Feb 24 Canadian stock index futures pointed to a
higher open on Monday after an unexpected rise in German
business morale boosted recent optimism over economic recovery
in the euro zone.
* German Bund futures fell to the day's low after the Ifo
business climate index in Europe's powerhouse economy rose to
111.3 from 110.6 last month. The German data lifted European
shares out of a funk caused by signs of credit restrictions in
China's property sector.
* Euro zone consumer prices fell in January at their fastest
ever pace on a monthly basis, dragged down by a slump in the
cost of non-energy industrial goods, keeping annual inflation
well below the European Central Bank's target.
* China's home price rises eased for the first time in 14
months in January, the latest sign that the government's over
four-year campaign to rein in property risk may finally be
starting to bite.
* HSBC missed market expectations with a 9 percent increase
in annual pretax profit and warned of greater volatility in
emerging markets this year.
* German drug firm Bayer has clinched a $2.9 billion deal to
take over Norwegian cancer drug maker Algeta after being
tendered 92.17 percent of the shares in a cash offer, the
* Canada stock futures traded up 0.31 percent
* U.S. stock futures , , were up
* European shares, were mixed
COMMODITY PRICE MOVES
* Thomson Reuters-Jefferies CRB Index : 303.4677;
rose 0.4 percent
* Gold futures : $1,336; rose 0.91 percent
* US crude : $102.19; fell 0.01 percent
* Brent crude : $109.66; fell 0.17 percent
* LME 3-month copper : $7,059.75; fell 1.33 percent
CANADIAN STOCKS TO WATCH
* BlackBerry Ltd : The smartphone maker said it will
make its messaging service BBM available to Microsoft's Windows
Phone and the upcoming Nokia X platforms in the coming months.
* TransCanada Corp : A small Nebraska state
commission that has never considered a major oil pipeline route
could soon play a pivotal role in deciding the fate of the
Keystone XL pipeline, a project brimming with political risk for
both the U.S. and Canadian governments.
Following is a summary of research actions on Canadian
companies reported by Reuters.
* Atco Ltd : CIBC raises price target to C$54 from
C$51 citing above-consensus fourth-quarter results, improved
industry outlook and an increased capex estimate for Vanscoy
* Canadian Utilities Ltd : CIBC raises price target to
C$42.50 from C$41 after the company's 2014 guidance beat
* Chemtrade Logistics Income Fund : CIBC raises
price target to C$22 from C$21 due to the company's acquisition
of General Chemical as it diversifies its revenue mix, adds
scale to its existing platform and increases its geographical
presence in the U.S.
* Enerplus Corp : Barclays raises target price to
C$25 from C$23 based on the company's in-line fourth-quarter
results and increase in reserves
* OceanaGold Corp : CIBC raises price target to C$3
from C$2.15 citing the company's better-than-expected
fourth-quarter results and its guidance to reduce debt in 2014
ON THE CALENDAR
* No major economic events scheduled for the day
* Major U.S. events and data includes Markit Services