Feb 26 Canadian stock index futures pointed to a
slightly higher open on Tuesday, helped by higher-than-expected
results and a dividend increase from Bank of Montreal,
with investors also looking ahead to testimony from U.S. Federal
Reserve Chairman Ben Bernanke.
* Bank of Montreal on Tuesday reported its quarterly profit
eased as lower loan recoveries at its U.S. retail bank offset
higher wholesale banking and wealth management profits.
* The Italian stock market fell and state borrowing costs
rose on Tuesday as investors took fright at political deadlock
after a stunning election that saw a comedian's protest party
lead the poll and no group secure a clear majority in
* Federal Reserve Chairman Ben Bernanke faces the first of
two days of congressional testimony that will subject the Fed's
controversial bond-buying program to tough scrutiny and gauge
his confidence in the resilience of the U.S. economy.
* Nexen Inc : The contentious $15.1 billion takeover
of Canadian oil and gas company Nexen Inc by Chinese state-owned
entity CNOOC Ltd closed on Monday, more than seven months after
China's largest-ever foreign takeover was announced.
* Improvements in the U.S. housing market and sales tied to
Hurricane Sandy helped Home Depot Inc report a
higher-than-expected quarterly profit and outshine rival Lowe's
Cos Inc for the 15th straight quarter.
* Canada stock futures traded up 0.03 percent
* U.S. stock futures , , were up
around 0.3 percent
* European shares, were down
COMMODITY PRICE MOVES
* Thomson Reuters-Jefferies CRB Index : 293.2917;
fell 0.34 percent
* Gold futures : $1,589; rose 0.18 percent
* US crude : $92.46; fell 0.7 percent
* Brent crude : $113.34; fell 0.96 percent
* LME 3-month copper : $7,809; fell 0.34 percent
CANADIAN STOCKS TO WATCH
* First Majestic Silver Corp : The company, which
backed out of a bidding war for Orko Silver Corp last
week, said fourth-quarter profit rose 5 percent on higher
Following is a summary of research actions on Canadian
companies reported by Reuters.
* Aurora Oil & Gas Ltd : CIBC raises to sector
outperformer from sector performer on valuation based on strong
growth and internal cash flow.
* Bankers Petroleum Ltd : RBC raises to outperform
from sector perform, says the company looks set to grow with
higher production and healthy realizations.
* North American Palladium Ltd : CIBC cuts price
target to C$1.90 from C$2.
* Paramount Resources Ltd : CIBC raises to sector
outperformer from sector performer on valuation.
ON THE CALENDAR
* No major Canadian economic data scheduled for release
* Major U.S. events and data includes consumer confidence,
new home sales and Richmond Fed manufacturing