July 19 Canada's main stock index looked set to
open higher on Friday, supported by higher commodity markets and
the U.S. Federal Reserve's assurances about its plans for
* The Group of 20 nations backed a tax plan that takes aim
at the loopholes used by multinational firms and responds to
anger among voters hit with higher tax bills to cover soaring
* Google Inc on Thursday reported second-quarter results
short of Wall Street's estimates as weakening prices for the
Internet company's ads and widening losses from its Motorola
mobile phone business weighed on the bottom line.
* Microsoft Corp on Thursday reported lower-than-expected
quarterly earnings as slow personal computer sales ate into its
Windows business and the company took an unexpected $900 million
charge for its inventory of unsold Surface tablets.
* Baker Hughes Inc, the world's third-largest oilfield
services provider, reported a lower-than-expected second-quarter
profit due mainly to weak margins in North America.
* Schlumberger Ltd, the world's largest oilfield services
company, posted a better-than-expected profit for the seventh
quarter as drilling activity outside North America touched a
* Canada stock futures traded up 0.08 percent
* U.S. stock futures , , were mixed
around 0.01 percent to -0.07 percent
* European shares, were down
COMMODITY PRICE MOVES
* Thomson Reuters-Jefferies CRB Index : 291.8887;
rose 0.28 percent
* Gold futures : $1,290; rose 0.42 percent
* US crude : $108.57; rose 0.49 percent
* Brent crude : $108.98; rose 0.26 percent
* LME 3-month copper : $6,948.25; rose 0.63 percent
CANADIAN STOCKS TO WATCH
* TransCanada Corp : The company expects to announce
potential interest in using its proposed Energy East crude oil
pipeline project in the next couple of weeks, CEO Russ Girling
said on Thursday. The pipeline would funnel crude oil from
western receipt points to delivery points in the Montréal and
Québec City, Quebec, and Saint John, New Brunswick, areas.
Following is a summary of research actions on Canadian
companies reported by Reuters.
* BlackBerry : BMO raises to market perform from
underperform, believes enterprises may start to increase
deployments of BB10 now that an updated version of BES 10 is
* Eldorado Gold Corp : Raymond James cuts price
target to $11 from $14, says the company's investment case
remains appealing to investors in today's marketplace given its
low cost and well capitalized position.
* Shoppers Drug Mart Corp : BMO raises price target
to C$62 from C$61.50 after the company reported second-quarter
results above market consensus.
* Whitecap Resources Inc : Raymond James raises
price target to C$13 from C$12.50 following the company's
acquisition of the Valhalla/Garrington assets.
ON THE CALENDAR
* Major Canadian economic data includes CPI
* Major U.S. events and data includes ECRI weekly index