April 26, 2012 / 12:42 PM / 7 years ago

CANADA STOCKS-TSX may open lower after soft U.S., euro zone data

April 26 (Reuters) - Toronto’s main stock index looked set to open lower on Thursday, as lingering worries over the economic outlook for the euro zone and soft U.S. data weighed on investors’ sentiment.


* New U.S. claims for unemployment benefits fell slightly last week but a trend reading rose to its highest since January, the latest sign of a weaker pace of healing in the still-struggling labor market.

* Euro zone economic sentiment fell more than expected in April, driven by more pessimistic industry and services sectors, European Commission data showed, as the economy sinks into recession.

* Potash Corp of Saskatchewan Inc, the world’s largest fertilizer maker, reported a 33 percent profit drop on Thursday due to lower sales and production volumes, which in turn led to higher costs.

* Precision Drilling Corp posted its seventh consecutive quarterly profit on higher dayrates and activity in United States, but the No. 1 oil and gas driller in Canada cut its 2012 budget partly on delays in certain projects.

* Husky Energy Inc on Wednesday posted a 6 percent decline in first-quarter profit as a result of lower natural gas prices and tighter refining margins.


* Canada stock futures traded down 0.13 percent

* U.S. stock futures , , were flat

* European shares, were flat


* Thomson Reuters-Jeffries CRB Index : 302.65; rose 0.19 percent

* Gold Futures : $1644.4; unchanged

* US Crude : $104.21; rose 0.09 percent

* Brent Crude : $119.48; rose 0.3 percent

* LME 3-month Copper : $8274.25; rose 0.84 percent


* Canadian paper maker Domtar Corp’s profit fell 54 percent, hurt by weak pulp prices and high costs.

* Mullen Group Ltd. : The trucking and logistics company posted a nearly 20 percent jump in first-quarter profit, helped in part by improved performance of its oilfield services unit.

* Goldcorp Inc : The miner reported a slim increase in its operating profit on Wednesday, as its most prolific mine was hit by operational problems that reduced output and offset most of the gains from a surge in bullion prices.

* Exco Technologies Ltd. : The auto parts maker’s quarterly profit rose 33 percent on higher demand from American and Asian customers.

* Lundin Mining Corp. : The miner’s quarterly profit fell 18 percent on lower metal prices and higher operating costs.

* MEG Energy Corp. : The oil sands developer reported an 18 percent rise in first-quarter profit on lower costs and higher price realizations.


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

* Bell Aliant : CIBC cuts price target to C$27 from C$28, rating sector performer

* Cenovus Energy : CIBC cuts target to C$44 from C$45, rating sector outperformer

* CGI Group : Canaccord Genuity raises price target to C$23 from C$22, rating hold

* New Flyer Industries : Canaccord Genuity raises target to C$7.25 from C$6.25


* Major U.S. events and data include jobless claims data and Pending Home Sale

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