Dec 14 Toronto's main stock index looked set to
open higher on Friday, tracking its European and U.S.
counterparts, after data showing a growth in China's
manufacturing sector reinforced recent indications that the
country's economic recovery is reviving.
* China's vast manufacturing sector expanded in December but
the euro zone is probably deeper in recession, business surveys
suggested. Composite PMI data from Germany, showed its private
sector bounced back to growth for the first time in eight months
* PetroChina will pay Encana Corp C$2.2 billion ($2.24
billion) for a 49.9 percent stake in a rich Alberta shale gas
prospect, the first test of new guidelines issued by Ottawa for
major energy investments by foreign state-owned enterprises.
* European leaders agreed to press on with further steps to
tackle their debt crisis but German Chancellor Angela Merkel
threw out a proposal to boost risk-sharing with a fund to help
euro zone states in trouble.
* The European Central Bank, poised to take over supervision
of the region's banks, said there was no room for complacency
following early signs of easing strains on financial markets.
* Japan Petroleum Exploration has decided to go ahead with a
$1.4 billion expansion of its Hangingstone oil sands project in
Canada and will initially triple output from the development,
the company said.
* Russia's Rosneft could raise as much as $10 billion on bond
markets to finance its takeover of Anglo-Russian oil firm
TNK-BP, potentially matching loans backed by future oil exports.
* Canada stock futures traded up 0.03 percent
* U.S. stock futures , , were up around
* European shares, were down
COMMODITY PRICE MOVES
* Thomson Reuters-Jefferies CRB Index : 294.4371;
rose 0.44 percent
* Gold futures : $1,696.4; rose 0.05 percent
* US crude : $86.8; rose 1.06 percent
* Brent crude : $108.8; rose 0.82 percent
* LME 3-month copper : $8,063.25; fell 0.13 percent
Following is a summary of research actions on Canadian
companies reported by Reuters.
* Kirkland Lake Gold Inc. : National Bank Financial
cuts price target to C$18 from C$26 after the company reported
weaker-than-expected second-quarter results and lowered 2014
* Whistler Blackcomb Holdings Inc. : CIBC raises price
target to C$13.25 from C$12.25 to reflect the growing track
record of solid results and sale of the 24 percent minority
ON THE CALENDAR
* Major Canadian economic data includes manufacturing sales
* Major U.S. events and data includes consumer price
inflation, real earnings, Markit flash manufacturing PMI,
industrial output and ECRI weekly data