Jan 9 Canada's main stock index looked set to
open higher on Tuesday as investor sentiment got a boost after
Alcoa opened the U.S. earnings season with an optimistic outlook
for world demand.
* Alcoa Inc, the largest aluminum producer in the U.S., is
cautiously optimistic demand for the metal will continue to grow
in 2013, helped in part by strong sales to aerospace and
* TransCanada Corp, the country's largest pipeline
company, said it has been chosen by Progress Energy Canada Ltd
to design, build and operate a gas transmission project
in British Columbia.
* Eldorado Gold Corp said it will boost gold output
by 7 percent to 10 percent in 2013, as it ramps up production at
its Efemcukuru mine in Turkey.
* The Federal Reserve's latest stimulus plan will not do much
to boost growth and raises the risk of inflation next year,
Richmond Fed Bank President Jeffrey Lacker said on Tuesday,
echoing remarks he made last week.
* Britain's goods trade deficit narrowed in November as
exports rose more than imports, official data showed on
* The Bank of Japan will consider easing monetary policy
again this month while also mulling a doubling of its inflation
target to 2 percent, sources say, as the economy's weakness
threatens to delay its escape from two decades of deflation.
* Canada stock futures traded up 0.14 percent
* U.S. stock futures , , were up around
* European shares, were up
COMMODITY PRICE MOVES
* Thomson Reuters-Jefferies CRB Index : 295.0876;
rose 0.01 percent
* Gold futures : $1,658.6; fell 0.17 percent
* US crude : $93.24; rose 0.1 percent
* Brent crude : $112.05; rose 0.1 percent
* LME 3-month copper : $8,125; rose 0.56 percent
CANADIAN STOCKS TO WATCH
* Eco Oro Minerals Corp. : Colombia will create a
wilderness park and prohibit mining in a region rich in gold and
silver in the country's northeast where the company had hoped to
produce precious metals, the government said on Tuesday.
Following is a summary of research actions on Canadian
companies reported by Reuters.
* Petrobank Energy And Resources Ltd. : Barclays cuts
to underweight from overweight, cuts target price to C$1.25 from
C$14, after the company completed the spin-out of its
PetroBakken ownership stake
* Goldcorp Inc. : RBC cuts target price of the
U.S.-listed stock to $49 from $55 after the company provided a
lower-than-expected 2013 outlook
* Richelieu Hardware Ltd. : National Bank Financial
cuts to sector perform from outperform on valuation with the
current share price exceeding the price target
ON THE CALENDAR
* Major Canadian economic data includes housing starts
* No major U.S. events and data are scheduled to be released