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CANADA STOCKS-TSX may open lower, all eyes on euro zone
June 13 |
June 13 (Reuters) - Toronto's main stock index looked set to open lower on Wednesday, tracking its European and U.S. counterparts, as euro zone worries intensified ahead of the weekend Greek elections and as an influential Chinese government adviser hinted at growth slowdown in the region.
* Greeks pulled their cash out of the banks and stocked up with food ahead of a cliffhanger election on Sunday that many fear will result in the country being forced out of the euro.
* Italy must implement the reforms set out by Prime Minister Mario Monti to avoid becoming the next victim of euro zone contagion after the bailout for Spain's banks, German Finance Minister Wolfgang Schaeuble told an Italian daily.
* China's annual economic growth could fall below 7 percent in the second quarter if weak activity persists in June, an influential government adviser was quoted as saying.
* Dollarama Inc, a Canadian dollar-store operator, reported a higher quarterly profit on Wednesday, driven by improvement in sales and operating margins, and announced a plan to buy back some of its shares.
* Enerplus Corp. : The oil and gas producer said on Tuesday it will cut its monthly dividend by half as it looks to cope with weak commodity prices.
* Canada stock futures traded down 0.23 percent
* U.S. stock futures , , were down around 0.2 to 0.3 percent
* European shares, were down
COMMODITY PRICE MOVES
* Thomson Reuters-Jefferies CRB Index : 270.5; fell 0.13 percent
* Gold Futures : $1,612.5; fell 0.01 percent
* US Crude : $83.09; fell 0.28 percent
* Brent Crude : $97.58; rose 0.45 percent
* LME 3-month Copper : $7,428.5; rose 0.45 percent
Following is a summary of research actions on Canadian companies reported by Reuters.
* Enerplus Corp : National Bank Financial raises to outperform from sector perform on valuation and a more positive financial outlook
* Kirkland Lake Gold Inc : CIBC cuts price target to C$22 from C$24 on valuation
* Osisko Mining Corp : CIBC cuts price target to C$13.50 from C$15.50 to reflect ongoing commissioning issues
ON THE CALENDAR
* No major Canadian economic data scheduled for release
* Major U.S. events and data includes retail sales, producer prices and Business Inventories
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