October 11, 2013 / 12:23 PM / in 4 years

CANADA STOCKS-TSX may open little changed, eye on U.S. debt talks

Oct 11 (Reuters) - Canada’s main stock index looked set to open little changed on Friday as talks continued in Washington to end a fiscal stalemate that has shut down the U.S. government for days.

Potash Corp of Saskatchewan Inc was expected to be active after the world’s biggest fertilizer producer estimated quarterly profit would be below analysts’ expectations as its customers delayed purchases due to near-term market uncertainty. [ID: nL1N0I02MC]

TOP STORIES

* JPMorgan Chase & Co reported a loss in the third quarter as the biggest U.S. bank by assets recorded additional expenses for lawsuits and government investigations.

* President Barack Obama and Republican leaders appeared ready to end a political crisis that has shuttered much of the U.S. government and pushed the country dangerously close to default after meeting at the White House on Thursday.

* Shares in Britain’s Royal Mail rocketed to a near 40 percent premium above their issue price in stock market debut, fuelling a debate about whether they had been priced too low in order to guarantee a successful privatization.

* India’s second-largest software services exporter, posted quarterly profit that missed analyst estimates on a charge related to visa use in the United States, but raised the lower end of its fiscal full-year revenue guidance.

MARKET SNAPSHOT

* Canada stock futures traded up 0.07 percent

* U.S. stock futures , , were up around 0.07 percent to 0.16 percent

* European shares, were up

COMMODITY PRICE MOVES

* Thomson Reuters-Jefferies CRB Index : 287.1551; fell 0.27 percent

* Gold futures : $1,288.4; fell 0.63 percent

* US crude : $101.78; fell 1.19 percent

* Brent crude : $111.61; fell 0.17 percent

* LME 3-month copper : $7,158; rose 0.18 percent

CANADIAN STOCKS TO WATCH

* Agrium Inc : Activist hedge fund Jana Partners LLC trimmed its holding in Agrium and said it was pleased with the fertilizer company’s recent capital return and change in CEO.

* TransCanada Corp : The U.S. government shutdown is making it harder for the State Department to review the company’s Keystone XL pipeline permit process, a State Department official said on Thursday, which could delay President Barack Obama’s decision on the project. [ID: nL1N0I02FC]

ANALYSTS’ RECOMMENDATIONS

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

* Canadian Pacific Railway Ltd : Canaccord Genuity cuts target price to C$131 from C$138 on reduced mid-term growth expectations

* CanElson Drilling Inc : National Bank Financial resumes coverage with outperform; target price C$8, says the company is queued up for substantial fleet growth

* Conifex Timber Inc : National Bank Financial starts coverage with outperform; target C$10.50, says proceeds from debt financing will support growth

* Contrans Group Inc : BMO cuts to rating market perform from outperform, says the trucking industry conditions in Canada remain challenging

* DragonWave Inc : Canaccord Genuity cuts target price of its U.S. listed shares to $1.75 from$2.10 after its second-quarter results missed estimates

ON THE CALENDAR

* Major Canadian economic data includes employment change, unemployment rate and participation rate

* Major U.S. events and data includes Reuters/UMich consumer sentiment

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