Dec 6 Toronto's main stock index looked set to
open little changed on Thursday as investors focused on U.S.
budget talks after President Barack Obama said a deal was
possible in "about a week" if Republicans compromise on taxes.
Investors were also watching comments from a news conference
by European Central Bank President Mario Draghi after the ECB's
* The European Central Bank held its main interest rate at a
record low of 0.75 percent, holding off any further policy
easing while it assesses the economic outlook and waits for the
chance to use its new bond-purchase programme.
* Toronto-Dominion Bank's reported a flat quarterly profit
and said it would buy Epoch Holding Corp, which owns Epoch
Investment Partners, for $668 million in cash.
* Canadian Imperial Bank of Commerce reported a 13 percent
increase in quarterly earnings, driven by higher income from its
wholesale banking and wealth management businesses.
* National Bank of Canada's fourth-quarter profit rose 20
percent, driven by a sharp jump in markets-related revenue, and
the bank raised its dividend by 5 percent.
* Canadian dollar-store operator Dollarama Inc's
third-quarter profit rose 23 percent on higher sales and new
* Research In Motion outlined a step-by-step program to help
its large base of enterprise clients transition across to its
soon to be launched new BlackBerry 10 platform.
* Canada stock futures were little changed
* U.S. stock futures , , were down
around 0.09 percent
* European shares, were up
COMMODITY PRICE MOVES
* Thomson Reuters-Jefferies CRB Index : 297.9562;
fell 0.14 percent
* Gold futures : $1,692.1; fell 0.02 percent
* US crude : $87.53; fell 0.4 percent
* Brent crude : $108.31; fell 0.46 percent
* LME 3-month copper : $8,053; fell 0.27 percent
CANADIAN STOCKS TO WATCH
* Air Canada and WestJet Airlines : The
airlines flew more passengers in November as demand for air
travel remains robust, while regional carrier Porter Airlines
reported a slump from last year's levels.
* Husky Energy Inc. : The company and the United
Steelworkers union have reached a tentative agreement on a new
contract for the 235 hourly workers at the company's 155,000
barrel per day Lima, Ohio refinery, the union and company said
Following is a summary of research actions on Canadian
companies reported by Reuters.
* Primaris Retail Real Estate Investment Trust :
Canaccord Genuity raises price target to C$27.50 from C$27, CIBC
raises target price to C$27.50 from C$24.50 and National Bank
Financial raises target price to C$28 from C$26.25 after a
consortium led by KingSett Capital offered about C$2.6 billion
to acquire the company.
* Canadian Pacific Railway Ltd. : Citigroup raises
price target to $111 from $100 after the company announced
turnaround measures including job-cuts which would add to cash
flow and reduce operating costs
* Laurentian Bank : Canaccord Genuity cuts price
target to C$51.50 from C$54.25 and National Bank Financial cuts
to underperform from sector perform after the company reported
weak fourth-quarter results on higher-than-expected expenses and
lower fee income.
* Niko Resources Ltd. : Canaccord Genuity raises to
buy rating on high-impact exploration drilling over the coming
year but cuts price target to C$13.50 on valuation including
developed and undeveloped discoveries, funding shortfalls, and
potential legal liabilities
ON THE CALENDAR
* Major Canadian economic data includes building permits and
* Major U.S. events and data includes challenger layoffs,
initial claims and continuing claims