December 10, 2013 / 1:48 PM / 7 years ago

CANADA STOCKS-TSX may open lower, euro zone liquidity in focus

Dec 10 (Reuters) - Canadian stock index futures pointed to a lower open on Tuesday as markets focused on tight money market conditions in the euro zone’s banking system where liquidity levels are now at the tightest in two years.


* European Union finance ministers are likely to take a political step towards creating a banking union with powers to close down failing banks, but leave nagging legal details to another time, perhaps next week.

* AutoZone Inc, the largest U.S. auto parts retailer, reported a 7 percent rise in quarterly profit due to higher repairs.

* The U.S. government sold its last shares of automaker General Motors Co on Monday, marking an end to a historic bailout of one of America’s most storied companies.


* Canada stock futures traded down 0.09 percent

* U.S. stock futures , , were mixed

* European shares, were down


* Thomson Reuters-Jefferies CRB Index : 281.0281; rose 0.57 percent

* Gold futures : $1,256.8; rose 1.74 percent

* US crude : $98.41; rose 1.1 percent

* Brent crude : $109.53; rose 0.13 percent

* LME 3-month copper : $7,179; rose 0.62 percent


* Canadian Oil Sands Ltd : The company which has the largest stake in Syncrude Canada Ltd oil sands project in northern Alberta, said on Monday it expects spending to drop by 17 percent in 2014 as it completes major projects at its mine site.

* Thomson Reuters Corp : The news and information company is replacing the senior executives overseeing three of its main businesses - legal, growth markets and intellectual property - as part of a wider reorganization aimed at boosting growth and trimming costs.


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

* Avigilon Corp : National Bank Financial raises price target to C$40 from C$30, expect the company to print strong revenue growth based on new product launches, additional sales coverage and geographic expansion

* Canadian Oil Sands Ltd : Raymond James cuts target price to C$20 from C$21 after the company’s operating costs projection was higher than expected

* Manitoba Telecom Services Inc : RBC raises to outperform from sector perform and target price to C$31 from C$30 following the company’s equity issue

* North West Co Inc : RBC raises target price to C$28 from C$25 citing a favorable competitive environment, attractive returns on capital and above-average yield

* Progressive Waste Solutions Ltd : National Bank Financial raises price target to $30 from $29, says recovering U.S. market should bring growth and operational efficiency is improving


* No major Canadian and U.S. economic data scheduled for the day

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