May 6 Canada's main stock index looked set to
open higher on Monday, helped by gains in some commodities after
Friday's encouraging U.S. jobs data alleviated fears of a
possible slowdown in the world's largest economy.
Oil rose above $105 a barrel to its highest in nearly a
month as an Israeli air strike on a Syrian military facility
refocused attention on Middle East supply risks.
* The euro zone's business downturn dragged on in April,
suggesting the region may be falling deeper into recession this
quarter, business surveys showed.
* Growth in China's services sector slowed sharply in April
to its lowest point since August 2011, a private sector survey
showed - fresh evidence of rising risks to a revival in the
world's No.2 economy.
* A private equity group made up of Bain Capital and Golden
Gate Capital Corp are nearing a deal to acquire BMC Software and
an announcement could come as early as Monday, two people
familiar with the matter told Reuters.
* Magna International Inc plans to cut jobs in
Europe and the United States as it seeks to reduce costs and
offset weak demand in Europe, Chief Executive Donald Walker told
German magazine WirtschaftsWoche.
* Warren Buffett's Berkshire Hathaway Inc on Friday said
quarterly profit rose nearly 51 percent on a solid performance
in insurance and by many of its other businesses, as well as
gains from investments and derivatives.
* Canada stock futures traded up 0.03 percent
* U.S. stock futures , , were around
-0.01 percent to 0.07 percent
* European shares, were down
COMMODITY PRICE MOVES
* Thomson Reuters-Jefferies CRB Index : 290.4438;
fell 0.09 percent
* Gold futures : $1,475; rose 0.73 percent
* US crude : $95.72; rose 0.12 percent
* Brent crude : $104.54; rose 0.34 percent
* LME 3-month copper : $7,270; rose 6.45 percent
CANADIAN STOCKS TO WATCH
* Onex Corp : The private equity company said it
will buy TV ratings firm Nielsen Holdings N.V.'s expositions
business for $950 million.
Following is a summary of research actions on Canadian
companies reported by Reuters.
* Air Canada : Canaccord Genuity cuts target price
to C$5.25 from C$5.50 citing uncertainties, says ongoing
competition in certain markets continue to hurt.
* Canadian REIT : CIBC ups target to C$49 from
C$46 after the REIT posted in-line first-quarter funds from
operations and announced a 6.5 percent increase to its
* Eldorado Gold : RBC cuts to sector perform from
outperform and downs price target to $9 from $9.50 after the
company posted a first-quarter loss, is cautious about ongoing
permitting delays and a highly politicized situation in Greece
regarding the company's build-out plans.
* IGM Financial Inc : Canaccord Genuity raises
target price to C$47 from C$46 to reflect assumed increase in
management fee after the company posted higher-than-expected
ON THE CALENDAR
* Major Canadian economic data includes building permits and
* Major U.S. events and data includes employment index