Reuters: Financial Services and Real Estate: CANADA STOCKS-TSX may open lower, Greece and China weigh

Reuters: Financial Services and Real Estate Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

CANADA STOCKS-TSX may open lower, Greece and China weigh May 14th 2012, 12:37 Mon May 14, 2012 8:37am EDT May 14 (Reuters) - Canada's resource heavy main stock index looked set to open lower on Monday, as the political impasse in Greece and signs China was struggling to shore up its economy cast a shadow on global growth prospects and hurt commodity prices. TOP STORIES * Greece's president met little enthusiasm from political leaders summoned to a final round of talks to avert a new election, reinforcing fears the country was firmly on the path to bankruptcy and an exit from the euro zone. * China's central bank cut the amount of cash that banks must hold as reserves on Saturday, freeing an estimated 400 billion yuan ($63.5 billion) for lending to head-off the risk of a sudden slowdown in the world's second-largest economy. * JP Morgan will move to limit the fallout from a shock trading loss that could reach $3 billion or more by parting company with three top executives involved in its costly failed hedging strategy, sources close to the matter said. * The Australian uranium miner Paladin Energy Ltd said most local employees at its Kayelekera mine in Malawi, southeast Africa, went on strike on Friday demanding higher pay. * Silver Wheaton Corp reported a 20 percent increase in first-quarter earnings, driven by increased output from mines with which the stream financing company has silver purchase agreements. MARKET SNAPSHOT * Canada stock futures traded down 0.83 percent * U.S. stock futures , , were down around 0.63-0.76 percent * European shares, were down COMMODITY PRICE MOVES * Thomson Reuters-Jeffries CRB Index : 289.32; fell 0.85 percent * Gold Futures : $1,563.1; fell 1.29 percent * US Crude : $94.41; fell 1.79 percent * Brent Crude : $110.83; fell 1.27 percent * LME 3-month Copper : $7,875; fell 1.72 percent CANADIAN STOCKS TO WATCH * Legacy Oil + Gas Inc.. The company posted a first-quarter profit on increased production and higher prices. * Iamgold Corp. : The miner's first-quarter net earnings from continuing operations fell 11 percent, as gold production for the quarter fell and mining costs increased. * Canadian Pacific : The CEO of the railway has lost the support of two more big investors ahead of a crucial shareholder vote, pointing to victory for activist investor William Ackman in a bruising proxy battle. * Toronto Dominion Bank : The bank agreed to pay $62 million to settle U.S. lawsuits accusing it of charging customers excessive overdraft fees. ANALYST RECOMMENDATIONS Following is a summary of research actions on Canadian companies reported by Reuters. * Alliance Grain Traders : Canaccord Genuity and CIBC cut price target on weaker-than-expected quarterly results * Crombie REIT : Canaccord Genuity raises price target to C$16.20 from C$15.40, after recent acquisition of Goldmanco portfolio * Enerplus : Macquarie cuts price target by C$1 to C$19 on lower fund flow forecast, keeps rating neutral * Miranda Technologies : CIBC cuts target to C$12 from C$14 on slowing growth; rating sector performer * Osisko Mining : BMO cuts price target to C$11 from C$15 after the company posted weaker-than-anticipated quarterly results, rating outperform ON THE CALENDAR * No major Canadian economic data is due to be released Link this Share this Digg this Email Reprints

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