November 23, 2012 / 1:27 PM / 6 years ago

CANADA STOCKS-TSX may open lower, Greek bailout eyed

Nov 23, (Reuters) - Canada’s stock index futures pointed to a flat open on Friday, as investors stay cautious over the possibility of a Greek financial aid program that might be revealed on Monday.


* International lenders have agreed new steps to cut Greece’s debt pile further but it still has to fill a 10 billion euro gap to gain the IMF’s approval for its next tranche of aid, a senior Greek government official said.

* BP is planning to announce a reorganization of its oil and gas production operations, three sources familiar with the matter said, the second significant restructuring of its main cash generator since the Gulf of Mexico oil spill.

* German business sentiment surprised with its first rise in seven months in November, as companies turned more optimistic and put Europe’s powerhouse economy on track for stronger growth again next year.

* The U.S. shopping frenzy known as “Black Friday” kicked off at a more civilized hour, with some shoppers welcoming decisions by retailers such as Target Corp and Toys R Us Inc moving their openings earlier into Thursday night.

* Panasonic Corp has a better chance than rival Sony Corp of surviving Japan’s consumer electronics slump because of its unglamorous but stable appliance business of washing machines and fridges, credit rating agency Fitch said.


* Canada stock futures traded down 0.04 percent

* U.S. stock futures , , were up around 0.19 percent to 0.33 percent

* European shares, were up


* Thomson Reuters-Jefferies CRB Index : 297.53; fell 0.16 percent

* Gold futures : $1,727.9; were unchanged

* US crude : $87.22; fell 0.18 percent

* Brent crude : $110.44; fell 0.1 percent

* LME 3-month copper : $7,695; fell 0.26 percent


* Enbridge Inc. : The pipeline operator said on Thursday it will build a C$1.8 billion pipeline to ship 570,000 barrels per day of oil between Alberta’s two main storage hubs at Edmonton and Hardisty to accommodate rising output from the oil sands.


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

* Athabasca Oil Corp. : Barclays starts with overweight rating and price target of C$15, says the company offers several potential catalysts and is well capitalized for growth

* Crescent Point Energy Corp : Macquarie resumes coverage with outperform rating and target price of C$50 after the company said it is buying Ute Energy in the Uinta Basin of northeast Utah for $861 million

* Pinecrest Energy Inc. : Macquarie cuts target price to C$2.50 from C$3.25 after the company said it would create a new entity in combination with Spartan Oil Corp


* Major Canadian economic data includes consumer price index

* No major U.S. economic data scheduled for release

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