Jan 7 Canada's main stock index looked set to
open lower on Monday after Federal Reserve officials hinted that
the central bank could halt its asset purchases program in 2013.
Investors may put banking stocks in focus after global
regulators gave banks four more years and greater flexibility to
build up cash buffers.
* Global regulators gave banks four more years and greater
flexibility on Sunday to build up cash buffers so they can use
some of their reserves to help struggling economies grow.
* Euro zone sentiment improved for a fifth consecutive month
in January, with investors' expectations rising to their highest
level in almost two years after a successful Greek bond buyback
and a dip in Spanish jobless figures.
* Japan's new government will set up programs worth nearly $5
billion to boost businesses, including helping them buy foreign
companies, according to a draft economic stimulus package seen
by Reuters that could be approved this month.
* While the focus of last week's agreement between the
Federal Trade Commission and Google Inc was search, the deal's
restrictions on how Google uses its patents could have a broader
impact on the technology industry.
* Canada stock futures traded down 0.32 percent
* U.S. stock futures , , were down
around 0.03 percent
* European shares, were down
COMMODITY PRICE MOVES
* Thomson Reuters-Jefferies CRB Index : 294.368;
fell 0.07 percent
* Gold futures : $1,656.9; rose 0.72 percent
* US crude : $92.54; fell 0.59 percent
* Brent crude : $110.79; fell 0.47 percent
* LME 3-month copper : $8,044; fell 0.51 percent
Following is a summary of research actions on Canadian
companies reported by Reuters.
* Valeant Pharmaceuticals International Inc. :
Canaccord Genuity raises target price of U.S. listed shares to
$74 from $70 on revenue, EPS growth in line with expectation,
potential upside to 2013 guidance and the strong likelihood of
additional M&A activity
* Canadian Banks: Canaccord Genuity raises target price for
Bank Of Montreal from C$66 to C$68; Bank Of Nova Scotia
to C$67 from C$62; RBC to C$70 from C$65 and TD
Bank to C$98 from C$92 on cyclical and improved investor
sentiments. It believes that the banks' near-term earnings
growth guidance will be augmented by acquisitions and some buy
* Canadian Pacific Railway : Barclays raises target
price to $121 from$110 on renewed operational discipline which
provides the potential to nearly double earnings for the company
ON THE CALENDAR
* Major Canadian economic data includes PMI
* Major U.S. events and data includes employment index