July 31 Canada's main stock index looked set to
open higher on Wednesday as investors cautiously awaited a
statement later in the day from the U.S Federal Reserve policy
meeting, which could yield clues on how soon it will curb its
monetary stimulus program.
* Honda Motor Co announced a lower than expected 5.1 percent
rise in quarterly operating profit after sales in Japan dropped
following the end of subsidies and as it lagged behind rivals in
selling profitable SUVs and pickups in the U.S.
* Europe's EADS confirmed plans to reorganize in three
divisions and change its name to Airbus, adopting the look and
feel of its arch-rival Boeing in a bid to become more
* Talisman Energy Inc, the Canadian oil and gas
company that is selling assets and refocusing its operations to
deal with low natural gas prices, said its second-quarter profit
fell 51 percent.
* Torstar Corp, owner of Canada's largest daily
newspaper by circulation, reported a fifth straight fall in
quarterly profit as print advertising revenue declined.
* Canadian Oil Sands Ltd, which owns the largest
stake in the Syncrude Canada Ltd oil sands project in northern
Alberta, said on Tuesday its quarterly profit more than doubled
on higher oil production and strengthened prices, though it
lowered its annual production estimate because of maintenance
* Canada stock futures traded up 0.26 percent
* U.S. stock futures , , were down
around 0.07 percent and 0.14 percent
* European shares, were down
COMMODITY PRICE MOVES
* Thomson Reuters-Jefferies CRB Index : 282.4902;
rose 0.1 percent
* Gold futures : $1,320.3; fell 0.28 percent
* US crude : $103.52; rose 0.43 percent
* Brent crude : $106.33; fell 0.54 percent
* LME 3-month copper : $6,794; rose 0.88 percent
CANADIAN STOCKS TO WATCH
* Keyera Corp : The company and Kinder Morgan Energy
Partners LP announced on Tuesday a $98 million joint venture to
build a crude oil rail-loading terminal in Edmonton, Alberta,
one of the main storage hubs for Canada's oil sands.
* Manulife Financial Corp : CTBC Financial Holding
Co Ltd, the parent of Taiwan's top credit card issuer, will
acquire the local insurance unit of the company for less than
T$1 billion, said a source with direct knowledge of the deal.
Following is a summary of research actions on Canadian
companies reported by Reuters.
* Allana Potash Corp : Raymond James cuts to market
perform from outperform and target to C$0.65 from C$1.25 on
* Progressive Waste Solutions : National Bank
Financial raises target price to $27 from $25.50 after the
company reported strong second-quarter results.
* Thomson Reuters Corp : National Bank Financial
raises target price to C$33 from C$30, citing
better-than-expected second-quarter earnings.
* Trinidad Drilling Ltd : Raymond James raises
target price to C$10.75 from C$9.75 after the company inked a
five-year take-or-pay contract for an ultra-high-specification
8,000-meter drilling rig.
* Westjet Airlines Ltd : Raymond James cuts target
price to C$22 from C$24, says outlook remains uncertain.
ON THE CALENDAR
* Major Canadian economic data includes gross domestic
* Major U.S. events and data includes gross domestic product