CANADA STOCKS-TSX may open lower in wake of Fed decision


Oct 31 (Reuters) - Canada's main stock index pointed to alower open on Thursday after the U.S. central bank gave a lessdovish outlook than many in the market had anticipated, raisingconcerns the massive stimulus may be scaled back earlier thanpreviously expected.


* The Federal Reserve extended its support for a soft U.S.economy on Wednesday, sounding a bit less optimistic aboutgrowth as it announced plans to keep buying $85 billion in bondsper month.

* Suncor Energy Inc : The oil and gas company said onWednesday it was moving ahead with its Fort Hills oil sandsproject in Northern Alberta, with first production expected assoon as the fourth quarter of 2017.

* Valeant Pharmaceuticals International Inc posteda quarterly net loss that it attributed in part to restructuringand impairment charges, and Canada's biggest publicly tradeddrugmaker cut its full-year revenue outlook.

* Barrick Gold Corp said it will suspendconstruction at its Pascua-Lama mine, a surprise reversal on aproject that has cost billions after years of delays and costoverruns.

* The plane and train maker Bombardier Inc reported a 15 percent fall in net profit, and said both aircraftorders and deliveries fell in the third quarter.


* Canada stock futures traded down 0.3 percent

* U.S. stock futures , , were downaround 0.41 percent to 0.17 percent

* European shares, were mixed


* Thomson Reuters-Jefferies CRB Index : 280.4252;fell 0.05 percent

* Gold futures : $1,334; fell 1.11 percent

* US crude : $96.4; fell 0.38 percent

* Brent crude : $109.58; fell 0.25 percent

* LME 3-month copper : $7,243.5; fell 0.64 percent


* Canadian Oil Sands Ltd : The company which ownsthe largest stake in the Syncrude Canada Ltd oil sands projectin northern Alberta, said on Wednesday its third-quarter profitfell 27 percent from a year earlier as maintenance issuesreduced output.

* First Quantum Minerals Ltd : The base metal minerreported higher third-quarter earnings on Wednesday on the backof increased production, in part due to its takeover this yearof a smaller rival, and despite lower metals prices received.


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

* Baytex Energy Corp : National Bank Financialraises target price to C$51 from C$50 as the company recorded astrong third-quarter result.

* First Quantum Minerals Ltd : National BankFinancial raises target price to C$21.25 from C$20.50 says thecompany's financial position remains strong.

* Sherritt International Corp : National BankFinancial cuts target price to C$4.75 from C$5.10 following thecompany's third-quarter results.


* Major Canadian economic data includes GDP

* Major U.S. events and data includes initial, continuingclaims and Chicago PMI

View Comments (0)