April 11 Canada's main stock index looked set to
open lower on Thursday, as positive U.S and Chinese economic
data was offset by a drop in the price of bullion to a one-week
low and fears that the U.S. Federal Reserve might stop its bond
buying program by year-end.
* The number of Americans filing new claims for unemployment
benefits fell more than expected last week, which could ease
fears of a marked deterioration in labor market conditions after
a surprise stumble in job growth in March.
* Chinese banks made 1.06 trillion yuan of new local
currency loans in March, central bank data showed, well above
market expectations and adding to evidence of an economic
recovery being fueled by ample credit.
* Personal computer sales plunged 14 percent in the first
three months of the year, the biggest decline in two decades of
keeping records, as tablets continue to gain in popularity and
buyers appear to be avoiding Microsoft Corp's new Windows 8
system, according to a leading tech tracking firm.
* Media company Corus Entertainment Inc reported
an 81 percent fall in second-quarter profit due mainly to lower
* Yum Brands Inc, the biggest foreign fast-food chain
operator in China, is in danger of breaking its 11-year streak
of double-digit profit growth as it scrambles to deal with food
scares and bird flu in its most lucrative market.
* Protective Life Corp agreed to buy a portfolio of old
policies from French insurer AXA SA's U.S. business for $1.1
billion, with the aim of squeezing more value out of them.
* Canada stock futures traded down 0.18 percent
* U.S. stock futures , , traded in the
range of -0.23 percent and 0.05 percent
* European shares, were up
COMMODITY PRICE MOVES
* Thomson Reuters-Jefferies CRB Index : 291.4702;
rose 0.06 percent
* Gold futures : $1,558; fell 0.02 percent
* US crude : $94.52; fell 0.13 percent
* Brent crude : $105.82; rose 0.03 percent
* LME 3-month copper : $7,538.25; fell 0.49 percent
CANADIAN STOCKS TO WATCH
* Hudson's Bay Co : The department store operator
reported a 6 percent lower fourth-quarter profit as superstorm
Sandy hampered sales at its Lord & Taylor stores in the United
Following is a summary of research actions on Canadian
companies reported by Reuters.
* Aura Minerals Inc : Canaccord Genuity cuts rating
to hold from speculative buy on financing concerns and weak
* Barrick Gold Corp : Canaccord Genuity cuts target
to $31 from $40 after the company announced the suspension of
construction activities on the Chilean side of the Pascua Lama
project to address environmental and other regulatory
* Eldorado Gold Corp : Canaccord Genuity cuts target
price to $12.75 from $17 following the company's announcement
that the damage to the Anglo Ferrous ship loading facility at
Santana Port, Amapa, Brazil will prevent it from shipping iron
ore in the near to medium term.
* SilverCrest Mines Inc : Raymond James starts with
outperform fueled by the installation of a mill at the Santa
Elena mine and the subsequent transition from an open-pit to
underground mine which is expected to drive near-term production
and cash flow growth.
* Santacruz Silver Mining Ltd : Raymond James starts
with outperform, says development and exploration potential
offered by the company's high quality portfolio of properties
including Rosario, San Felipe, Gavilanes, and El Gachi offers
ON THE CALENDAR
* Major Canadian economic data includes new house price
* Major U.S. events and data includes weekly jobless claims