August 16, 2011 / 12:13 PM / 7 years ago

CANADA STOCKS-TSX may open lower on global growth fears

Aug 16 (Reuters) - Toronto’s main stock index looked set to open lower on Tuesday after an unexpectedly low reading on Germany’s growth data fueled investor fears that the global economy is slowing more than expected.


* Canadian equity futures <0#SXF:> pointed to a lower open.

* U.S. stock index futures fell sharply after the German growth figures

* European shares fell; after Germany posted much weaker growth than expected and investors lost confidence that a meeting to discuss the euro zone sovereign debt crisis would bring significant change. [.EU]

* Asian stocks fell while the Nikkei edged up after Google’s plans to buy phone maker Motorola Mobility triggered buying of some technology stocks. ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ To receive an early e-mail of Reuters Morning News Call - Canada — a preview of market moving news — Thomson Reuters subscribers can register at [CA/MNC] ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^


* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, fell 0.66 percent in early trade.

* Brent crude futures fell, after rising nearly $2 a day earlier, as worries about global economic growth and a stronger dollar tempered appetite for risky assets. [O/R]

* Gold prices rose as concerns over the financial health of the euro zone resurfaced ahead of a summit in Paris between French and German leaders. [GOL/]

* Copper slipped, reversing the previous session’s gains, as the dollar rose and attention returned to the uncertain outlook for the global economy. [MET/L]


* Canaccord Financial Inc. (CF.TO): The investment bank and brokerage firm said it has held preliminary takeover talks with British Investment bank Evolution. [ID:nL3E7JG1M5]

* Capstone Mining (CS.TO): The copper producer posted a second-quarter adjusted profit that met market expectations, and it forecast total capital costs of $1.24 billion for its Santo Domingo iron oxide, copper and gold mine in Chile. [ID:nL3E7JF3B7]

* Yukon Nevada Gold Corp YNG.TO: The company said its quarterly profit rose five-fold due to higher production and a gain on warrants, and it expects to achieve production run rate of 150,000 ounces by end of 2011. [ID:nL3E7JG1U4]


Following is a summary of research actions on Canadian companies reported by Reuters. [RCH/CA]

* 20 20 Technologies Inc TWT.TO coverage started with sector perform rating; price target of C$3.75 at National Bank

* ACE Aviation Holdings Inc ACEa.TO price target raised to C$15 from C$14.50 at TD Newcrest

* Canadian Apartment Properties REIT (CAR_u.TO) price target raised to C$21 from C$20 at CIBC

* Capstone Infrastructure Corp CSE.TO price target cut to C$7.50 from C$8 at TD Newcrest

* Chartwell Seniors Housing REIT (CSH_u.TO) price target cut to C$8.75 from C$9.25; rating sector perform at RBC

* C&C Energia Ltd CZE.TO price target cut to C$15.50 from C$18.25 at CIBC

* Dundee REIT (D_u.TO) price target raised to C$38 from C$37; rating buy at TD Newcrest

* IBI Group Inc (IBG.TO) price target raised to C$17 from C$16.50; rating buy at TD Newcrest

* Second Wave Petroleum Inc SCS.TO price target raised to C$4.20 from C$3.25; rating sector perform at National Bank

* Whistler Blackcomb WB.TO price target cut to C$11 from C$12.25 at CIBC ($1= $0.99 Canadian) (Reporting by Shrutee Sarkar)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below