April 18, 2012 / 12:27 PM / 6 years ago

CANADA STOCKS- Euro zone tensions may weigh on TSX at open

April 18 (Reuters) - Toronto’s main stock index looked set to open lower, taking cues from euro zone counterparts, as worries about the region’s debt crisis offset positive U.S. corporate results.

TOP STORIES

* Fears of a resurgence in the euro zone debt crisis boosted demand for safe-haven German bonds on Wednesday, while the Bank of England and a European Central Bank official signaled more monetary policy easing measures were unlikely.

* SXC Health Solutions Corp said it will buy pharmacy benefit manager Catalyst Health Solutions Inc for about $4.4 billion in cash and stock, to expand its presence in the business of paying and processing prescription drug claims.

* Canadian grocer Metro Inc reported a 12 percent rise in quarterly profit, helped by higher sales.

* Canada’s Alimentation Couche-Tard Inc is to buy Norwegian company Statoil Fuel and Retail ASA (SFR) for an agreed 15.9 billion crowns to gain a foothold in Europe’s top-performing economies.

* Nestle, the world’s biggest food group, is closing in on a deal to buy Pfizer’s infant nutrition business for up to $10 billion to boost its business in China and extend its lead in the world of formula milk for babies, sources familiar with the matter said on Wednesday.

MARKET SNAPSHOT

* Canada stock futures traded down 0.17 percent

* U.S. stock futures , , were down around 0.30 percent

* European shares, were down

COMMODITY PRICE MOVES

* Thomson Reuters-Jeffries CRB Index : 301.66; down 0.13 percent

* Gold Futures : $1642.4; fell -0.53 percent

* US Crude : $104.16; fell -0.04 percent

* Brent Crude : $117.9; fell -0.74 percent

* LME 3-month Copper : $8030; rose 0.2 percent

CANADIAN STOCKS TO WATCH

* Yukon-Nevada Corp. : The gold miner said it has initiated a strategic review of its operations, which may include a sale of the company.

* Brookfield Office Properties : The company said on Tuesday it had nailed the largest office lease for a single building in New York City since 2008, signing a deal with Morgan Stanley for 1.15 million square feet at One New York Plaza.

* Toronto-Dominion Bank : The bank’s CEO Ed Clark said on Tuesday he expects to retire “in the next few years”, but not over the next 12 months.

* TransCanada < TRP.TO>: The White House on Tuesday renewed its threat to veto legislation to fund U.S. transportation projects responsible for millions of jobs if it includes the politically charged Canada-to-Texas Keystone XL oil pipeline.

ANALYST RECOMMENDATIONS

Following is a summary of research actions on Canadian companies reported by Reuters.

* Athabasca Oil Sands : Canaccord Genuity cuts price target to C$18 from C$19

* Baytex Energy Corp. : Canaccord Genuity cuts price target to C$64 from C$68

* Cineplex Inc. : CIBC cuts to sector performer from sector outperfomer on valuation

* MEG Energy Corp. : Canaccord Genuity cuts price target to C$56 from C$59

* NorthWest Healthcare Properties : CIBC raises target to C$12.75 from C$12.50

* Power Corp. : Barclays raises price target to C$27 from C$25; rating equal weight

* Power Financial : Barclays raises target to C$30 from C$28; rating equal weight

* Southern Pacific Resource : Canaccord cuts price target to C$2.15 from C$2.25

* WestFire Energy Ltd : Stifel raises to buy from hold

ON THE CALENDAR

* No Major Canadian economic data

* No Major U.S. events and data

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