Feb 27 Toronto's main stock index looked set to
open slightly lower on renewed concerns about the euro zone debt
crisis after Italian 10-year borrowing costs climbed more than
half a percentage point.
* Italy's 10-year debt costs rose more than half a
percentage point on Wednesday at the first longer-term auction
since an inconclusive parliamentary election, although they
remained below the psychologically important level of 5 percent.
* Federal Reserve Chairman Ben Bernanke strongly defended
the U.S. central bank's monetary stimulus before Congress on
Tuesday, easing financial market worries over a possible early
retreat from bond purchases.
* JPMorgan Chase & Co said on Tuesday that it plans to cut
17,000 jobs by the end of 2014, representing about 6.6 percent
of the company's overall workforce, as the bank sheds staff that
helped it deal with bad home loans.
* The department store chain Sears Canada Inc said
its fourth-quarter profit fell 3 percent on lower sales of
hardware and home electronic goods.
* Anheuser-Busch InBev, the world's biggest beer maker,
forecast a weak start to the year in the U.S. and Brazil after
slightly lower earnings than expected in the final months of
* Canada stock futures traded down 0.03 percent
* U.S. stock futures , , were mixed in
the range of -0.01 percent to 0.22 percent
* European shares, were up
COMMODITY PRICE MOVES
* Thomson Reuters-Jefferies CRB Index : 293.9979;
rose 0.1 percent
* Gold futures : $1,605.3; fell 0.6 percent
* US crude : $92.77; rose 0.15 percent
* Brent crude : $113.07; rose 0.32 percent
* LME 3-month copper : $7,873.5; rose 0.19 percent
Following is a summary of research actions on Canadian
companies reported by Reuters.
* Bank of Montreal : CIBC raises target price to
C$66 from C$65 on the company's strong U.S. core loan growth.
* Maple Leaf Foods Inc : CIBC raises target price to
C$14 from C$13 on the company's strong fourth-quarter results.
* Parkland Fuel Corp : CIBC raises to sector
outperformer from sector performer, cuts price target to C$19.50
from C$20.50 to reflect the company's improved earnings
visibility, compelling yields, coherent growth strategy and
improved balance sheet.
* Calfrac Well Services Ltd : RBC raises target
price to C$30 from C$27 citing the company's constructive
Canadian outlook and near-term growth opportunities focused on
* Iamgold Corp : SocGen cuts target price to C$8.40
from C$9.60 to reflect execution risks at the company's Essakane
and Rosebel projects.
ON THE CALENDAR
* No major Canadian economic data scheduled for release
* Major U.S. events and data includes pending home sales and