March 7 Toronto's main stock index looked set to
open higher on Thursday, helped by a rise in the price of U.S.
crude and other commodities.
* The Bank of England decided not to pump more money into
Britain's ailing economy in what is likely to have been a
* The European Central Bank held its main interest rate at a
record low of 0.75 percent.
* Canadian Natural Resources Ltd reported a 58
percent fall in fourth-quarter profit after booking a foreign
exchange-related loss but the company raised its quarterly
* Rosneft, Russia's top crude producer, has signed long-term
crude supply contracts with commodity traders Glencore
International and Vitol for supply of up to 67.0 million tonnes
of crude. The deal entails a $10 billion prepayment to Rosneft
before supplies start.
* Dell Inc said shareholder Carl Icahn has urged the company
to pursue a leveraged recapitalization and pay a $9 per share
dividend instead of going private.
* Canada stock futures traded down around 0.01
* U.S. stock futures , , were up
around 0.1 percent
* European shares, were up
COMMODITY PRICE MOVES
* Thomson Reuters-Jefferies CRB Index : 290.6188;
rose 0.4 percent
* Gold futures : $1,582; rose 0.47 percent
* US crude : $90.8; rose 0.41 percent
* Brent crude : $110.62; fell 0.4 percent
* LME 3-month copper : $7,710.5; rose 0.27 percent
CANADIAN STOCKS TO WATCH
* Aurizon Mines Ltd : U.S. silver miner Hecla Mining
Co said it was confident that its deal with the company would go
through, a day after rival bidder Alamos Gold Inc said
it was close to blocking Hecla's bid.
* Canadian Pacific Railway Ltd assumes Washington
will approve the northern leg of the Keystone XL pipeline, and
remains confident in the long-term viability of its
crude-by-rail business, CEO Hunter Harrison said on Wednesday.
* TransCanada Corp : Separately, after the Keystone
XL oil pipeline cleared an important hurdle last week, critics
of the project are searching for ways to force more of the
delays that have dogged it for more than four years already.
* Linamar Corp : The auto parts maker reported a 14
percent rise in fourth quarter earnings on Wednesday, helped by
higher demand in the United States and Asia, although results
were tempered by softer demand in Europe.
Following is a summary of research actions on Canadian
companies reported by Reuters.
* Dorel Industries Inc : CIBC raises price target
to C$42 from C$40 on valuation following better-than-expected
fourth-quarter results, says lower R&D expenses positively
impacted results and operational expenses were well controlled.
* Linamar Corp : Canaccord Genuity raises target
price to C$30 from C$29 following in-line fourth-quarter
results, expects high single-digit sales growth and modest
margin expansion going forward.
* Morneau Shepell Inc : CIBC raises price target to
C$15 from C$14 on expectations of margin recovery and
cross-selling opportunities post integration, says the company
is well positioned with stable recurring revenue.
* Talisman Energy Inc : Canaccord Genuity raises
target price to $16 from $14.50 after investor day, says the
company has an attractive asset base and can be acquired by a
* Trilogy Energy Corp : CIBC raises price target to
C$35 from C$34 on valuation after it posted higher-than-expected
ON THE CALENDAR
* Major Canadian economic data includes building permits,
trade deficit and January exports and imports.
* Major U.S. events and data includes international trade
data for January, weekly jobless claims and productivity data