Dec 20 Toronto stock index futures pointed to a
slightly higher open on Thursday, but gains could be limited by
uncertainty over U.S. budget talks, with Republicans set to
introduce their 'Plan B'.
* The conflict over the stalled "fiscal cliff" talks grew
more heated Wednesday and threatened to become even more when
the action is expected to shift for the first time to the floor
of the U.S. House of Representatives.
* IntercontinentalExchange is in talks to buy New York Stock
Exchange owner NYSE Euronext, in a multi-billion dollar deal
designed to push it into the big league of European derivatives
and take on arch rival CME Group.
* The telecom network equipment maker will take an 8 billion
crown charge on its ST-Ericsson venture, underscoring the
uncertainty over the loss-making project after partner STMicro
said it was pulling out.
* European Union regulators dropped an antitrust
investigation into Thomson Reuters on Thursday after
the company made it easier for customers using its financial
instrument codes to switch to competing services.
* Canada's Neptune Technologies & Bioressources Inc
rejected claims it misled investors about the benefits of an
expansion at its plant, which was subsequently destroyed by fire
* Canada stock futures traded up 0.07 percent
* U.S. stock futures , , were mixed
around -0.02 percent and 0.06 percent
* European shares, were up
COMMODITY PRICE MOVES
* Thomson Reuters-Jefferies CRB Index : 295.7174;
fell 0.12 percent
* Gold futures : $1,671; rose 0.27 percent
* US crude : $90.04; rose 0.07 percent
* Brent crude : $110.31; fell 0.05 percent
* LME 3-month copper : $7,820; fell 1.34 percent
CANADIAN STOCKS TO WATCH
* Canadian Pacific Railway : The company said on
Wednesday that a government arbitrator has issued his decision
on a new labor deal with the Teamsters Canada Rail Conference,
which represents some 5,000 engineers, conductors and traffic
Following is a summary of research actions on Canadian
companies reported by Reuters.
* Belo Sun Mining : CIBC raises price target to
C$2.75 from C$2.50 after the company released an updated
resource estimate for the Volta Grande project that includes an
increase in both, total ounces and grade.
* Canexus Corp. : CIBC raises price target to C$10
from C$9 following the company's equity offering and the
company's agreement with MEG for pipeline transloading at
* Eacom Timber : Canaccord Genuity raises price
target to C$0.40 from C$0.30, says the company stands to benefit
from higher lumber prices and increased demand.
* Genivar Inc. : RBC cuts price target to C$22 from
C$24 to reflect slower 2013 organic growth on account of
* Stantec Inc. : RBC raises to outperform from
sector perform and raises price target to C$47 from C$42, says
the company is most defensive in terms of earnings
predictability citing healthy business fundamentals.
ON THE CALENDAR
* Major Canadian economic data includes retail sales
* Major U.S. events and data includes real GDP, final sales,
personal consumption expenditure, initial claims, corporate
profits, lead indicators and existing home sales