Dec 24 Toronto's main stock index looked set to
track the U.S. market lower on Monday, amid caution over stalled
talks about the U.S. fiscal cliff, with both President Barack
Obama and House Speaker John Boehner out of Washington for the
* The wheels could come off the U.S. economy even before it
has shifted out of second gear unless politicians reach a
last-minute deal to avoid $600 billion in tax rises and spending
cuts that kick in next month.
* Rosneft said it secured combined loans of $16.8 billion to
finance the acquisition of 50 percent stake in Anglo-Russian oil
producer TNK-BP from BP.
* The London Stock Exchange cut its offer for a majority
stake in transatlantic clearing house LCH.Clearnet by a quarter
to 366 million euros to reflect new capital requirements.
* Two days after stepping down, Mario Monti announced on
Sunday he would consider seeking a second term as Italian prime
minister if approached by allies committed to backing his
austere brand of reforms.
* U.S. stock futures , , were down
around 0.27 percent to 0.43 percent
* European shares, were down
COMMODITY PRICE MOVES
* Thomson Reuters-Jefferies CRB Index : 293.7841;
fell 0.27 percent
* Gold futures : $1,661.4; rose 0.14 percent
* US crude : $88.44; fell 0.25 percent
* Brent crude : $108.36; fell 0.56 percent
* LME 3-month copper : $7,804; fell 0.34 percent
CANADIAN STOCKS TO WATCH
* Great-West Life co. : Canada Life, a unit of the
life insurer is close to a deal for state-rescued insurer Irish
Life, a source familiar with the negotiations said on Sunday.
* SNC-Lavalin Group Inc. : The engineering company
said on Friday that a client had notified the company that it
was terminating an engineering, procurement and construction
contract awarded to SNC for a froth treatment plant in Alberta's
oil sands last November.
Following is a summary of research actions on Canadian
companies reported by Reuters.
* Research In Motion : Exane BNP Paribas cuts target
price to $5.50 from $8.30; rating neutral
* Americas Petrogas Inc : RBC cuts target price to C$5
from C$7 citing higher political risk surrounding the
exploration of shale gas in the Neuquen basin
* Cogeco Cable : Canaccord Genuity cuts target price
to C$41 from C$43, maintains caution on the takeover of PEER 1
Network Enterprises Inc by the company citing doubts on
near-to-medium term dividend growth
* Madalena Ventures : RBC cuts target price to C$0.70
from C$1.70 to reflect increased risks and a slower exploitation
of the Neuquen Basin
ON THE CALENDAR
* No major Canadian economic data scheduled for release
* No major U.S. events and data scheduled for release