Aug 28 Canada's main stock index looked set to
open higher on Tuesday after two major banks reported
stronger-than-expected quarterly results, while the market
remained focused on a crucial meeting of central bankers later
in the week.
* Bank of Montreal reported a 37 percent jump in
quarterly profit, topping expectations, and the company raised
its quarterly dividend.
* Bank of Nova Scotia profit rose 57 percent in the
fiscal third quarter, helped by a C$614 million gain from the
sale of its corporate headquarters in Toronto, it said.
* European Central Bank President Mario Draghi will not
attend the annual Jackson Hole meeting of central bankers at the
end of this week due to a heavy workload, the ECB said on
Tuesday as its policymakers gear up for a critical meeting on
* The Spanish economy shrank 0.4 percent in the second
quarter on a quarterly basis as forecast in a flash estimate and
after shrinking by 0.3 percent in the first quarter, final
official data showed on Tuesday.
* Japan's government cut its assessment for the
export-reliant economy on Tuesday for the first time since
October 2011, as slowing global growth weighed on exports and
factory output, and threatened recovery prospects.
* Canada stock futures traded up 0.2 percent
* U.S. stock futures , , were mixed in
the range of -0.02 to 0.04 percent
* European shares, were down
COMMODITY PRICE MOVES
* Thomson Reuters-Jefferies CRB Index : 306.13; rose
* Gold futures : $1,661.5; fell 0.65 percent
* US crude : $96.28; rose 0.85 percent
* Brent crude : $112.6; rose 0.3 percent
* LME 3-month copper : $7,610; fell 0.39 percent
CANADIAN STOCKS TO WATCH
* Coeur d'Alene Mines Corp. : The miner said it
resumed full production at its silver-gold mine in northern
Mexico, where it suspended work on Sunday following a worker's
* Viterra Inc. : The closing of Glencore International
Plc's C$6.1-billion takeover of the grain handler will stretch
into September, Viterra said on Monday.
* Lundin Mining Corp. : The base metal miner said on
Monday it has restarted production from Aguablanca, nearly two
years after heavy rains caused a landslide at the nickel-copper
mine in Spain.
Following is a summary of research actions on Canadian
companies reported by Reuters.
* Cameco Corp. : Canaccord Genuity cuts target price
to C$29 from C$31 on valuation
* Davis + Henderson Corp : CIBC ups target to C$23
from C$21, expects the company will continue to use its cash
flow to make acquisitions that will strengthen its fintech
* Orezone Gold Corp : Canaccord Genuity raises target
price to C$4.25 from C$4, says the gold resource for the Bombore
project has increased 49 percent along with the grade which is
16 percent richer
ON THE CALENDAR
* No major Canadian economic data scheduled for release
* Major U.S. events and data includes S&P Case/Shiller Home
Price Index and consumer confidence