November 26, 2012 / 1:27 PM / 6 years ago

CANADA STOCKS-TSX may open lower, focus on Greek bailout talks

November 26 (Reuters) - Canadian stocks looked set to open lower on Monday, tracking U.S. and European counterparts, with investors wary ahead of a meeting by euro zone finance ministers on debt-burdened Greece and U.S. negotiations over the “fiscal cliff” that could derail the world’s biggest economy.


* Euro zone finance ministers and the International Monetary Fund will seek to unfreeze the second bailout package for Greece on Monday, but they first need to agree if some of the official loans to Athens might eventually be forgiven to cut Greek debt.

* Canadian private equity company Onex Corp said it will buy USI, a U.S. provider of insurance brokerage services, from GS Capital Partners for $2.3 billion.

* U.S. lawmakers have made little progress in the past 10 days toward a compromise to avoid the harsh tax increases and government spending cuts scheduled for Jan. 1, a senior Democratic senator said on Sunday.

* UBS was fined 30 million pounds by Britain’s financial watchdog and put under extra scrutiny by its Swiss counterpart over failings that allowed a rogue trader to lose $2.3 billion. [ID: nL5E8MQ0J6]

* U.S. shoppers went to stores earlier this Thanksgiving weekend and bought online more than in years past, giving retailers like Wal-Mart Stores Inc and Macy’s Inc a strong start to the holiday shopping season, data showed on Sunday.

* The U.S.-Israeli consortium including Noble Energy, Isramco Negev, Avner Oil Exploration and Delek Drillion, developing the Tamar natural gas field off Israel’s Mediterranean coast said it had signed gas supply deals worth about $4 billion with units of conglomerate Israel Corp.


* Canada stock futures traded down 0.07 percent

* U.S. stock futures , , were down around 0.28 - 0.47 percent

* European shares, were down


* Thomson Reuters-Jefferies CRB Index : 298.16; fell 0.45 percent

* Gold futures : $1,750.5; fell 0.05 percent

* US crude : $87.76; fell 0.59 percent

* Brent crude : $110.95; fell 0.39 percent

* LME 3-month copper : $7,791; rose 0.18 percent


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

* Canadian Satellite Radio Holdings Inc. : RBC raises price target to C$6.50 from C$5.50 after the company completed a strong first year post its merger, received a new broadcast license from the CRTC and initiated a larger-than-expected dividend.

* Conifex Timber Inc. : CIBC cuts price target to C$11.25 from C$12.25 reflecting company’s third-quarter results, lower lumber production levels and higher lumber price assumptions.

* Dollarama Inc. : RBC raises target price to C$76 from C$69, citing its consistent growth and visibility in the current challenging retail environment and its free cash flow.


* No major Canadian or U.S. economic data expected to be released

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