September 13, 2012 / 12:32 PM / 6 years ago

CANADA STOCKS-TSX to edge lower at open, focus on Fed decision

Sept 13 (Reuters) - Canada’s resource heavy main stock index looked set to open lower on Thursday, with investors focusing on the outcome of the U.S. Federal Reserve meeting that might help revive the world’s largest economy.


* The U.S. Federal Reserve appears set to launch a third round of unconventional monetary stimulus while signaling that a weak U.S. economy may warrant ultra-low interest rates for at least another three years.

* Economic growth in the euro zone economy is expected to remain weak and “heightened uncertainty” is weighing on confidence, the European Central Bank said on Thursday in its monthly bulletin, adding that inflation expectations remained firmly anchored.

* Apple Inc’s new iPhone goes on sale on Friday with a bigger screen and 4G wireless technology, as the company seeks to safeguard its edge over rivals like Samsung Electronics Co Ltd and Google Inc.

* Empire Co Ltd, parent of Canada’s Sobeys grocery chain, reported a 22 percent rise in first-quarter profit on higher sales.

* Canadian travel operator Transat AT Inc posted a third-quarter profit as costs fell.


* Canada stock futures traded down 0.10 percent

* U.S. stock futures , , were down around 0.2 percent

* European shares, were down


* Thomson Reuters-Jefferies CRB Index : 315.98; rose 0.09 percent

* Gold futures : $1,731.5; rose 0.05 percent

* U.S. crude : $97.25; rose 0.25 percent

* Brent crude : $116.4; rose 0.38 percent

* LME 3-month copper : $8064.25; fell 0.39 percent


* Nordion Inc. : The medical isotope provider said it was reorganizing its business into two distinct units, specialty isotopes and targeted therapies, and appointed to its board Jeff Brown, CEO of investment firm Brown Equity Partners Llc.

* MacDonald, Dettwiler and Associates Ltd. : The surveillance and satellite imaging company said it has received a request for additional information from the U.S. Department of Justice in connection with its proposed deal to buy Space Systems/Loral Inc, a unit of Loral Space & Communications Inc.

* Royal Nickel Corp. : The exploration company said on Wednesday it has received non-binding proposals from several parties keen to partner with it on developing the Dumont nickel project in Quebec.


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

* Alimentation Couche Tard Inc. : CIBC cuts to sector performer from sector outperformer, cuts target price to C$52 from C$53; says economic situation in Europe adds uncertainty to company’s recent acquisition of Norwegian Statoil Fuel and Retail ASA

* Bombardier Inc. : SocGen cuts price target to C$3.5 from C$3.9 on lower working capital inflow

* Western Potash Corp. : Salman Partners cuts to sell from hold, cuts target price to C$0.55 from C$1.15 on challenges in finding a strategic partner of its Milestone Potash Project in Saskatchewan and expectations of a dilutive equity financing

* Dollarama Inc. : Canaccord raises price target to C$70 from C$68 on the dollar store operator’s strong second-quarter results

* Pretium Resources Inc. : CIBC cuts to sector underperformer from sector performer, cuts target price to C$15.50 from C$18.50; on the company’s updated resource estimates for its Brucejack Project in British Columbia


* Major Canadian economic data includes new housing pricing index and capacity utilization

* Major U.S. events and data includes FOMC rate decision, initial claims, producer prices

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