March 27, 2013 / 12:22 PM / 6 years ago

CANADA STOCKS-TSX may open lower dragged by eurozone worries

March 27 (Reuters) - Canada's main stock index looked set to
open lower as Cyprus's bailout woes, weak eurozone economic data
and soft demand at an Italian debt auction weighed on sentiment.

   * Cyprus is finalising capital control measures to prevent a
run on the banks after the country agreed a painful rescue
package with international lenders. 
   * Confidence in the euro zone's economy worsened in March,
falling after four straight months of gains, the European
Commission said. 
   * Air Canada said a preliminary estimate of its
pension solvency deficit has dropped to C$3.7 billion from C$4.2
billion a year ago, reflecting a better-than-expected 14 percent
return on plan assets. 
   * As Boeing works to regain permission for its 787 Dreamliner
to resume flights, the company faces what could be a costly new
challenge: a temporary ban on some of the long-distance,
trans-ocean journeys that the jet was intended to fly.
   * Agrium Inc won another ringing endorsement just
ahead of a crucial shareholder vote after influential advisory
firm Glass Lewis on Tuesday advised its clients to back all 12
of Agrium's board nominees over a slate nominated by dissident
investor Jana Partners.MARKET SNAPSHOT 
   * Canada stock futures traded down around 0.44
percent and 0.55 percent
   * U.S. stock futures , , were down
around 0.48 percent 
   * European shares, were down 
   * Thomson Reuters-Jefferies CRB Index : 296.6224;
fell 0.21 percent
   * Gold futures : $1,595.5; fell 0.01 percent 
   * US crude : $95.85; fell 0.51 percent 
   * Brent crude : $109.47; rose 0.1 percent 
   * LME 3-month copper : $7,591.25; fell 0.44 percent

   * Huntingdon Capital Corp : The company said it
increased its offer for all of KEYreit's units to
match Plazacorp Retail Properties' C$119 million bid for
the company. 

   Following is a summary of research actions on Canadian
companies reported by Reuters. 
   * Gold Canyon Resources Inc : CIBC cuts target price
to C$2.15 from C$2.55 as the company's pre-production capital
costs estimate of $438 million is significantly below analysts'
initial estimate of $1.1 billion
   * Partners REIT : RBC cuts target price to C$8.50
from C$9 as the company reported a decline in its fourth-quarter
net operating income 
   * SouthGobi Resources Ltd : Salman Partners cuts
target to C$2.20 from C$2.80 as heightened political uncertainty
for foreign mining companies in Mongolia continues to cloud the
near-term outlook of the company
   * Turquoise Hill Resources Ltd : CIBC cuts target to
C$11 from C$13.50 to reflect an increased project debt facility,
says political uncertainty in Mongolia remains the key overhang
for the company's shares

   * Major Canadian economic data includes inflation figures
   * Major U.S. events and data includes pending home sales
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