Feb 1 Canada's main stock index looked set to
open higher on Friday, helped by better-than-expected euro zone
manufacturing data and news that U.S. job growth grew modestly
in January and that gains in the previous two months were bigger
than initially reported.
* China's vast factory sector managed only a shallow rebound
at the start of 2013 and manufacturing in the euro zone remained
weak, although there the worst may be over, a clutch of surveys
* Canadian Oil Sands posted a 4.7 percent drop in
fourth-quarter profit on Thursday, despite higher production, as
oil prices fell.
* Merck & Co's quarterly results beat forecasts, helped by
strong sales of its Januvia diabetes drug and Gardasil vaccine
against cervical cancer, but the company issued a full-year 2013
profit view at the low end of Wall Street expectations.
* Banks will pay back another 3.5 billion euros next week of
the emergency 3-year loans they took from the European Central
Bank a year ago, further deflating the ECB's balance sheet after
they paid back a whopping 137 billion euros this week.
* The Obama administration's decision on the Keystone XL oil
pipeline will not be made until at least June, a U.S. official
said, which would delay the project for months and frustrate
backers of Canada's oil sands.
* Canada stock futures traded up 0.34 percent
* U.S. stock futures , , were up
around 0.24 percent to 0.46 percent
* European shares, were up
COMMODITY PRICE MOVES
* Thomson Reuters-Jefferies CRB Index : 304.7197;
rose 0.08 percent
* Gold futures : $1,665.5; rose 0.3 percent
* US crude : $97.25; fell 0.25 percent
* Brent crude : $116.1; rose 0.48 percent
* LME 3-month copper : $8,191.5; rose 0.32 percent
CANADIAN STOCKS TO WATCH
* Barrick Gold Corp The gold miner has started a
process to sell its oil and gas unit, Barrick Energy, as it
seeks to offload non-core assets, a company spokesman said on
* Sears Canada : The company, which is struggling
with shrinking sales and the looming arrival of Target Corp on
the Canadian retail scene, said on Thursday it was laying off
700 workers as part of a plan to "right-size" the operation.
Following is a summary of research actions on Canadian
companies reported by Reuters.
* Methanex Corp : CIBC raises target price to $33
from $32, says operating issues in Southeast Asia and the Middle
East have once again tightened the methanol market.
* Banro Corp : CIBC cuts target price to C$4 from
C$4.75 citing lower grades at its Lugushwa project and higher
modeled costs at its Kamituga project.
* Atlantic Power Corp : CIBC cuts target price to
C$12 from C$12.50 on valuation after the company said it has
entered into a sale agreement for its entire Florida-based
* Exco Technologies Ltd : Canaccord Genuity raises
target price to C$6.75 from C$6.50 on its earnings momentum and
strong full year outlook.
* Twin Butte Energy Ltd : National Bank Financial
cuts price target to C$3.25 from C$3.50, citing the company's
trimmed capital spending outlook for 2013 and operational
ON THE CALENDAR
* Major Canadian economic data includes RBC manufacturing
* Major U.S. events and data includes non-farm payrolls
data, Markit manufacturing PMI, Reuters/UMich data, ISM,
construction spending and domestic car and truck sales