Oct 3 Canada's main stock index looked set to
open higher on Wednesday, extending gains from the previous
session on hopes of a request from Spain for a bailout, though
weak economic data from China and Europe might keep a lid on
* Dwindling new orders and faster layoffs marked a worsening
decline for euro zone companies last month, according to
business surveys that dent hopes the economy will return to
growth before 2013.
* China's normally robust services sector weakened sharply
in September to its lowest point since November 2010, as slow
growth in manufacturing finally began to feed through to the
rest of the economy, an official survey showed.
* Cable and media company Quebecor Inc bought back 30.5
million shares of unit Quebecor Media Inc from Canadian pension
fund Caisse de depot et placement du Quebec for C$1.5 billion.
* Spain's corporate tax take has tumbled by almost two
thirds from pre-crisis levels as small businesses fail and a
growing number of big corporations seek profits abroad to
compensate for the prolonged downturn at home.
* Canada stock futures traded up 0.16 percent
* U.S. stock futures , , were up
around 0.01 percent to 0.08 percent
* European shares, were down
COMMODITY PRICE MOVES
* Thomson Reuters-Jefferies CRB Index : 312.38;
fell 0.38 percent
* Gold futures : $1,777.5; rose 0.27 percent
* US crude : $91.2; fell 0.75 percent
* Brent crude : $110.54; fell 0.92 percent
* LME 3-month copper : $8,281; fell 0.53 percent
CANADIAN STOCKS TO WATCH
* Imperial Oil Ltd. : The Canadian affiliate of
Exxon Mobil Corp has drawn buyer interest for its Dartmouth,
Nova Scotia, refinery, which it put on the auction block in May
as it struggled with weak Atlantic crude oil basin margins, its
CEO Bruce March said on Tuesday.
Following is a summary of research actions on Canadian
companies reported by Reuters.
* B2Gold Corp. : Raymond James re-initiates coverage
with an outperform rating, cites the merger with Philippine
miner CGA Mining Ltd, the company's production growth and
development potential and its exploration projects.
* HealthLease Properties REIT : Canaccord Genuity
starts with buy rating, says increasing market awareness of the
company's asset base presents a compelling upward revaluation
* IGM Financial Inc. : Canaccord Genuity raises
price target to C$40 from C$39, National Bank Financial raises
price target to C$44 from C$43 to reflect positive assets under
management trends in August and September.
* Paramount Resources Ltd. : Canaccord Genuity
raises price target to C$35 from C$31, CIBC ups target to
C$36.25 from C$29, on the company's stronger financial position
after its $125 million flow-through equity financing.
* Peyto Exploration & Development Corp. : Canaccord
Genuity raises target price to C$27 from C$23, cites the
company's enhanced liquids recovery projects and associated
yield uplift from future wells
ON THE CALENDAR
* No major Canadian economic data scheduled for release
* Major U.S. events and data includes ADP employment report
and ISM non-manufacturing data