June 13 Canada's main stock index looked set to
open lower on Thursday, following a global equity market
sell-off driven by worries over the possible scaling back of
central bank monetary stimulus.
Shares of Canadian grocers are expected to be active after
Sobeys parent Empire Co Ltd said on Wednesday it is
acquiring Safeway Inc's assets in Canada for $5.7 billion, in a
move that will nearly double its reach in the country's western
* The World Bank cut its outlook for global growth, saying
the economy should expand more slowly this year than last as it
cited a deeper-than-expected recession in Europe and a recent
slowdown in some emerging markets.
* The Bank of Japan expects bond yields to stabilize over
time with its flexible market operations and massive asset
purchases, a central bank policymaker said, signaling that it
has no immediate plans to take fresh steps to calm volatile
* Wal-Mart Stores Inc has in recent months been only hiring
temporary workers at many of its U.S. stores, the first time the
world's largest retailer has done so outside of the holiday
* Mining giant Rio Tinto has agreed to sell its Eagle
project to Lundin Mining Corp for $325 million in cash.
* Canada stock futures traded down 0.38 percent
* U.S. stock futures , , were down
around 0.55 percent to 0.20 percent
* European shares, were down
COMMODITY PRICE MOVES
* Thomson Reuters-Jefferies CRB Index : 284.4188;
fell 0.47 percent
* Gold futures : $1,384.6; fell 0.52 percent
* US crude : $95.33; fell 0.57 percent
* Brent crude : $103.1; fell 0.38 percent
* LME 3-month copper : $7,074.75; fell 0.64 percent
CANADIAN STOCKS TO WATCH
* Lululemon Athletica : The yogawear maker Chairman
Dennis "Chip" Wilson sold stock worth $50 million days before
shares slumped on the news of CEO Christine Day's surprise
* TransCanada Corp : Canada's National Energy Board
rejected TransCanada's request to review its decision to cut
fixed tolls on the company's mainline, a cross-country natural
gas pipeline network, the company said on Wednesday.
Following is a summary of research actions on Canadian
companies reported by Reuters.
* BlackBerry : Socgen raises to buy from sell, target
price to $17 from $13; on valuation, says the company's new
handset sales have been better-than-expected.
* Iamgold Corp : Socgen cuts target price to C$4.9
from C$5 on based on high all-in sustaining costs, declining
grades and project risks.
* Imperial Oil Ltd : RBC cuts target price to C$48
from C$49 on valuation.
ON THE CALENDAR
* Major Canadian economic data includes capacity utilization
and new housing prices
* Major U.S. events and data includes retail sales, import
and export prices, continuing claims and business inventories