Nov 5 (Reuters) - Canada’s main stock index futures pointed to a lower open on Tuesday, tracking the U.S. market, as investors turned wary ahead of a European Central Bank meeting where most layers expect the central bank to signal an easing of monetary policy.
* Vivendi has agreed terms to sell its 53 percent stake in Maroc Telecom to the UAE’s Etisalat for 4.2 billion euros, the latest step in the French conglomerate’s drive to become more media focused.
* Natural gas procucer Encana Corp will cut about 20 percent of its workforce, slash its dividend and invest nearly three-quarters of its 2014 capital spending budget in more lucrative oil and liquid gas assets.
* BlackBerry Ltd abandoned its plan to sell itself and said its CEO is stepping down, raising fears the struggling smartphone maker is running out of options.
* U.S. fertilizer company Mosaic Co reported sharply lower quarterly earnings as prices of potash and phosphate fell and buyers were cautious.
* Canada stock futures traded down 0.14 percent
* U.S. stock futures , , were down around 0.26 and 0.35 percent
* European shares, were down
* Thomson Reuters-Jefferies CRB Index : 274.1064; fell 0.06 percent
* Gold futures : $1,313.3; fell 0.1 percent
* US crude : $94.41; fell 0.22 percent
* Brent crude : $106.29; rose 0.06 percent
* LME 3-month copper : $7,154.85; rose 0.08 percent
* WestJet Airlines Ltd, Canada’s second-largest carrier, reported a better-than-expected quarterly profit as expenses fell.
* Specialty pharmaceutical company Endo Health Solutions Inc said it would acquire Canadian peer Paladin Labs Inc for about $1.6 billion to expand its presence in Canada and emerging markets.
* Canadian business software maker Open Text Corp said it would buy privately-held cloud computing company GXS Group Inc for $1.17 billion.
Following is a summary of research actions on Canadian companies reported by Reuters.
* BlackBerry Ltd : CIBC cuts to sector underperformer from sector outperformer-speculative, cuts target price to $5 from $12, says the time for the company’s turnaround will be long, with success uncertain
* Bombardier Inc : JP Morgan cuts to underweight from neutral based on a lower outlook for earnings after a tough third quarter
* Golden Star Resources Ltd : CIBC raises price target to $0.40 from $0.35 after the company’s positive third-quarter results
* Sears Canada Inc : CIBC starts with sector outperformer rating; price target of C$21, says the company one of Canada’s largest merchants and is selling off its immense and valuable portfolio of below-market leases, owned locations and joint ventures
* Surge Energy Inc : Raymond James raises price target to C$7.50 from C$7.25 citing the company’s better-than-expected third-quarter earnings, says it is set up well to exceed guidance into 2014
* No major economic data scheduled for release
* Major U.S. events and data includes non-manufacturing index and IBD consumer confidence