Sept 11 Canadian stocks looked set to open
slightly weaker on Wednesday, with a drop in the price of gold
on hopes diplomacy will avert a U.S. military strike on Syria
expected to weigh on shares of bullion producers.
* Britain's unemployment rate dropped in July to its lowest
since late last year, adding to speculation that the Bank of
England may raise interest rates earlier than it has predicted.
* Syria accepted a Russian proposal on Tuesday to give up
chemical weapons but U.S. President Barack Obama said it was too
early to tell if the initiative would succeed and he vowed to
keep military forces at the ready to strike if diplomacy fails.
* European Commission President Jose Manuel Barroso declared
that economic recovery was within sight after nearly four years
of Europe's debt crisis and urged governments to move faster to
complete a stalled banking union.
* The Canadian and Ontario governments said on Tuesday they
would sell nearly a quarter of their common shares in General
Motors Corp, part of a longer-term plan to shed the stock they
acquired in 2009 when they helped the U.S. government bail out
* Canada stock futures were lower
* U.S. stock futures , , were mixed
around -0.4 percent to 0.01 percent
* European shares, were down
COMMODITY PRICE MOVES
* Thomson Reuters-Jefferies CRB Index : 290.6439;
was unchanged 0 percent
* Gold futures : $1,360.1; fell 0.29 percent
* US crude : $107.2; fell 0.18 percent
* Brent crude : $111.53; rose 0.25 percent
* LME 3-month copper : $7,195.25; rose 0.35 percent
CANADIAN STOCKS TO WATCH
* AGF Management Ltd : The company hopes to lure
Canadian investors back to its mutual fund lineup with a new
class of equity funds whose goal is simple: not to lose money.
* BlackBerry : The struggling smartphone maker cut
several dozen jobs from its U.S. sales team on Monday, the Wall
Street Journal reported, citing people familiar with the matter.
* TransCanada Corp : As the State Department drags
out the approval of the Keystone XL pipeline, it is more likely
President Barack Obama's final decision on the project to help
link Canada's oil sands to U.S. refineries will slip into 2014,
Following is a summary of research actions on Canadian
companies reported by Reuters.
* Aurora Oil & Gas Ltd : CIBC raises price target to
C$4.75 from C$4.50 for the company's large inventory of
high-quality drilling locations and its solid funding position.
* Calfrac Well Services Ltd : CIBC raises price
target to C$41 from C$40 following the company's acquisition of
Mission Well Services, a private Texas-based fracturing company.
* Canexus Corp : CIBC cuts price target to C$10 from
C$11, expects the company's chlorate business to continue
generating stable cash flow.
* Major Drilling Group International Inc : CIBC cuts
price target to C$8.50 from C$9 on the company's
lower-than-expected first-quarter results.
ON THE CALENDAR
* No major Canadian economic data scheduled for the day
* Major U.S. events and data includes wholesale inventories