July 4 Canada's main stock index looked set to
open higher on Thursday as investors shifted focus from Portugal
and Egypt's political turmoil to a European Central Bank meeting
ahead of Friday's U.S. and Canadian jobs data.
Volumes were expected to be much lighter than normal with
the U.S. market closed for the July 4 holiday.
* Bank of Japan Governor Haruhiko Kuroda claimed some
success for the central bank's aggressive monetary stimulus,
saying that the economy is on track to a steady recovery with
signs inflation expectations are picking up.
* Egypt will swear in an interim leader after a tumultuous
24 hours during which the army ousted President Mohamed Mursi
and vast crowds celebrated in Cairo and Alexandria amid clashes
that cost 14 lives.
* The European Central Bank will leave interest rates
unchanged and try to reassure investors rattled by new turmoil
in Europe and the U.S. Federal Reserve's plans to begin winding
up its stimulus.
* The Bank of England, at its first policy meeting under new
governor Mark Carney, said a recent rise in bond yields was not
warranted by the state of the British economy and signaled it
could give further guidance on interest rates next month.
* Angle Energy Inc said that it may sell itself as
it estimated second quarter production to be about 10,800
barrels to 10,900 barrels of oil equivalent per day.
* Canada stock futures traded up 0.16 percent
* European shares, were up
COMMODITY PRICE MOVES
* Thomson Reuters-Jefferies CRB Index : 282.3241;
* Gold futures : $1,249; fell 0.25 percent
* US crude : $100.74; fell 0.5 percent
* Brent crude : $104.97; fell 0.75 percent
* LME 3-month copper : $6,929.75; fell 0.9 percent
Following is a summary of research actions on Canadian
companies reported by Reuters.
* Alimentation Couche-Tard : National Bank
Financial ups target to C$69 from C$62 as a result of rolling
forward earnings estimates from FY14/FY15 to FY15.
* Angle Energy Inc : National Bank Financial raises
target price to C$5 from C$4.50 to reflect the appropriate
takeout valuation associated with assets of the company's
* BCE Inc : RBC raises target price to C$42 from
C$40 to reflect the acquisition of Astral Media Inc.
* Postmedia Network Canada Corp : RBC cuts target
price to C$0.75 from C$1 following the company's third-quarter
results, which were below expectations on both revenues and
ON THE CALENDAR
* No major Canadian economic data scheduled for the day
* No major U.S. events and data as U.S. markets are closed
for Independence Day