July 22 Canada's main stock index looked set to
open higher on Monday, buoyed by rising commodities as U.S. oil
prices extended gains against Brent and gold jumped to a
one-month high, breaking above $1300 an ounce.
* Japanese Prime Minister Shinzo Abe, fresh from a strong
election victory, vowed to stay focused on reviving the stagnant
economy and sought to counter suspicions he might instead shift
emphasis to his nationalist agenda.
* Beijing's move to scrap the floor on lending rates is not
yet a game-changer for Chinese banks, but it may have just
started the countdown to an eventual industry overhaul which
will deprive the banks of virtually risk-free profits.
* Halliburton reported a decline in quarterly profit but
said it had more headway outside its home U.S. market, which has
been turned upside down by a natural gas glut.
* UBS said its second-quarter profit beat forecasts, even
after an 835 million Swiss franc charge to settle a U.S. lawsuit
and other matters, and that its flagship private bank was
continuing to win new customers.
* Canada stock futures traded up 0.16 percent
* U.S. stock futures , , were mixed
around -0.20 percent to 0.16 percent
* European shares, were mixed
COMMODITY PRICE MOVES
* Thomson Reuters-Jefferies CRB Index : 292.1493;
rose 0.23 percent
* Gold futures : $1,322; rose 2.23 percent
* US crude : $108.44; rose 0.36 percent
* Brent crude : $108.3; rose 0.21 percent
* LME 3-month copper : $6,994; rose 1.14 percent
CANADIAN STOCKS TO WATCH
* First Quantum Minerals : Zambia has allowed the
company to restart construction of its Sentinel copper project
that had been halted this year on environmental concerns,
according to a document obtained by Reuters.
* Intact Financial Corp : The property and casualty
insurer said a train crash in Lac-Mégantic, Quebec, and hail
storms in July will cost it C$134 million in its third-quarter
Following is a summary of research actions on Canadian
companies reported by Reuters.
* ARC Resources Ltd : Canaccord Genuity cuts rating
to hold from buy, expect second-quarter production to slightly
decline quarter over quarter given downtime associated with
spring break-up and planned maintenance activities.
* Peyto Exploration & Development Corp : Canaccord
Genuity cuts rating to hold from buy, believes second-quarter
results will be fairly uneventful given the limited operational
newsflow expected by August 13, and does not envision any
changes to Peyto's current 2013 production or capital spending
guidance within its second-quarter earnings release.
ON THE CALENDAR
* No major Canadian economic data scheduled for the day
* Major U.S. events and data includes existing home sales
and Chicago Fed index