4 Min Read
Oct 8 (Reuters) - Hopes that Republicans and Democrats will reach a deal on the U.S. budget as well as the debt ceiling pushed Canadian stock index futures slightly higher on Tuesday, though gains could be limited as markets remain wary of the risk of failure
* A few faint glimmers of hope surfaced on Monday in the U.S. fiscal standoff, both in Congress and at the White House, with President Barack Obama saying he would accept a short-term increase in the nation's borrowing authority to avoid a default.
* Business confidence in China's services sector slipped in September and growth slowed, a private survey showed, another signal the world's No.2 economy is finding it difficult to regain solid momentum after a protracted slowdown.
* Telecom equipment maker Alcatel-Lucent unveiled plans to cut an overall 10,000 jobs worldwide by the end of 2015, hoping to save 1 billion euros and turn the company around after years of losses.
* Talisman Energy Inc shares surged in after-hours trading on Monday after activist investor Carl Icahn said he had purchased about 61 million shares of the underperforming Canadian oil producer and may seek a seat on the company's board.
* Canada stock futures traded up 0.1 percent
* U.S. stock futures , , were mixed around -0.05 percent to 0.05 percent
* European shares, were down
* Thomson Reuters-Jefferies CRB Index : 288.8836; rose 0.34 percent
* Gold futures : $1,322.5; fell 0.17 percent
* US crude : $103.54; rose 0.5 percent
* Brent crude : $110.26; rose 0.53 percent
* LME 3-month copper : $7,269.5; rose 0.34 percent
* Manitoba Telecom Services Inc : The Canadian government said on Monday it blocked a bid from a company controlled by Egyptian telecom tycoon Naguib Sawiris to buy a fiber optic network, citing national security concerns. [ID: nL1N0HX22E]
* Saputo Inc : The dairy producer swooped on Warrnambool Cheese and Butter Factory Company Holdings Ltd, potentially kickstarting a wave of foreign purchases in Australia's A$4 billion a year dairy industry.
Following is a summary of research actions on Canadian companies reported by Reuters.
* Exchange Income Corp : National Bank Financial cuts price target to C$24 from C$28 after the company announced that it expects third-quarter EBITDA to come in at about half of last year's third-quarter results due to weaker than anticipated margins.
* HudBay Minerals Inc : Raymond James raises price target to C$9 from C$8.25 on improved confidence in the company's ability to meet its development targets at Constancia and reduced concerns over additional funding needs.
* Intact Financial Corp : National Bank Financial raises price target to C$72 from C$71 on expectations of strong book value growth and the company's substantial excess capital position.
* Methanex Corp : Jefferies raises price target to $65 from $54 to reflect better pricing.
* Major Canadian economic data includes housing starts and trade balance
* Major U.S. events and data includes Redbook and IBD consumer confidence