Jan 30 Canadian stock index futures pointed to a
lower open on Wednesday after U.S. data showed the world's
largest economy unexpectedly contracted in fourth quarter.
* The U.S. economy unexpectedly contracted in the fourth
quarter, suffering its first decline since the 2007-09 recession
as businesses scaled back on restocking and government spending
* The innovative line of BlackBerry smartphones that
Research In Motion Ltd will formally unveil on
Wednesday has already succeeded on one crucial count - getting
RIM back in the conversation.
* The Federal Reserve is expected to keep monetary policy on
a steady path when it concludes a two-day meeting, though behind
the scenes intensive debate continues over when the
controversial bond-buying program should be curtailed.
* Boeing Co reported profit dipped in the fourth quarter
from a year earlier, and said its 2013 forecast "assumes no
significant financial impact" from the grounding of its 787
Dreamliner passenger jet by regulators.
* Spain's economy sank deeper into recession in the fourth
quarter of 2012, shrinking at the fastest pace in a year as
budget cutbacks and high unemployment prompted households to
* Euro zone economic sentiment improved more than expected
across all sectors in January, rising for the third time in a
row in a sign the economy could be emerging from a low point in
the fourth quarter of 2012.
* Chesapeake Energy Corp said on Tuesday that Aubrey
McClendon will step down as chief executive after a tumultuous
year in which a series of Reuters investigations triggered civil
and criminal probes of the second-largest U.S. natural gas
* Canada stock futures traded down 0.2 percent
* U.S. stock futures , , were mixed
around -0.09 percent and 0.07 percent
* European shares, were down
COMMODITY PRICE MOVES
* Thomson Reuters-Jefferies CRB Index : 303.5726;
rose 0.42 percent
* Gold futures : $1,664.1; rose 0.2 percent
* US crude : $97.9; rose 0.33 percent
* Brent crude : $114.95; rose 0.52 percent
* LME 3-month copper : $8,221.5; rose 1.46 percent
CANADIAN STOCKS TO WATCH
* CCL Industries Inc. : The label and
specialty packages maker said it would buy two businesses of
U.S. label and office supplies maker Avery Dennison Corp for
Following is a summary of research actions on Canadian
companies reported by Reuters.
* Canadian Pacific Railway Ltd. : Sterne Agee raises
target price to $110 from $100 and Barclays raises target price
to C$126 from C$120 citing the company's solid 2013 guidance,
better operating revenue and cost improvements.
* Iamgold Corp. : RBC cuts target price to $11 from
$18, citing the company's limited near-term growth prospects,
cost inflation and lack of free cash flow.
* SilverCrest Mines Inc. : Canaccord Genuity raises
target price to C$4.50 from C$4.25 to reflect the company's
updated resource estimate from the La Joya project in Durango,
ON THE CALENDAR
* No major Canadian economic data scheduled for release
* Major U.S. events and data includes GDP, ADP national
employment, final sales, implicit deflator and personal