CANADA STOCKS-TSX poised for flat open; Ukraine crisis rattles investors

Thu, 06 Mar - 11:55pm

March 6 (Reuters) - Canada's stock index futures pointed to a flat opening on Thursday as the crisis in Ukraine continued to unsettle markets and investors digested key U.S. labor data.

TOP STORIES

* Crimea's parliament voted to join Russia and its Moscow-backed government set a referendum within 10 days on the decision in a dramatic escalation of the crisis over the Ukrainian Black Sea peninsula. News Search ID:nL6N0M320U

* The number of Americans filing new claims for unemployment benefits fell more than expected and hit a three-month low last week, a sign of strength in a labor market that has been hobbled by severe weather. News Search ID:nLNS6EEADX

* Oil and gas giants Chesapeake Energy and Encana Corp

ECA.TO were charged on Wednesday with colluding to keep oil and gas lease prices artificially low in Michigan, state Attorney General Bill Schuette said. News Search ID:nL1N0M306T

* Canadian Natural Resources Ltd CNQ.TO , Canada's No.2 oil and gas company, reported a 17 percent rise in quarterly profit, helped by higher output at its Pelican Lake project in Alberta.

News Search ID:nL3N0M32UK

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To receive an early e-mail of Reuters Morning News Call - Canada - a preview of market moving news - Thomson Reuters subscribers can register at Href="NewsSearch">CA/MNC

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MARKET SNAPSHOT

* Canada stock futures 0#SXF: traded unchanged

* U.S. stock futures 0#SP: , 0#DJ: , 0#ND: were up

* European shares .FTEU3 , .STOXX were up Href="NewsSearch">.EU

COMMODITY PRICE MOVES

* Thomson Reuters-Jefferies CRB Index .TRJCRBTR : 306.1278; fell 0.2 percent

* Gold futures GCc1 : $1334.9; fell 0.4 percent Href="NewsSearch">GOL/

* US crude CLc1 : $100.79; fell 0.65 percent Href="NewsSearch">O/R

* Brent crude LCOc1 : $107.63; fell 0.12 percent Href="NewsSearch">O/R

* LME 3-month copper CMCU3 : $7037; rose 0.1 percent

Href="NewsSearch">MET/L

CANADIAN STOCKS TO WATCH

* Linamar Corp LNR.TO : The auto parts maker reported higher net earnings for the fourth quarter on Wednesday, bolstered by stronger sales in North America, Asia and Europe.

News Search ID:nL1N0M224F

* Kinross Gold Corp K.TO : The miner said unionized employees went on strike at its Maricunga mine in Chile, forcing it to suspended operations at the site. News Search ID:nL3N0M25IY

ANALYSTS' RECOMMENDATIONS

Following is a summary of research actions on Canadian companies reported by Reuters. Href="NewsSearch">RCH/CA

* Cott Corp BCB.TO : CIBC cuts to sector performer from sector outperformer and cuts target price to $9 from $10. Says the U.S. carbonated soft drink industry's annual structural decline of -3% to -4% will lead to falling volumes for the company

* Laurentian Bank of Canada LB.TO : Barclays raises target price to C$47 from C$46 on the company's stable net interest margins, increased portfolio diversification and decline in integration costs in its first-quarter results

* Linamar Corp LNR.TO : CIBC raises to sector outperformer from sector performer and raises target price to C$60 from C$42 based on the company's strong fourth-quarter results

* Painted Pony Petroleum Ltd PPY.TO : CIBC raises target price to C$10.25 from C$9 on the company's strong increase in reserves

ON THE CALENDAR

* Major Canadian data include building permits and Ivey PMI

ECONCA

* Major U.S. data includes factory orders, durable goods and productivity data

($1= $1.10 Canadian)

(Reporting by Ayesha Sruti Ahmed in Bangalore; Editing by Sophie Hares)

((ayeshasruti.ahmed@thomsonreuters.com)(91 80 6749 4811)(Reuters Messaging:)(ayeshasruti.ahmed.thomsonreuters.com@reuters.net))

Keywords: MARKETS CANADA/STOCKS

URN: 
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