June 11 Canadian stocks looked set to open lower
on Wednesday as investors avoided placing fresh bets in the
absence of any broad market catalyst.
June futures on the S&P TSX index <0#SXF:> were down 0.16
percent at 0715 ET.
The TSX index climbed slightly to hit its highest in nearly
six years on Tuesday, buoyed by a jump in gold-mining shares
after the price of bullion gained.
There is no release of economic data scheduled for
Dow Jones Industrial Average e-mini futures were
down 0.35 percent at 0715 ET, while S&P 500 e-mini futures
were down 0.44 percent. Nasdaq 100 e-mini futures
were down 0.39 percent.
(Morning News Call newsletter link.reuters.com/nex49s;
The Day Ahead newsletter link.reuters.com/mex49s)
The battle for Allergan Inc heated up on Tuesday as
the company officially rejected a sweetened $53 billion takeover
offer from Valeant Pharmaceuticals International and
activist investor William Ackman.
Bombardier Inc said on Tuesday that it had resumed
ground engine testing of its all-new CSeries jetliner after an
engine failure last week.
Canada is "disappointed" that TransCanada Corp's
Keystone XL pipeline to the United States has not yet received
approval from the White House, Canadian Finance Minister Joe
Oliver said on Tuesday. Separately, TransCanada
said it expected to file an application for its C$12 billion
Energy East pipeline with energy regulators in mid-August.
COMMODITIES AT 0715 ET
Gold futures : $1,262.2; +0.19 pct
US crude : $104.59; +0.23 pct
Brent crude : $110.04; +0.47 pct
LME 3-month copper : $6,671.25; -0.06 pct
ANALYST RESEARCH HIGHLIGHTS
Brookfield Renewable Energy Partners : National
Bank Financial resumes coverage with sector perform
DHX Media Ltd : National Bank Financial raises price
target to C$7.25 from C$6.50
Empire Co Ltd : National Bank Financial cuts price
target to C$73 from C$75
U.S. ECONOMIC DATA DUE ON WEDNESDAY
1400 Federal budget for May: Expected -$131.0 bln, prior
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report
Canadian dollar and bonds report
Reuters global stocks poll for Canada
Canadian markets directory
($1= $1.09 Canadian)
(Reporting by Mononshila Deka in Bangalore; Editing by Kirti