Feb 28 Canada's main stock index looked set to
open higher on Friday following slightly stronger than expected
quarterly growth data, which helped offset worries surrounding
Ukraine's political situation.
Shares of Mega Brands Inc were also expected to rise
after Toymaker Mattel Inc said it agreed to buy Mega Brands for
about $460 million, including debt, to expand its construction
and arts and crafts offerings.
* Canada's economy grew at a greater-than-expected
annualized rate of 2.9 percent in the fourth quarter of 2013
after expanding by 2.7 percent in the third quarter, Statistics
Canada data indicated on Friday.
* Euro zone inflation stabilised in what the European
Central Bank has called the "danger zone" in February, data
showed, while unemployment remained stuck near record highs
ahead of an ECB policy meeting next week.
* Armed men took control of two airports in the Crimea
region on Friday in what Ukraine's government described as an
invasion and occupation by Russian forces, raising tension
between Moscow and the West.
* German retail sales posted their strongest gain in seven
years in January, reinforcing expectations that consumer
spending will support growth in Europe's largest economy this
* Salesforce.com Inc raised its full-year revenue forecast
and said it aims to improve its adjusted operating margin, after
quarterly revenue grew more than expected on strong sales at
ExactTarget, an email marketing firm it acquired in June.
* Canada stock futures traded higher
* U.S. stock futures , , were down
around 0.04 to 0.13 percent
* European shares, were down
COMMODITY PRICE MOVES
* Thomson Reuters-Jefferies CRB Index : 301.3573;
fell 0.3 percent
* Gold futures : $1,328.8; fell 0.21 percent
* US crude : $102.35; fell 0.05 percent
* Brent crude : $108.68; fell 0.26 percent
* LME 3-month copper : $7,035.25; rose 0.15 percent
Following is a summary of research actions on Canadian
companies reported by Reuters.
* Agrium Inc : Susquehanna raises target price to
$115 from $110 citing the company's better-than-expected retail
results in the fourth quarter and its dividend yield.
* Avigilon : CIBC raises target price to C$50 from
C$32 on expectations that the company's fourth-quarter results
will beat estimates when it reports results later next week
* Catamaran Corp : CIBC cuts to sector performer
from sector outperformer based on the company's weak outlook for
the year ahead, sees margin pressure into 2015
* Valeant Pharmaceuticals International Inc : BMO
raises target price to $164 from $162 on the company's largely
in-line fourth-quarter results, sees opportunities for improving
overall operational efficiency
ON THE CALENDAR
* Major Canadian economic data include GDP
* Major U.S. events and data includes Chicago PMI and
pending home sales data