July 6, 2012 / 12:18 PM / 7 years ago

CANADA STOCKS-TSX may may open higher, jobs eyed

July 6 (Reuters) - Toronto’s main stock index looked set to open slightly higher after Thursday’s share price fall, while focus remains on U.S. and Canadian jobs figures that are expected to show tepid growth.


* U.S. employers likely quickened the pace of hiring last month but not enough to allay worries that Europe’s debt crisis is shifting the economy into low gear.

* Italy’s cabinet approved spending cuts worth 4.5 billion euros ($5.57 billion) this year, heading off an impending sales tax increase

* The head of the International Monetary Fund expressed concern about a deterioration in the global economy, saying the outlook has become more worrying as developed and big emerging nations show signs of slowing down.

* Soaring sales of the Galaxy smartphone drove record quarterly profit of $5.9 billion at Samsung Electronics, although the South Korean tech giant is sweating over how Europe’s debt crisis is denting demand in its biggest market for televisions and home appliances.

* Canadian oil and gas producer Pengrowth Energy Corp cut its monthly dividend by 43 percent to 4 Canadian cents on weak oil and gas prices, its first cut since November 2009.


* Canada stock futures traded up 0.06 percent

* U.S. stock futures , , were down in the range of -0.05 to -0.015 percent

* European shares, were down


* Thomson Reuters-Jeffries CRB Index : 290.93; fell 0.79 percent

* Gold Futures : $1645; fell -0.87 percent

* US Crude : $85.49; fell 1.98 percent

* Brent Crude : $99.17; fell 1.52 percent

* LME 3-month Copper : $7628; fell 0.87 percent


* Sandvine Corp. : The network equipment maker posted a wider-than-expected quarterly loss as revenue fell 24 percent.

* Research In Motion Ltd. : Investors in the BlackBerry maker should not re-elect one-time lead director John Richardson to the board of the struggling company at Tuesday’s annual meeting, proxy advisory firm Glass Lewis said. The advice repeats a long-standing Glass Lewis concern that Richardson failed to properly oversee the provision of stock options to RIM employees, which were erroneously back-dated over an eight-year period.

* Air Canada and WestJet Airlines Ltd. : Air Canada and WestJet flew fuller planes in June, while smaller regional carrier Porter Airlines reported slightly emptier flights than a year earlier.


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

* Copper Mountain : Canaccord Genuity cuts target price to C$6.25 from C$6.80 to reflect the brokerage’s cut in its copper price forecast for 2012

* Genivar Inc : Canaccord Genuity cuts price target to C$22 from C$24 after the company bought the UK based design and engineering firm WSP Group

* Richelieu Hardware : NBF raises target price to C$36.50 from C$35 after the company posted solid quarterly results

* Tuscany International : NBF cuts target price to C$1.25 from C$1.35 and removes from Action List on Latin America E&P Cash Flow Review

* Westjet Airlines : CIBC raises target price to C$20.75 from C$18.50, and Canaccord Genuity to C$25 from C$24; says company is still on track to achieve its growth targets


* Major Canadian economic data includes Ivey PMI index

* Major U.S. events and data includes ECRI weekly index

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