Feb 7 Canada's main stock index looked set to
open flat to lower on Thursday, as investors await comments from
European Central Bank President Mario Draghi on the region's
* Mario Draghi faces a grilling over the European Central
Bank's sensitivity to a sharp rise in the euro and his
connection to an Italian banking scandal after a policy meeting
at which policymakers left interest rates unchanged.
* The Bank of England made no change to its amount of
stimulus for the economy at a policy meeting though it voted to
reinvest 6.6 billion pounds of its current bond holdings due to
mature in March.
* Air Canada reported a fourth-quarter operating
profit, helped by tighter cost controls, and said it would
launch premium economy services on international flights as it
tries to attract more business travelers.
* BCE Inc reported higher profits, helped by
earnings growth in its wireless and media divisions as well as
an investment gain, and the company also boosted its dividend.
* Teck Resources reported a sharp drop in
fourth-quarter earnings as higher copper sales failed to offset
the impact of sagging coal prices.
* Manulife Financial Corp rebounded to a
fourth-quarter profit from a year-before loss on the back of tax
and investment gains, as well as stronger sales of insurance and
wealth products, it said.
* Canada stock futures traded down 0.03 percent
* U.S. stock futures , , were up around
0.05 percent to 0.12 percent
* European shares, were mixed
COMMODITY PRICE MOVES
* Thomson Reuters-Jefferies CRB Index : 303.8406;
rose 0.15 percent
* Gold futures : $1,674.8; fell 0.17 percent
* US crude : $96.79; rose 0.18 percent
* Brent crude : $117.43; rose 0.6 percent
* LME 3-month copper : $8,242; fell 0.04 percent
CANADIAN STOCKS TO WATCH
* Canaccord Financial : The investment dealer and
wealth management firm reported a stronger third-quarter profit
as record advisory fees drove a 56 percent jump in revenue, and
the company's CEO pledged to continue to expand its presence in
* Gildan Activewear Inc : The clothing maker raised
its full-year earnings forecast after posting a profit for its
first quarter, driven by sales in its printwear business.
* Shoppers Drug Mart Corp reported a flat
fourth-quarter profit, despite a rise in pharmacy sales.
* Sierra Wireless Inc : The wireless communication
equipment maker said higher operating costs will result in a
first-quarter loss, even after posting a profit that beat
analysts' estimates in the latest three months.
* Silver Wheaton Corp : The company, which just
signed its first major gold-stream deal, would consider
increasing its percentage of revenue from bullion to as much as
30 percent even as it retains its focus on silver, CEO Randy
Smallwood said on Wednesday.
* SouthGobi Resources Ltd The coal miner said
Mongolia's anti-corruption authority has imposed restrictions on
the company's Mongolian unit, including its local bank accounts,
as it investigates asset sales.
* Toronto-Dominion Bank : Brian Murdock, the CEO of
the bank's Asset Management unit, has resigned to return to the
U.S. from Canada.
Following is a summary of research actions on Canadian
companies reported by Reuters.
* Genworth MI Canada Inc : Canaccord Genuity raises
target price to C$26.50 from C$25.50 citing the company's strong
fourth-quarter results, its potential share buyback and its
* Gildan Activewear Inc : CIBC raises price target to
$42 from $40, says the company is well-positioned for continued
* Husky Energy Inc : CIBC ups target price to C$34
from C$31 citing the company's increased production guidance,
driven by its Liwan and Sunrise projects
* SNC Lavalin Group Inc : CIBC raises to sector
outperformer from sector performer, raises price target to C$54
from C$45, on increasing valuations due to infrastructure
* Westjet Airlines Ltd : BMO cuts to market perform
from outperform, to reflect the view that incremental growth in
capacity going forward increases the earnings risk profile
ON THE CALENDAR
* Major Canadian economic data includes new housing PI and
* Major U.S. events and data includes initial claims,
continuing claims, and labour productivity.