Nov 20 Canada's main stock index looked set to
open lower on Tuesday, weighed by lower commodity prices, which
fell after news of France's credit rating downgrade clouded the
outlook for the euro zone.
* Moody's stripped France of its prized triple-A badge on
Monday, cutting the sovereign credit rating on Europe's No. 2
economy by one notch to Aa1 from Aaa, citing an uncertain fiscal
outlook and deteriorating economy.
* Euro zone finance ministers are likely to give tentative
approval for the next tranche of loans to Greece although the
money is unlikely to be disbursed before December and a deal on
debt reduction may also require further talks.
* China's state-owned CNOOC Ltd has accepted management and
employment conditions set by the Canadian government to win
approval for its $15.1 billion takeover of Nexen Inc,
Bloomberg reported on Tuesday, citing two people with knowledge
of the matter.
* Germany's Bundestag lower house of parliament will vote on
the release of the latest tranche of aid for Greece next week
and Chancellor Angela Merkel's conservatives are confident it
will be approved, a senior conservative lawmaker said.
* Shareholders in commodities trader Glencore have
overwhelmingly approved its long-awaited $31 billion takeover of
miner Xstrata, paving the way for one of the largest tie-ups in
the sector to date.
* Canada stock futures traded down 0.15 percent
* U.S. stock futures , , were mixed
around -0.13 percent to 0.13 percent
* European shares, were down
COMMODITY PRICE MOVES
* Thomson Reuters-Jefferies CRB Index : 298.35;
fell 0.14 percent
* Gold futures : $1,734; were unchanged
* US crude : $88.86; fell 0.47 percent
* Brent crude : $111.53; fell 0.15 percent
* LME 3-month copper : $7,743.5; fell 0.78 percent
Following is a summary of research actions on Canadian
companies reported by Reuters.
* ARC Resources Ltd. : Canaccord Genuity ups to buy
from hold and raises target to C$27 from C$26 citing improving
results from the company's Montney project, better management of
its decline rate and capital efficiency.
* Canadian Satellite Radio Holdings Inc. : Canaccord
Genuity raises target to C$6.30 from C$5.60 after the company
initiated a quarterly dividend and offered a special dividend.
* Copper Mountain Mining Corp. : Canaccord Genuity
starts with buy and target price C$5 on the company's production
growth, exploration potential and attractive valuation.
* Nuvista Energy Ltd. : Canaccord Genuity ups to buy
from sell and raises target to C$5.75 from C$5 after the company
announced an equity financing programme .
* Partners Real Estate Investment Trust : CIBC
cuts target to C$8 from C$8.50 on valuation.
ON THE CALENDAR
* Major Canadian economic data includes wholesale trade
* Major U.S. events and data includes housing starts,
building permits and redbook