Jan 29 Canada's main stock index looked set to
open lower on Tuesday, tracking Wall Street, as investors looked
to the outcome from the U.S. Federal Reserve two-day meeting to
gauge the health of the world's largest economy.
* The U.S. Federal Reserve is paying close attention to
risks linked to its bond buying program, including the
possibility of losses on its massive portfolio that might touch
off a political fire storm and harm the central bank's
* Canadian Pacific Railway reported a 93 percent
fall in fourth-quarter profit, but said it expects 2013 adjusted
earnings per share to rise more than 40 percent.
* Anglo American Plc will take a $4 billion writedown on its
Minas Rio iron ore operation in Brazil after delays and cost
overruns forced the mining group to increase expenditure on the
* Japan's government approved a $1.02 trillion draft budget
for the next fiscal year that aims to nudge tax revenues above
new bond sales for the first time in four years, but still
relies on borrowing to cover 46.3 percent of its spending.
* Pfizer reported better-than-expected fourth-quarter
results, helped by rebounding sales in emerging markets, but the
drugmaker forecast earnings for 2013 that were mostly below
consensus analyst expectations.
* Royal Bank of Scotland Group is close to a 500 million
pounds settlement with U.S. and British authorities over claims
that some of its employees submitted false Libor rates, the WSJ
reported, citing people briefed on the negotiations.
* Canada stock futures traded down 0.24 percent
* U.S. stock futures , , were down
around 0.22 percent to 0.35 percent
* European shares, were mixed
COMMODITY PRICE MOVES
* Thomson Reuters-Jefferies CRB Index : 300.727;
rose 0.02 percent
* Gold futures : $1,654.9; were unchanged
* US crude : $96.45; rose 0.01 percent
* Brent crude : $113.32; fell 0.14 percent
* LME 3-month copper : $8,045.75; fell 0.14 percent
Following is a summary of research actions on Canadian
companies reported by Reuters.
* Agrium Inc. : Susquehanna raises target price of
Agrium's U.S. listed shares to $135 from $130 after the company
raised its fourth-quarter earnings estimate above its previous
* Progressive Waste Solutions : National Bank
Financial cuts to sector perform from outperform and says the
REIT model would not be favorable for the company and would
limit its ability to grow through acquisition.
* Raging River Exploration Inc. : National Bank
Financial raises target price to C$5.25 from C$4.75, after the
company reported year-end 2012 reserves, showing solid growth of
80 percent, exceeding expectations.
* Sierra Wireless Inc. : Jefferies raises target
price of Sierra's U.S.-listed shares to $10 from $8 after the
company said it will sell assets of AirCard business to NetGear
for approximately $100 million.
* TMX Group Ltd : National Bank Financial raises
target price to C$58 from C$54, says robust equity financing
activity and relatively strong mutual fund flows in Canada
suggest a rebound in trading activity.
ON THE CALENDAR
* No major Canadian economic data scheduled for release
* Major U.S. events and data include consumer confidence