Sep 10 Toronto's main stock index looked set to
open lower after Chinese data increased worries about the
slowing global economy, with investors also looking ahead to
potential U.S. Federal Reserve stimulus and a German
constitutional court ruling on the euro zone's bailout fund.
* Weak Chinese trade data on Monday underlined the
likelihood of more Beijing-backed spending to deal with the
damage done to the domestic economy by firms cutting production,
inventories and imports in the face of anemic global demand.
* Commodities trader Glencore laid out its raised
$36 billion all-share bid for Xstrata on Monday, warning
it would not improve the terms again after making concessions to
* Greek Prime Minister Antonis Samaras sought on Monday to
bridge differences with the country's lenders over a near
12-billion-euro austerity package, after they rejected parts of
the plan that Athens hopes will unlock further aid payments.
* Plains Exploration & Production Co said it will
buy BP Plc's interests in some deepwater Gulf of Mexico
oil and gas properties for $5.55 billion.
* Talisman Energy Inc , Canada's No. 5
independent oil explorer, said Chief Executive John Manzoni has
stepped down, effective immediately.
* Canada stock futures traded down 0.11 percent
* U.S. stock futures , , were down
around 0.2 percent
* European shares, were mixed
COMMODITY PRICE MOVES
* Thomson Reuters-Jefferies CRB Index : 311.57; fell
* Gold futures : $1,731.4; fell 0.35 percent
* US crude : $96.17; fell 0.26 percent
* Brent crude : $114.62; rose 0.32 percent
* LME 3-month copper : $8,055; rose 1.07 percent
Following is a summary of research actions on Canadian
companies reported by Reuters.
* Denison Mines : Raymond James cuts target to
C$1.70 from C$1.80, cuts Paladin Energy to C$2 from
C$2.20, Uranium Participation Corp to C$7.70 from C$8 to
reflect recent softness in the spot uranium market
* Lululemon : Nomura raises price target of its U.S.
listed shares to $62 from $55 based on a lower tax rate
* Manitoba Telecom Services : CIBC cuts target to
C$34 from C$37 on adjusting treatment of some capitalized
wireless costs of acquisition in order to conform with peers
* MBAC Fertilizer Corp : Canaccord Genuity cuts
price target to C$4.70 from C$4.75 after the close of equity
* Telus Corp : CIBC raises price target to C$65 from
C$61, saying it is positive given continued fundamental
execution, better geographic mix, strong competitive
positioning, and a positive dividend payout profile.
ON THE CALENDAR
* No major Canadian economic data scheduled for release
* Major U.S. events and data includes consumer credit