Jan 16 Canada's main stock index looked set to
open lower as investors turned wary following a sharp cut in the
global growth outlook by the World Bank and dismal economic data
from the euro zone.
* A frustratingly slow economic recovery in developed
nations is holding back the global economy, the World Bank said,
as it sharply cut its outlook for world growth in 2013.
* The German government cut its 2013 economic growth
forecast to 0.4 percent from a previous estimate of 1.0 percent,
the Economy Ministry said on Wednesday, confirming earlier
* JPMorgan Chase & Co reported an increase in fourth-quarter
profits as the biggest U.S. bank made more home
* Goldman Sachs Group Inc said its fourth-quarter earnings
nearly tripled, driven by big gains in stock and bond values,
increased revenue from dealmaking and lower compensation
* Magna International Inc, one of the world's
biggest auto parts manufacturers, said it expects total sales of
$31.3 billion to $32.7 billion for 2013.
* Japan's two leading airlines grounded their fleets of
Boeing 787s after one of the Dreamliner passenger jets made an
emergency landing, the latest in a series of incidents to
heighten safety concerns over a plane many see as the future of
* Workers at three of Anglo American Platinum's South
African mines went on an illegal strike, the day after the
world's top producer of the precious metal announced plans to
mothball shafts and cut 14,000 jobs.
* Canada stock futures traded down 0.15 percent
* U.S. stock futures , , were mixed in
the range of 0.06 percent and -0.33 percent
* European shares, were down
COMMODITY PRICE MOVES
* Thomson Reuters-Jefferies CRB Index : 297.5109;
fell 0.2 percent
* Gold futures : $1,682.6; were unchanged
* US crude : $93.31; rose 0.03 percent
* Brent crude : $110.4; rose 0.09 percent
* LME 3-month copper : $7,933; fell 0.76 percent
CANADIAN STOCKS TO WATCH
* Antrim Energy Inc. : The company said production
at more than 20 oilfields in the northern North Sea were
disrupted after a hydrocarbon leak was detected in one of the
legs of the Cormorant Alpha platform.
* CML HealthCare Inc. : The company said it plans to
sell its diagnostic imaging business and has started talks with
potential buyers, three months after it agreed to sell its
imaging business in Alberta for C$17 million.
Following is a summary of research actions on Canadian
companies reported by Reuters.
* Cogeco Inc. : CIBC Cuts price target to C$38 from
C$40 on valuation after the company reported its first-quarter
* Labrador Iron Ore Royalty Corp. : CIBC cuts to
sector performer from sector outperformer on the company's
lower-than-expected production results and the recent increase
in its share price.
* Lundin Mining Corp. : Desjardins starts with buy
rating and price target of C$6 citing the company's high-quality
operating mines, its strong balance sheet and growth potential.
* RMP Energy Inc. : CIBC raises to sector
outperformer from sector performer and raises price target to
C$4.25 from C$3.25, says the company has done a commendable job
of increasing oil production.
* Rocky Mountain Dealerships Inc. : CIBC raises to
sector outperformer from sector performer and raises price
target to C$16 from C$13, expects margins to improve and says
outlook for new equipment sales remains robust.
ON THE CALENDAR
* No major Canadian economic data is scheduled to be
* Major U.S. events and data includes consumer price index,
real earnings, industrial output, capacity utilization,
manufacturing output and Fed's Beige Book.