Jan 22 Canada's main stock index looked set to
open lower on Tuesday, as investors remain wary about upcoming
earnings from key U.S. and Canadian companies and progress over
the debt deal by U.S. lawmakers.
* Inmet asked its shareholders to reject First
Quantum Minerals Ltd's C$5.1 billion hostile offer, terming the
* The Bank of Japan announced its most determined effort yet
to end years of economic stagnation, saying it would switch to
an open-ended commitment to buying assets next year and double
its inflation target to 2 percent.
* German analyst and investor sentiment rose sharply for a
second consecutive month in January in a sign that the euro zone
crisis is no longer hitting Europe's largest economy as hard as
in late 2012.
* Verizon posted a $1.93 billion quarterly loss on pension
liabilities and superstorm Sandy-related charges that took the
shine off a jump wireless business revenue.
* Germany, France and nine other euro zone countries will
get the go-ahead to push on with a financial transactions tax, a
measure likely to unsettle banks but which will please voters
and raise much-needed revenue.
* Canada stock futures traded down 0.25 percent
* U.S. stock futures , , were mixed in
the range of -0.06 percent and 0.18 percent
* European shares, were up
COMMODITY PRICE MOVES
* Thomson Reuters-Jefferies CRB Index : 301.6689;
* Gold futures : $1691.9; rose 0.31 percent
* US crude : $95.5; fell 0.06 percent
* Brent crude : $112.15; rose 0.39 percent
* LME 3-month copper : $8099.5; rose 0.55 percent
Following is a summary of research actions on Canadian
companies reported by Reuters.
* Canadian Natural Resources Ltd. : CIBC cuts price
target to C$34 from C$35 on valuation changes due to the
changing macro sentiment.
* CI Financial : National Bank Financial raises to
outperform from sector perform, says the company remains
positioned to deliver strong AUM growth given superior fund
performance and its strong distribution platform.
* MGM Energy Corp. : Canaccord Genuity cuts to hold
from speculative buy citing the company's recent share price
* Rona Inc. : National Bank Financial raises target
price to C$12 from C$11 after the company announced changes to
its board of directors including the appointment of Robert
Chevrier as the the executive chairman.
* Shaw Communications : CIBC raises target price to
C$26 from C$23 on the company's improved cable valuations, a
recent accretive deal with Rogers Communications Inc,
and renewed focus on value recovery.
ON THE CALENDAR
* Major Canadian economic data includes retail sales
* Major U.S. events and data includes Chicago Fed Index,
existing home sales, Richmond fed manufacturing, manufacturing
shipments and services revenue