Aug 27 (Reuters) - Stock futures pointed to a flat opening for Canada’s main stock index on Wednesday with September futures on the S&P TSX index <0#SXF:> marginally lower at 0715 ET.
No major Canadian economic data is due for release on Wednesday.
Canada’s main stock index rose on Tuesday as shares of Tim Hortons Inc climbed after the coffee chain said it planned to merge with Burger King Worldwide Inc in a C$12.64 billion deal.
Dow Jones Industrial Average e-mini futures were up 0.10 percent at 0715 ET, while S&P 500 e-mini futures were up 0.05 percent and Nasdaq 100 e-mini futures were up 0.06 percent. (Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)
Spanish energy company Repsol SA’s talks to buy Canadian producer Talisman Energy Inc are in difficulty, three sources familiar with the matter said, with Talisman’s North Sea assets the stumbling block.
Allergan Inc said that it has scheduled a special shareholders meeting for Dec. 18, when activist investor Bill Ackman, who supports a hostile bid for the company by Valeant Pharmaceuticals Inc, will attempt to oust most of its board.
Barrick Gold Corp is eliminating its entire corporate development team and more cuts are in the works as the world’s top gold miner looks to trim costs, three sources familiar with the situation said on Tuesday.
Miner Taseko Mines Ltd is suing the government of Canada for damages, escalating its court actions after Ottawa’s rejection earlier this year of the company’s proposal to build a copper and gold mine in British Columbia.
COMMODITIES AT 0715 ET
Gold futures : $1,283.80; was flat
US crude : $94.1; +0.26 percent
Brent crude : $102.69; rose 0.19 percent
LME 3-month copper : $7,044; -0.14 percent
ANALYST RESEARCH HIGHLIGHTS
Acadian Timber Corp : CIBC starts with “sector performer” rating and price target of C$15
Orezone Gold Corp : National Bank Financial starts with “outperform” rating
Tim Hortons Inc : CIBC cuts rating to “sector performer” from “sector outperformer”
U.S. ECONOMIC DATA DUE ON WEDNESDAY
No major economic data is due for release
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$1= $1.10 Canadian Reporting by Samarendra Sahoo in Bangalore; Editing by Savio D’Souza
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