May 8 Canada's main stock index looked set to
open higher as better-than-expected Chinese trade data coupled
with robust German industrial output data boosted the already
positive sentiment fed by global equity markets.
* China's exports and imports grew more than expected in
April, offering the possibility of a better outlook for the
world's second-largest economy. But the figures failed to put an
end to scepticism that financial maneuvering by exporters and
speculative capital inflows are masking weakness in real demand.
* Enbridge Inc reported a 31 percent rise in
first-quarter adjusted profit driven by higher volumes.
* Tim Hortons Inc, under pressure from a U.S. hedge
fund seeking better returns, named a new chief executive and the
company reported a 3 percent fall in first-quarter profit.
* Torstar Corp, the owner of Canada's largest daily
newspaper by circulation, posted a 76 percent fall in
first-quarter profit as advertisers stayed away from the printed
* Quebecor Inc first-quarter profit halved due to
higher costs, a sharp drop in media revenue and lower gains on
* Canada stock futures traded up 0.04 percent
* U.S. stock futures , , were up
around 0.03 percent to 0.12 percent
* European shares, were up
COMMODITY PRICE MOVES
* Thomson Reuters-Jefferies CRB Index : 289.9468;
rose 0.15 percent
* Gold futures : $1,462.5; rose 0.93 percent
* US crude : $95.75; rose 0.14 percent
* Brent crude : $103.92; fell 0.46 percent
* LME 3-month copper : $7,422.25; rose 2.16 percent
CANADIAN STOCKS TO WATCH
* Canadian Pacific Railway Ltd : The rail carrier
said on Tuesday it will invest an additional C$75 million to
C$100 million to bring total capital spending this year to C$1.2
billion, moving forward some of its 2014 spending projects to
* Enbridge Inc : The pipeline operator said on
Tuesday it will spend C$300 million on infrastructure to handle
expanded production from the Surmont oil sands project owned by
ConocoPhillips and French oil major Total SA.
* Iamgold Corp : The miner reported a 91 percent
fall in first-quarter profit due to lower gold production and a
decline in price of the precious metal.
* Kinross Gold Corp : The company reported slightly
lower adjusted first quarter earnings on Tuesday as its margins
slipped, even as revenue edged higher.
* Talisman Energy Inc : The Canadian oil and gas
producer said it agreed to sell its shale gas operations in
Poland to joint venture partner San Leon Energy as it looks to
boost production in its core areas of the Americas and
Following is a summary of research actions on Canadian
companies reported by Reuters.
* Fortis Inc : National Bank Financial cuts to
underperform from sector perform citing potentially unfavourable
regulatory decisions surrounding the CH Energy transaction
* Keyera Corp : CIBC raises target to C$60 from
C$57.50, citing new prospective growth projects pursued by the
* Parkland Fuel : National Bank Financial raises to
outperform from sector perform following better-than-expected
first-quarter results, says valuation levels are compelling
given the company's market position, cost savings trends,
acquisition momentum and financial health.
* Westjet Airlines : CIBC cuts to sector performer
from sector outperformer on valuation after the company reported
first-quarter results, says there is also some downside risk to
consider given the softening economy and increasing pricing
ON THE CALENDAR
* Major Canadian economic data includes housing starts
* No major U.S. events and data scheduled