Feb 22 Toronto's main stock index looked set to
open higher on Friday, breaking a losing streak and mirroring
its U.S. and European counter parts, as better-than-expected
German business sentiment cheered investors.
* Canadian consumer prices are expected to have risen in
January after two months of declines, but the annual inflation
rate will ease to a three-year low of 0.7 percent, likely
keeping the central bank on the sidelines throughout 2013.
* German business morale surged at its fastest pace in over
two years in February, pushing higher for a fourth consecutive
month and pointing to a solid recovery in Europe's largest
economy after a dismal end to 2012.
* Banks will repay the European Central Bank 61.1 billion
euros in the second of two 3-year loans they took a year ago,
handing back less than expected in a sign much of the euro zone
financial system is still reliant on ECB funds.
* Eldorado reported on Friday a boost in fourth
quarter profit, as increased gold sales outweighed higher
* Agrium Inc reported a record profit for the
fourth quarter on Thursday, handily beating expectations due to
higher demand for crop protection products and fertilizer from
farmers, ahead of a proxy battle with its largest shareholder.
* Canada stock futures traded up 0.1 percent
* U.S. stock futures , , were up
around 0.45 percent
* European shares, were up
COMMODITY PRICE MOVES
* Thomson Reuters-Jefferies CRB Index : 294.5309;
rose 0.31 percent
* Gold futures : $1,578.4; rose 0.01 percent
* US crude : $93.17; rose 0.36 percent
* Brent crude : $114.52; rose 0.87 percent
* LME 3-month copper : $7,857; fell 0.05 percent
CANADIAN STOCKS TO WATCH
* Osisko Mining Corp : The gold miner's
fourth-quarter adjusted net earnings rose 68 percent as gold
production jumped by a quarter as production costs fell.
* Inmet Mining Corp : The base metal miner reported
a 17 percent drop in quarterly profit on Thursday as foreign
exchange losses and other costs offset stronger operating
* Western Energy Services Corp : The Canadian
contract driller said it would buy IROC Energy Services Corp
for about C$157 million in cash and stock, gaining an
entry into the oilfield equipment rental business.
* Toronto-Dominion Bank : The bank cut the pay of its
CEO by 4.4 percent in 2012 due to costs related to litigation
reserves taken by the bank and other performance factors, TD
said on Thursday.
Following is a summary of research actions on Canadian
companies reported by Reuters.
* Alamos Gold Inc : BMO raises to outperform from
market perform citing the company's low cash cost profile and
free cash flow generating ability.
* Osisko Mining Corp : Canaccord Genuity raises to
buy from hold based on the company's relative valuation and
implied return due to recent share price weakness.
* Hudbay Minerals Inc : Canaccord Genuity cuts
target price to C$10 from C$12 after the company reported
lower-than-expected fourth-quarter results.
* Stantec Inc <STN.TO: Canaccord Genuity raises target price
to C$44.50 from C$41.50, says the company has a consistent
strategy, no lack of opportunities to drive revenue and earnings
growth and a long track record of very consistent execution.
* Bellatrix Exploration Ltd : Canaccord Genuity
raises target price to C$9 from C$8 to reflect the company's
increased reserves, significant valuation discount and
production growth profile.
ON THE CALENDAR
* Major Canadian economic data includes consumer price
* No major U.S. events and data scheduled for release