Jan 24 Canada's main stock index looked set to
open lower on Friday as emerging market currencies fell on a
sell-off accelerated by worries surrounding China and U.S.
* Japanese government calculations indicate that Prime
Minister Shinzo Abe cannot meet his budget-balancing promise in
coming years on the current course, suggesting he may come under
greater pressure from fiscal hawks for future tax increases.
* Procter & Gamble Co, the world's largest household products
maker, reported lower quarterly profit, hurt by unfavorable
currency movements and lower gross profit margin.
* Business software maker Open Text Corp's
second-quarter results beat analysts' estimates, driven by
higher license sales and customer service revenue.
* Bristol-Myers Squibb Co's quarterly sales and earnings beat
Wall Street expectations, helped by cost cuts and growing sales
of its treatments for cancer, blood clots and diabetes.
* Microsoft Corp posted a bigger-than-expected quarterly
profit on Thursday, boosted by strong sales of its software and
services for businesses, a solid holiday season for its new Xbox
game console and Surface tablets, and a slightly lower tax bill.
* Canada stock futures traded down 0.5 percent
* U.S. stock futures , , were down
around 0.54 percent to 0.71 percent
* European shares, were down
COMMODITY PRICE MOVES
* Thomson Reuters-Jefferies CRB Index : 281.943;
rose 0.02 percent
* Gold futures : $1,269.3; rose 0.53 percent
* US crude : $96.99; fell 0.34 percent
* Brent crude : $106.71; fell 0.81 percent
* LME 3-month copper : $7,222; rose 0.22 percent
CANADIAN STOCKS TO WATCH
* Enbridge Inc : CEO Al Monaco said on Thursday that
an amendment to the U.S. presidential permit for its Alberta
Clipper pipeline, which the company needs to expand the line's
capacity, will likely be delayed past a previous target of
Following is a summary of research actions on Canadian
companies reported by Reuters.
* Avigilon : CIBC raises target price to C$50 from
C$32, says introduction of a partner loyalty program will lead
to 2014 sales beating consensus
* Barrick Gold Corp : RBC raises target price to $23
from $20 says the company's shares should re-rate higher and
return to their valuation range prior to the discount created by
Pascua-Lama capital escalation and a weak balance sheet
* OpenText Corp : CIBC raises target price to $110
from $95 based on the company's quarterly results beating
estimates and its acquisition of GXS
* Semafo Inc : CIBC raises target price to C$4.25
from C$3 citing the company's continues to deliver steady
operational results and its ability to advance
development/production of new deposits at Mana
ON THE CALENDAR
* Major Canadian economic data includes inflation
* No major U.S. events and data scheduled for release