Jan 15 Canada's main stock index looked set to
extend previous session's gains on Wednesday, mirroring global
markets, after the World Bank's positive global growth outlook
buoyed investor sentiment.
* The World Bank on Tuesday raised its forecast for global
growth for the first time in three years as advanced economies
started to pick up pace, led by the United States.
* Bank of America, the second-largest U.S. bank,
reported an eight-fold jump in fourth-quarter profit, driven by
a steep fall in provisions to cover bad loans.
* Auto parts maker Magna International Inc forecast
2014 sales below analysts' expectations due to lower revenue in
its complete vehicle assembly business.
* Deutsche Bank, Germany's biggest bank, suspended several
currency traders in New York in an internal probe, part of an
international investigation into alleged manipulation of the
global currency markets, a source familiar with the matter said.
* A Japan Airlines Boeing 787 Dreamliner remained grounded at
Tokyo's Narita International Airport as regulators demanded
checks to see if the aircraft was fit to fly, a day after white
smoke vented from the plane and a battery cell showed signs of
* Canada stock futures traded up 0.06 percent
* U.S. stock futures , , were up around
* European shares, were up
COMMODITY PRICE MOVES
* Thomson Reuters-Jefferies CRB Index : 277.3225;
fell 0.02 percent
* Gold futures : $1,241.1; fell 0.2 percent
* US crude : $92.91; rose 0.35 percent
* Brent crude : $106.12; fell 0.25 percent
* LME 3-month copper : $7,290.75; rose 0.15 percent
CANADIAN STOCKS TO WATCH
* Allied Nevada Gold Corp : The gold miner questioned
the credibility of a takeover offer that caused shares of the
company to jump on Tuesday, saying that investors should review
the hastily withdrawn release with caution.
Following is a summary of research actions on Canadian
companies reported by Reuters.
* Canexus Corp : CIBC cuts to sector performer from
sector outperformer, and target price to C$7.50 from C$9 after
the company increased its capex estimates
* Cogeco Cable Inc : CIBC raises to sector
outperformer from sector performer and target price to C$56 from
C$53, as the company's EBITDA was a touch off given higher
corporate costs in the quarter
* Paladin Energy : Raymond James raises to market
perform from underperform and target price to C$0.50 from
C$0.30, to reflect greater likelihood of Langer sale success
ON THE CALENDAR
* Major Canadian economic data includes manufacturing sales
* Major U.S. events and data include producer prices, Beige