May 14 Canada's resource heavy main stock index
looked set to open lower on Monday, as the political impasse in
Greece and signs China was struggling to shore up its economy
cast a shadow on global growth prospects and hurt commodity
* Greece's president met little enthusiasm from political
leaders summoned to a final round of talks to avert a new
election, reinforcing fears the country was firmly on the path
to bankruptcy and an exit from the euro zone.
* China's central bank cut the amount of cash that banks
must hold as reserves on Saturday, freeing an estimated 400
billion yuan ($63.5 billion) for lending to head-off the risk of
a sudden slowdown in the world's second-largest economy.
* JP Morgan will move to limit the fallout from a shock
trading loss that could reach $3 billion or more by parting
company with three top executives involved in its costly failed
hedging strategy, sources close to the matter said.
* The Australian uranium miner Paladin Energy Ltd
said most local employees at its Kayelekera mine in Malawi,
southeast Africa, went on strike on Friday demanding higher pay.
* Silver Wheaton Corp reported a 20 percent
increase in first-quarter earnings, driven by increased output
from mines with which the stream financing company has silver
* Canada stock futures traded down 0.83 percent
* U.S. stock futures , , were down
around 0.63-0.76 percent
* European shares, were down
COMMODITY PRICE MOVES
* Thomson Reuters-Jeffries CRB Index : 289.32; fell
* Gold Futures : $1,563.1; fell 1.29 percent
* US Crude : $94.41; fell 1.79 percent
* Brent Crude : $110.83; fell 1.27 percent
* LME 3-month Copper : $7,875; fell 1.72 percent
CANADIAN STOCKS TO WATCH
* Legacy Oil + Gas Inc.. The company posted a
first-quarter profit on increased production and higher prices.
* Iamgold Corp. : The miner's first-quarter net
earnings from continuing operations fell 11 percent, as gold
production for the quarter fell and mining costs increased.
* Canadian Pacific : The CEO of the railway has lost
the support of two more big investors ahead of a crucial
shareholder vote, pointing to victory for activist investor
William Ackman in a bruising proxy battle.
* Toronto Dominion Bank : The bank agreed to pay $62
million to settle U.S. lawsuits accusing it of charging
customers excessive overdraft fees.
Following is a summary of research actions on Canadian
companies reported by Reuters.
* Alliance Grain Traders : Canaccord Genuity and
CIBC cut price target on weaker-than-expected quarterly results
* Crombie REIT : Canaccord Genuity raises price
target to C$16.20 from C$15.40, after recent acquisition of
* Enerplus : Macquarie cuts price target by C$1 to
C$19 on lower fund flow forecast, keeps rating neutral
* Miranda Technologies : CIBC cuts target to C$12
from C$14 on slowing growth; rating sector performer
* Osisko Mining : BMO cuts price target to C$11 from
C$15 after the company posted weaker-than-anticipated quarterly
results, rating outperform
ON THE CALENDAR
* No major Canadian economic data is due to be released