Jan 29 (Reuters) - Canada’s main stock index on Wednesday pointed to a lower open with investors cautiously awaiting the possibility of a further taper of the U.S. central bank’s bond-buying program.
* Turkey’s central bank hiked all its key interest rates in dramatic fashion at an emergency midnight policy meeting, ignoring opposition from Prime Minister Tayyip Erdogan as it battles to defend the crumbling lira currency.
* Boeing Co posted a 26 percent increase in quarterly profit, helped by a rise in commercial aircraft deliveries.
* Canadian Pacific Railway reported a five-fold jump in fourth-quarter profit, as freight revenue rose 7 percent.
* Yahoo Inc’s online ad prices slid again in the fourth quarter and Alibaba, the Chinese e-commerce giant in which it owns a big stake, saw revenue growth decelerate from its recent rip-roaring pace. [ID:nL2N0L11WN}
* Biogen Idec Inc said fourth-quarter profit soared 57 percent, helped by strong sales of its new multiple sclerosis drug, Tecfidera.MARKET SNAPSHOT
* Canada stock futures traded down 0.13 percent
* U.S. stock futures , , were down around 0.23 to 0.25 percent
* European shares, were down COMMODITY PRICE MOVES
* Thomson Reuters-Jefferies CRB Index : 283.0407; rose 0.09 percent
* Gold futures : $1251; was unchanged 0 percent
* US crude : $97.3; fell 0.11 percent
* Brent crude : $107.69; rose 0.26 percent
* LME 3-month copper : $7155.25; rose 0.21 percent ANALYSTS’ RECOMMENDATIONS
Following is a summary of research actions on Canadian companies reported by Reuters.
* Bell Aliant Inc : Canaccord Genuity cuts target price to C$26 from C$27 on reduced EBITDA forecasts due to pricing pressures
* First Quantum Minerals Ltd : Nomura cuts target price to C$19 from C$20, attributable to the company’s Cobre Panama project review coming in worse than expected with higher capex and a two-year delay
* Metro Inc : CIBC raises price target to C$70 from C$69, says the company’s first-quarter results were better than expected, sees it increasing prices to drive sales ON THE CALENDAR
* No major Canadian economic events scheduled in the day
* Major U.S. events and data includes FOMC