$2.48 billion. Seven analysts estimated Metro would earn 61 cents a share on average, according to a Bloomberg survey. Three analysts' average estimate for sales was C$2.52 billion. The shares fell 0.8 percent to C$33.

Research In Motion Ltd. (RIM CN): The maker of the BlackBerry e-mail phone was added to Goldman Sachs Group Inc.'s ``conviction buy'' list. The shares gained 12 percent to C$57.92.

Thomson Reuters Corp. (TRI CN): The provider of financial, legal and medical data were rated ``hold'' in new coverage at Jefferies & Co.

Separately, the shares will begin trading today without the right to receive its $1.62 quarterly dividend declared Nov. 10. The payout may reduce the shares' price by an equal amount as they trade ex-dividend. Thomson Reuters fell 0.2 percent to C$29.13.

Western Canadian Coal Corp. (WTN CN): The company with mines in British Columbia was rated ``buy'' in new coverage at Arbuthnot Banking Group Plc. The shares fell 6.2 percent to 76 cents.

To contact the reporters on this story: John Kipphoff in Toronto at jkipphoff@bloomberg.net.