Feb 4 Canada's main stock index looked set to
open lower on Monday, dragged down by a drop in commodity
prices, after political uncertainty in Spain and Italy dampened
* Spain's opposition Socialist Party called for the
resignation of Prime Minister Mariano Rajoy over a corruption
scandal on Sunday as a poll showed the lowest support on record
for his centre-right People's Party.
* In Italy former prime minister Silvio Berlusconi, one of
the top candidates in this month's general election, is seeing a
resurgence in popularity which threatens the reforms implemented
by the outgoing technocrat government.
* Euro zone factory prices fell for the second month in a
row in December, mirroring the trend in consumer inflation and
leaving room for a possible European Central Bank interest rate
cut to revive the weak economy.
* The number of people out of work in Spain rose by 2.7
percent in January from a month earlier, meaning 4.98 million
people are unemployed in the euro zone's fourth-biggest economy,
data from the Labour Ministry showed.
* Commerzbank, Germany's No. 2 bank, posted a
larger-than-expected quarterly loss after a cut in its
medium-term profit forecasts had a damaging effect on its tax
* Canada stock futures traded down 0.34 percent
* U.S. stock futures , , were down
around 0.25 percent
* European shares, were down
COMMODITY PRICE MOVES
* Thomson Reuters-Jefferies CRB Index : 304.3896;
fell 0.38 percent
* Gold futures : $1,664; fell 0.32 percent
* US crude : $96.8; fell 0.99 percent
* Brent crude : $115.97; fell 0.68 percent
* LME 3-month copper : $8,285.75; fell 0.05 percent
Following is a summary of research actions on Canadian
companies reported by Reuters.
* Precious Metals: Barclays cuts price target of the
U.S.-listed shares of Barrick Gold Corp to $45 from
$48, of Goldcorp Inc to $49 from $53 and Newmont Mining
Corp to $60 from $65, says higher gold prices will
negatively affect reserve and resource grades that have been
steadily declining and expects production and capex to be flat.
* Cogeco Cable Corp : RBC raises to outperform from
sector perform and raises price target to C$47 from C$42 to
reflect the company's acquisition of Peer 1 Networks Enterprises
Inc and its revised 2013 outlook.
* Twin Butte Energy Ltd : CIBC cuts price target to
C$3 from C$3.15 after the company cut its 2013 capital
expenditure and production outlook due to operational and
reservoir issues at its Primate project and a cautious view on
ON THE CALENDAR
* No major Canadian economic data scheduled for release
* Major U.S. events and data includes ISM New York index and
factory orders data