June 21 (Reuters) - - Canada’s main stock index looked set to open higher on Friday after Thursday’s global sell-off on the U.S. Federal Reserve’s plan to tamper its monetary stimulus. Canadian inflation came in slightly weaker than expected.
* China’s central bank faced down cash-hungry banks, letting interest rates again spike to extraordinary levels as it increases the pressure on the banks to rein in rampant informal lending and speculative trading.
* St. Louis Federal Reserve Bank President James Bullard worried that the Fed’s decision to announce a plan to reduce bond buying was poorly timed, the regional Fed bank said in a statement on Friday explaining his dissent.
* Oracle Corp missed expectations for software sales and subscriptions for the second straight quarter and investors worried CEO Larry Ellison may have trouble getting the technology giant back on track.
* Wi-Lan Inc said on Thursday it has renewed a broad long-term license deal with Samsung Electronics Co, allowing the South Korean technology company to use Wi-Lan’s patents in its mobile devices.
* Canada’s annual inflation rate rose to 0.7 percent in May from 0.4 percent in April, primarily due to higher shelter costs, including the biggest jump in natural gas prices since December 2008, Statistics Canada said.MARKET SNAPSHOT
* Canada stock futures traded up 0.54 percent
* U.S. stock futures , , were up around 0.38 percent to 0.49 percent
* European shares, were up COMMODITY PRICE MOVES
* Thomson Reuters-Jefferies CRB Index : 280.8748; rose 0.28 percent
* Gold futures : $1,295.2; rose 0.72 percent
* US crude : $95.27; rose 0.14 percent
* Brent crude : $102.46; rose 0.3 percent
* LME 3-month copper : $6,805.9; rose 0.79 percent ANALYSTS’ RECOMMENDATIONS
Following is a summary of research actions on Canadian companies reported by Reuters.
* Alimentation Couche-Tard : RBC raises target price to C$65 from C$55 to reflect multiple expansion in the space and balance sheet improvements
* Mosaic Capital Corp : Raymond James starts with outperform, says the company has created a capital structure that is accretive to shareholders on a per share basis ON THE CALENDAR
* Major Canadian economic data includes CPI and retail sales
* Major U.S. events and data includes ECRI weekly index