3 Min Read
Feb 7 (Reuters) - Canada's main stock index was set for a lower open on Tuesday, as worries about Greece's ability to secure a bailout in time to avoid a messy default weighed on sentiment.
* Canadian equity futures <0#SXF:> pointed to a lower open.
* U.S. stock index futures fell, indicating equities may fall for a second straight session, as talks to secure a new bailout for Greece and avoid an unruly default had yet to bear fruit.
* European shares fell, after disappointing earnings reports from UBS and Alfa Laval and as Greece remained in danger of failing to secure a new bailout.
* At least two top 10 shareholders in miner Xstrata said they would vote against a takeover by commodities trader Glencore, threatening the creation of a powerhouse spanning mining, agriculture and trading. ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ To receive an early e-mail of Reuters Morning News Call - Canada -- a preview of market moving news -- Thomson Reuters subscribers can register at ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
* The Thomson Reuters-Jefferies CRB index, a global commodities benchmark, fell 0.45 percent in early trade.
* U.S. light crude oil futures fell more than $1 per barrel as domestic supplies and U.S. oil inventories rose and the country's oil demand showed little sign of improving despite a recovery in its economic growth.
* Gold prices eased towards $1,710 an ounce in line with a softening euro as traders awaited a breakthrough on talks over a second bailout deal for Greece, with its leaders fighting to avoid a chaotic debt default.
* Copper eased on concerns over sluggish demand from top consumer China and renewed worries about the eurozone debt crisis as Greek leaders delayed decisions on reforms that would help the country to avoid a disorderly default.
* Centerra Gold : Around 1,400 workers at the company's flagship mine in Kyrgyzstan went on strike, a trade union leader said, halting production that contributes nearly 12 percent of GDP in the Central Asian republic.
* Bank of Montreal : The bank will gain ground against foreign rivals to capture 10 percent of Canada's exchange traded fund market in 2012 as domestic rivals try to decide whether it is too late to enter the burgeoning ETF space, the bank's head of asset management said in an interview.
Following is a summary of research actions on Canadian companies reported by Reuters.
* Antrim Energy Inc : RBC cuts to sector perform from outperform
* Canadian Pacific Railway Ltd : CIBC raises price target to C$82 from C$77
$1= $0.99 Canadian Reporting by Kishan Nair; Editing by Jeffrey Hodgson