CANADA STOCKS-TSX may open lower; U.S. economic data and Fed minutes eyed
Nov 20 (Reuters) - Canada's main stock index looked set to
open lower on Wednesday, as investors await a flurry of U.S.
economic data and the Federal Reserve's October minutes, which
could provide further clues on the monetary stimulus program.
* Britain's economy is in a sustained recovery but there are
no major inflation risks and the Bank of England will be in no
rush to raise interest rates, minutes of the central bank's
November policy meeting showed.
* The Bank of Japan is expected to maintain its ultra-loose
monetary policy on Thursday and debate how weak exports and
swinging expectations on when the U.S. Federal Reserve will cut
its stimulus may affect Japan's recovery.
* Home improvement chain Lowe's Cos reported a rise in
quarterly profit and raised its outlook for this year as U.S.
homeowners spent more on their homes.
* Deere & Co reported higher-than-expected fourth-quarter
profit, lifted by strong sales of its tractors and harvesters,
and forecast 2014 earnings that topped estimates.
* A unit of Johnson & Johnson has agreed to pay an estimated
$2.5 billion to settle thousands of lawsuits from individuals
allegedly injured by the company's artificial hip implants, the
company announced Tuesday.
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* Canada stock futures traded down 0.13 percent
* U.S. stock futures , , were down
around 0.1 percent to 0.03 percent
* European shares, were down
COMMODITY PRICE MOVES
* Thomson Reuters-Jefferies CRB Index : 273.4494;
rose 0.15 percent
* Gold futures : $1,269; fell 0.35 percent
* US crude : $93.3; fell 0.04 percent
* Brent crude : $106.64; fell 0.26 percent
* LME 3-month copper : $6,966.25; fell 0.05 percent
Following is a summary of research actions on Canadian
companies reported by Reuters.
* Alimentation Couche-Tard (Symbol : ANCTF) : Canaccord Genuity
raises target price to C$79 from C$69 on valuation, says the
shares remain attractively valued at current levels
* Coastal Energy Co : Canaccord Genuity cuts rating
to sell from buy, says CEPSA's proposed acquisition of the
company will close at C$19 per share as it has a limited chance
of being presented with a higher offer
* Fortress Paper Ltd (Symbol : FTPLF) : CIBC cuts to sector
underperform from sector outperformer, believes operational
improvements will be seen at Thurso in coming months, but the
Chinese duty imposition drains the equity upside in the company
ON THE CALENDAR
* Major Canadian economic data includes wholesale trade
* Major U.S. events and data includes retail sales, consumer
price index and home sales data and Fed October minutes
($1= $1.05 Canadian)
(Reporting by Samarendra Sahoo in Bangalore)
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