August 7 Canada main stock market looked set to open lower on Wednesday after U.S. Federal Reserve officials hinted the central bank would trim its monetary stimulus program as early as next month. TOP STORIES
* The Bank of England said it planned to keep interest rates at a record low until unemployment falls to 7 percent or below, something unlikely for another three years.
* Valeant Pharmaceuticals International Inc raised its full-year adjusted profit outlook and reported a second-quarter profit, boosted by sales in its skincare acquisitions.
* Air Canada reported a jump of nearly three-fold in second-quarter operating profit as margins improved, and said capacity will increase in the current quarter.
* Brookfield Property Partners LP will buy a privately held U.S. real estate company from Japan's Kajima Corp in a C$1.1 billion deal that will increase its industrial real estate portfolio.
* Glencore Xstrata and JPMorgan Chase & Co face a U.S. lawsuit, along with the London Metal Exchange, alleging they artificially inflated aluminium prices, in the second legal challenge related to metal warehousing in a week.MARKET SNAPSHOT
* Canada stock futures traded down 0.2 percent
* U.S. stock futures , , were down around 0.3 percent to 0.19 percent
* European shares, were down COMMODITY PRICE MOVES
* Thomson Reuters-Jefferies CRB Index : 281.8231; fell 0.03 percent
* Gold futures : $1,277.5; fell 0.44 percent
* US crude : $105.3; was unchanged 0 percent
* Brent crude : $107.53; fell 0.6 percent
* LME 3-month copper : $6,930; fell 1.07 percent CANADIAN STOCKS TO WATCH
* TransCanada Corp : The company said on Tuesday it has signed an agreement with Malaysian-owned Progress Energy to transport two billion cubic feet per day of natural gas to underpin the $1.5 billion extension of its NGTL pipeline system in British Columbia. ANALYSTS' RECOMMENDATIONS
Following is a summary of research actions on Canadian companies reported by Reuters.
* Ensign Energy Services Inc : Raymond James raises price target to C$19 from C$18, says the company will also have the benefit of two full-quarters impact from its recent acquisitions: the Enviro Group rental asset acquisition and Departure directional drilling services purchase
* Foraco International SA : CIBC cuts price target to C$0.95 from C$1.25 as the company reported a weak second-quarter earnings
* Pason Systems Inc : CIBC raises rating to sector performer from sector underperformer, consider the company positively on a longer-term basis as it ends litigation that has been ongoing since 2003 and represents a smaller hit than we estimated the three suits could have totaled ON THE CALENDAR
* Major Canadian economic data includes building permits and IVEY PMI
* Major U.S. events and data includes consumer credit