Nov 8 Toronto's main stock index looked set to
open higher on Thursday after a sharp fall in the previous
session, although looming concerns about the U.S. "fiscal cliff"
could limit gains.
* The European Central Bank held its main interest rate at
0.75 percent, deferring any cut in borrowing costs while it
assesses the extent of the euro zone's economic downturn and
waits for a cue to use its new bond-purchase programme.
* Tim Hortons Inc reported a higher third-quarter profit,
helped by higher sales and a lower effective tax rate.
* Manitoba Telecom Services Inc, which has said it may sell
its Allstream business, reported a rise in third-quarter profit
on demand for wireless, broadband and IPTV services.
* Canadian Natural Resources Ltd reported a 57 percent fall
in third-quarter profit on weak prices, and cut its full-year
forecast for crude oil and natural gas liquids output.
* Manulife Financial Corp's third-quarter loss narrowed as a
stronger performance in its investment portfolio offset a C$1
billion charge related to a shift in actuarial assumptions.
* Air Canada reported a 56 percent rise in third-quarter
operating profit and said it was in talks with the government
for an extension of pension deficit funding relief.
* Canada stock futures traded up 0.19 percent
* U.S. stock futures , , were up
around 0.17 percent to 0.34 percent
* European shares, were up
COMMODITY PRICE MOVES
* Thomson Reuters-Jefferies CRB Index : 292.70;
rose 0.27 percent
* Gold futures : $1,715.9; rose 0.16 percent
* US crude : $85.35; rose 1.08 percent
* Brent crude : $107.54; rose 0.67 percent
* LME 3-month copper : $7,621.75; rose 0.22 percent
CANADIAN STOCKS TO WATCH
* Canadian National Railway Co. : Looming
legislation aimed at improving rail service for shippers in
Canada could backfire and end up making the country's sprawling
rail networks less efficient, the CEO of Canada's biggest
railroad warned on Wednesday.
* Kinross Gold Corp. : The Canadian gold miner
reported a 7 percent drop in adjusted third-quarter profit on
Wednesday, as higher costs outweighed stronger production, but
still beat analyst expectations.
* Magna International Inc. : The auto parts
manufacturer said third-quarter profit nearly quadrupled on
gains related to its purchase of the minority stake in its
electric car business.
* Research In Motion Ltd. : The company said it has
won a much-coveted U.S. government security clearance for its
yet-to-be launched platform for BlackBerry 10 devices that are
expected to hit store shelves in the first quarter of 2013.
* Sun Life Financial : The life insurer swung back
to a third-quarter profit due to better results from the
insurer's investments, it said on Wednesday.
Following is a summary of research actions on Canadian
companies reported by Reuters.
* Automation Tooling Systems Inc. : CIBC raises
target to C$8.75 from C$8.50, says the 2014 forecast is offset
by the company's Nigerian project award.
* Bombardier Inc. : SocGen cuts price target to
C$3.4 from C$3.5 and CIBC cuts target to C$4.75 from C$5.50 on
the company's weak third-quarter results and the delay of its
* Intact Financial Corp. : CIBC raises target to
C$75 from C$71 after the company reported strong third-quarter
* Rona Inc. : National Bank Financial cuts target
price to C$11 from C$12 and CIBC cuts price target to C$10.50
from C$12 citing the company's weaker-than-expected
third-quarter results and challenging market conditions.
* Westjet Airlines Ltd. : National Bank Financial
raises target to C$25 from C$23.50, BMO raises price target to
C$22 from C$20 and CIBC raises target to C$24.50 from C$22 on
the company's solid third-quarter results and its positive 2013
ON THE CALENDAR
* Major Canadian economic data includes trade deficit,
export and import
* Major U.S. events and data includes International trade,
initial claims and continuing claims