3 Min Read
Dec 13 (Reuters) - Canada's main stock index looked set to open higher on Friday, though gains could be pared as investors speculated about the possibility of an earlier-than-expected wind-down of U.S. Federal Reserve monetary stimulus.
* Three years after going cap in hand to international lenders, Ireland has officially ended its bailout, providing a landmark for euro zone efforts to resolve its debt crisis, its finance minister.
* Adobe Systems Inc, the maker of Photoshop and Acrobat software, forecast current-quarter results below analysts' estimates but reported a 22 percent jump in the number of subscribers to its Creative Cloud suite from the preceding quarter.
* Shares in French carmaker PSA Peugeot Citroen fell a further 11.6 percent, making for a 23 percent fall in just four days, after U.S. alliance partner General Motors sold its stake ahead of a possible new share issue by the struggling French carmaker.
* RSA Insurance CEO Simon Lee resigned after the insurer issued a third profit warning and flagged a possible hit to its dividend from a capital hole at its Irish business.MARKET SNAPSHOT
* Canada stock futures traded up 0.07 percent
* U.S. stock futures , , were up around 0.04 percent to 0.41 percent
* European shares, were up COMMODITY PRICE MOVES
* Thomson Reuters-Jefferies CRB Index : 280.0576; fell 0.24 percent
* Gold futures : $1,229.5; rose 0.29 percent
* US crude : $96.97; fell 0.54 percent
* Brent crude : $108.35; fell 0.29 percent
* LME 3-month copper : $7,222; fell 0.06 percent CANADIAN STOCKS TO WATCH
* Air Canada : An Air Canada Jazz turboprop plane bound for Vancouver was forced to make an emergency landing in the Pacific Coast province of British Columbia on Thursday after a fire broke out in one of its engines. ANALYSTS' RECOMMENDATIONS
Following is a summary of research actions on Canadian companies reported by Reuters.
* Biox Corp : National Bank Financial cuts price target to 50 Canadian cents from 75 Canadian cents following the company's fourth-quarter results that were below aggressive estimates
* BRP Inc : CIBC raises price target to C$33 from C$31 following the company's strong third-quarter results
* Empire Company Ltd : National Bank Financial cuts price target to C$82 from C$83 on the company's reduced EPS projections for FY2014 and FY2015
* New Gold Inc : BMO cuts price target to C$7 from $8.50 as the company's net present value at spot prices declined following a fall in metal prices
* RMP Energy Inc : CIBC raises price target to C$7.25 from C$7, believes that the company offers a very attractive valuation relative to its potential production growth ON THE CALENDAR
* No major Canadian economic data scheduled
* Major U.S. events and data includes producer price index