July 5, 2012 / 12:38 PM / 7 years ago

CANADA STOCKS-TSX may open higher as central banks ease policy

July 5 (Reuters) - Toronto’s main stock index looked set to open higher after the People’s Bank of China, Bank of England and the European Central Bank all moved to shore up their economies by cutting interest rates or providing more stimulus.


* The European Central Bank cut its main interest rate to a record low of 0.75 percent and its deposit rate to zero on Thursday to help tackle the euro zone crisis that threatens to push the bloc’s deteriorating economy back into recession.

* China’s central bank cut interest rates for the second time in two months in the latest attempt to bolster slowing growth in the world’s second-largest economy.

* The Bank of England launched a third round of monetary stimulus on Thursday, announcing it would restart its printing presses and buy 50 billion pounds of asset purchases with newly created money to help the economy out of recession.

* Spain sold 3 billion euros of medium- and long-term debt, at the top end of its target, though doubt over the details of an European accord forced the Treasury to pay the highest rate for its 10-year bond since November.


* Canada stock futures traded up 0.35 percent

* U.S. stock futures , , were up around 0.1 to 0.3 percent

* European shares, were up


* Thomson Reuters-Jefferies CRB Index : 293.16; rose 0.18 percent

* Gold Futures : $1,612.7; fell 0.53 percent

* US Crude : $88.2; rose 0.62 percent

* Brent Crude : $101.25; rose 1.48 percent

* LME 3-month Copper : $,7733; rose 0.1 percent


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

* Calfrac Well Services : NBF cuts target price to C$27 from C$28.50 on pricing declines in the United States and as Canadian activity slowed in the second-quarter

* Copper Mountain Mining : PI Financial starts with buy rating an dC$6 price target, says the company has a strong partner, strong asset and the right metal

* Semafo : SocGen starts with buy rating and target price of C$7.10, says encouraging exploration results over the last two years offer the potential for significant expansion at the group’s flagship Mana mine in Burkina Faso

* SXC Health : Credit Suisse raises price target of its U.S. listed shares to $111 from $109 as its merger deal with Catalyst Health Solution closed earlier than the company’s guidance and the deal would be accretive to 2013 earnings

* Trican Well Service : NBF cuts target to C$12 from C$13.50, says U.S. pressure pumping business is expected to materially improve after six to nine months


* No major Canadian economic data scheduled for release

* Major U.S. events and data includes initial jobless claims and service sector activity

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