CANADA STOCKS-TSX may open lower on fiscal cliff, Greek concerns
Nov 13 (Reuters) - Canada's main stock index looked set to open lower on Tuesday, tracking global markets, as lingering concern about a possible U.S. fiscal crisis and delays to an installment of Greek aid dampened investors sentiment.
* Amid a global fright over Washington's political brinkmanship, U.S. lawmakers return to the capital on Tuesday with a seven-week deadline to reach agreement on scheduled tax hikes and budget cuts that threaten to trigger another recession.
* A clash between Greece's international lenders over how the stricken country where the euro zone debt crisis began can bring its debts down to a sustainable level reignited fears that the crisis could flare up anew.
* Quebecor Inc reported a 29 percent fall in third-quarter profit as it took a goodwill impairment charge.
* Sears Canada Inc reported a smaller quarterly loss on Tuesday even as its sales slid.
* German analyst and investor sentiment unexpectedly fell in November as the euro zone crisis pounds Europe's largest economy and optimism spurred by the European Central Bank's announcement of an unlimited bond-buying programme wanes.
* Home Depot Inc reported a higher-than-expected third-quarter profit and raised its full-year outlook as the world's largest home improvement chain benefited from recent improvements in the U.S. housing market.
* Canada stock futures traded down 0.36 percent
* U.S. stock futures , , were down around 0.38 percent to 0.58 percent
* European shares, were down
COMMODITY PRICE MOVES
* Thomson Reuters-Jefferies CRB Index : 291.83; fell 0.26 percent
* Gold futures : $1,721.1; fell 0.53 percent
* US crude : $85.17; fell 0.47 percent
* Brent crude : $108.33; fell 0.68 percent
* LME 3-month copper : $7,613.75; fell 0.37 percent
Following is a summary of research actions on Canadian companies reported by Reuters.
* Contrans Group Inc. : National Bank Financial cuts target price to C$10.50 from C$11.50 on company's modest third-quarter results
* Parallel Energy Trust : National Bank Financial cuts target price to C$5 from C$5.50 citing an implied distribution risk for the company and regarding its leverage
* Petrobank Energy and Resources Ltd. : Barclays cuts target price to C$14 from C$15, says short-term re-rating of the company's stock as its spinout is completed will result in a much higher stub value than what is currently implied by our arbitrage analysis
* RMP Energy Inc. : National Bank Financial raises target price to C$3.75 from C$3.25 on another strong test from the company's well at Ante Creek and its focus on Montney oil
* Tricon Capital Group Inc. : Canaccord Genuity raises target price to C$6.50 from C$6.20, says as the company executes on its growth plans and cash flow continues to grow its valuation will improve
ON THE CALENDAR
* No major Canadian economic data scheduled for release
* Major U.S. events and data includes Redbook and Federal Budget
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