Nov 27 Canada's main stock index looked set to
open higher on Tuesday after euro zone finance ministers and the
International Monetary Fund reached an agreement on a new debt
target for Greece, paving way for the next tranche of aid.
* Republicans in the U.S. Congress on Monday called on
President Barack Obama to detail long-term spending cuts to help
solve the country's fiscal crisis, while holding firm against
the income tax rate increases for the wealthy that Democrats
* Euro zone finance ministers and the International Monetary
Fund clinched agreement on reducing Greece's debt on Monday in a
breakthrough to release urgently needed loans to keep the
near-bankrupt economy afloat.
* Europe is preparing to follow the United States in
delaying the introduction of stricter rules on bank capital
while it lobbies for a rethink of the U.S. stance, EU sources
* The OECD slashed its global growth forecasts, warning that
the debt crisis in the recession-hit euro zone is the greatest
threat to the world economy.
* Russia's Nord Gold will increase its ownership of
Toronto-listed subsidiary High River Gold Ltd to 87.9
percent under a share offer that could boost its free float and
take it a step further to a premium London
* Private aviation company VistaJet said it had placed an
order for 142 Bombardier Inc business jets, worth
around $8 billion.
* Canada stock futures traded up 0.21 percent
* U.S. stock futures , , were little
changed around -0.03 to 0.22 percent
* European shares, were up
COMMODITY PRICE MOVES
* Thomson Reuters-Jefferies CRB Index : 298.8331;
rose 0.22 percent
* Gold futures : $1,749.5; unchanged
* US crude : $87.93; rose 0.22 percent
* Brent crude : $111.02; rose 0.09 percent
* LME 3-month copper : $7,807; rose 0.35 percent
CANADIAN STOCKS TO WATCH
* Major Drilling Group International Inc. : The mine
drilling company reported a 29 percent drop in quarterly profit
on Monday as many mining companies did not extend drilling
programs beyond their original budgets and as more projects were
delayed or canceled. It also warned it expects to post a
seasonal loss in its fiscal third quarter as drilling activity
slows for the holiday season.
* SNC-Lavalin Group Inc. : The engineering and
construction company said on Monday that Swiss police were
likely reviewing payments made to Dinova International Inc and
Duvel Securities Inc, companies it had retained for projects in
Libya between 2001 and 2011 as part of a broader investigation
into a former SNC executive.
Following is a summary of research actions on Canadian
companies reported by Reuters.
* Cash Store Financial Services Inc. : Canaccord
Genuity cuts price target to C$5.25 from C$7, expects clouded
near-term outlook from revenue headwinds and dividend.
* Pinecrest Energy Inc. : CIBC cuts to sector
performer from sector outperformer and cuts price target to C$2
from C$2.75 citing the company's recent merger with Spartan Oil
which could contribute to lower growth.
ON THE CALENDAR
* No Canadian economic data due to be released
* Major U.S. events and data includes Durable goods, S&P
Case/Shiller home price index, consumer confidence and FHFA home