Nov 29 Toronto's main stock index looked set to
open higher on Thursday, tracking global markets, supported by a
rise in commodity prices on hopes lawmakers will agree on a U.S.
budget deal to avert the "fiscal cliff" of tax hikes and
* Research In Motion Ltd received a big boost on
Thursday after Goldman Sachs raised its rating on the company,
sending shares of the BlackBerry maker soaring more than 12
percent in trading before the morning bell.
* Economic morale in the euro zone improved for the first
time in almost a year in November, but industry's reluctance to
invest next year bodes poorly for a quick recovery from
* U.S. Treasury Secretary Timothy Geithner, President Barack
Obama's chief negotiator in talks to avert the "fiscal cliff,"
will meet with Congressional leaders amid signs that the
market-rattling uncertainty about the outcome could go down to
* Rio Tinto aims to axe $7 billion in costs over the next
two years and sell more assets to cushion against weaker
commodity prices, while at the same time beefing up output in
its lucrative iron ore business.
* Royal Bank of Canada's quarterly profit rose 22
percent on a sharp jump in fixed income trading revenue and
steady loan growth, Canada's largest bank said.
* Clothing maker Gildan Activewear Inc posted an 84
percent rise in fourth-quarter profit, helped by higher
printwear sales volumes, and the Canadian company increased its
quarterly dividend by 20 percent.
* Canada stock futures traded up 0.89 percent
* U.S. stock futures , , were up
around 0.60 percent
* European shares, were up
COMMODITY PRICE MOVES
* Thomson Reuters-Jefferies CRB Index : 299.0063;
rose 0.63 percent
* Gold futures : $1,726; rose 0.55 percent
* US crude : $87.91; rose 1.64 percent
* Brent crude : $110.76; rose 1.14 percent
* LME 3-month copper : $7,880; rose 1.45 percent
Following is a summary of research actions on Canadian
companies reported by Reuters.
* Inmet Mining Corp. : BMO raises target price to
C$82 from C$71.50 after it rejected a second takeover offer from
First Quantum Minerals.
* TransAlta Corp. : CIBC cuts target price to C$15
from C$16 citing lower contracted power prices and significantly
lower profitability expectations from its Centralia project.
ON THE CALENDAR
* Major Canadian economic data includes Current account
deficit, producer prices and raw material prices
* Major U.S. events and data includes building permits, GDP,
core PCE prices, initial claims and pending home sales data