Dec 5 Canada's main stock index looked set to
open higher on Wednesday, taking cues from global markets, as
remarks from Chinese Communist Party chief Xi Jinping raised
hopes for stable growth in the world's second-largest economy.
* China will maintain its fine-tuning of economic policies
in 2013 to ensure stable economic growth, state television
quoted Chinese Communist Party chief Xi Jinping as saying.
* A consortium led by Canadian private equity firm KingSett
Capital said it plans to make an offer to acquire Primaris
Retail Real Estate Investment Trust in a deal valued
at about C$4.4 billion.
* Canadian Pacific Railway Ltd said it would cut
4,500 jobs by 2016 as part of a drive by its new CEO to slash
costs and improve its operating efficiency, now the industry's
* A conglomerate controlled by Thailand's richest man,
Dhanin Chearavanont, has bought a minority stake in China's Ping
An Insurance for $9.38 billion from global bank HSBC, a bold
move that ranks as Asia's second-largest deal this year.
* Spain fell short of its targeted amount at a triple bond
auction, prompting a rise in yields on the secondary market as
investors await the government's move to trigger European
Central Bank bond-buying.
* Canada stock futures traded up 0.50 percent
* U.S. stock futures , , were up
around 0.17 percent to 0.34 percent
* European shares, were up
COMMODITY PRICE MOVES
* Thomson Reuters-Jefferies CRB Index : 298.3116;
rose 0.22 percent
* Gold futures : $1,706; rose 0.68 percent
* US crude : $88.7; rose 0.23 percent
* Brent crude : $110.19; rose 0.32 percent
* LME 3-month copper : $8,043; rose 0.14 percent
CANADIAN STOCKS TO WATCH
* Rio Verde Minerals Development Corp. : B&A
Mineração SA, the mining venture co-founded by former Vale SA
CEO Agnelli and investment bank BTG Pactual Group, has offered
to buy all of the company, a source with direct knowledge of the
situation told Reuters.
Following is a summary of research actions on Canadian
companies reported by Reuters.
* Allied Properties REIT : RBC raises to outperform
from sector perform and raises price target C$36 from C$35
citing the company's strong liquidity, low payout and advancing
internal growth opportunities
* Bank of Montreal : Barclays raises price target to
C$60 from C$58 and Canaccord Genuity raises target price to C$66
from C$65 after the bank reported strong fourth-quarter results
* Canadian Western Bank : Canaccord Genuity cuts to
hold from buy and cuts price target to C$30 from C$32.75 to
reflect lower loan growth expectations and unsustainably low
provision for credit losses
ON THE CALENDAR
* No major Canadian economic data scheduled for release
* Major U.S. events and data includes ADP national
employment, productivity, unit labour costs, factory orders,
durable goods and ISM non-manufacturing index