Oct 12 (Reuters) - Toronto’s main stock index looked set to open higher on Friday, taking cues from its largest trading partner, after robust earnings from JPMorgan marked a strong start for the U.S. banks earnings season.
* JPMorgan Chase & Co said third-quarter earnings jumped 34 percent as it made more home loans.
* Canadian Prime Minister Stephen Harper said that Canada wants a growing relationship with China, but that investments must be scrutinized from a national security perspective.
* The world could see a gradual easing of oil prices over the next five years due to sluggish economic growth and rising energy efficiency and as production increases steeply in Iraq and North America, the West’s energy watchdog said.
* Oil major BP Plc has secured U.S. government permission to ship U.S. crude oil to Canada, and Royal Dutch Shell has applied for an export license, as rising production in the world’s top oil consumer upends global energy flows.
* Germany held firm in insisting it was too soon to say Greece deserved more time to meet its budget-cutting goals even as the head of the IMF laid out the case for leniency.
* Output at euro zone factories grew much more than expected in August, helped by summer demand for food and French car production, but industry’s apparent resilience is unlikely to be enough to avoid a recession in the indebted region this year.
* Canada stock futures traded up 0.09 percent
* U.S. stock futures , , were up around 0.13 percent to 0.31 percent
* European shares, were down
* Thomson Reuters-Jefferies CRB Index : 309.09; fell 0.06 percent
* Gold futures : $1,768.3; fell 0.03 percent
* US crude : $92.3; rose 0.25 percent
* Brent crude : $115.18; fell 0.46 percent
* LME 3-month copper : $8,175; fell 0.78 percent
* Canadian Pacific Railway : The company said that its CFO Kathryn McQuade, will retire on Nov. 1, after the fourth senior executive to leave Canada’s second-largest railroad after a bruising proxy battle earlier this year.
Following is a summary of research actions on Canadian companies reported by Reuters.
* Canacol Energy Ltd. : CIBC cuts to sector underperformer from sector performer on concerns about production declines at Rancho Hermoso, assumptions made for the Capella heavy oil field and the uncertain commerciality of the Caguan Basin
* Churchill Corp. : Canaccord Genuity raises to buy from hold, raises price target to C$9.50 from C$8 on higher visibility, sustainable dividend and healthy backlog
* Encana Corp. : National Bank Financial starts with sector perform and price target C$23, says transition to liquids rich gas and light oil underway, but gas still remains the driving force
* Petrobakken Energy Ltd. : Barclays cuts target to C$14 from C$15 on disappointing third-quarter volumes
* Volta Resources Inc. : National Bank Financial cuts target to C$2.25 from C$4 on reduced expectations for the higher grade starter zone at Kiaka South
* No major Canadian economic data scheduled for release
* Major U.S. events and data include producers price index and Reuters/University of Michigan sentiment