Markets today: What you need to know | Investing | Financial Post

Reuters U.S. stock index futures are pointing to a lower open today after disappointing trade data from Japan and ahead of key Greek meetings in the eurozone.

Canada?s benchmark stock index, dominated by resource shares, looked set to open lower on Wednesday after BHP Billiton Ltd delayed a $20 billion copper-mine expansion as the global outlook for demand grows more uncertain.

TOP STORIES

• Japan?s exports slumped the most in six months in July as shipments to Europe and China tumbled, adding to concerns over global demand after a string of dire trade figures from Asia?s export engines.
• Top global miner BHP Billiton delayed its planned $20 billion Olympic Dam copper expansion on Wednesday and said no major projects would be approved in the year to June 2013, as it battles escalating capital costs.
• Germany easily sold 4 billion euro of new interest-free two-year bonds on Wednesday, with investors edgy about European Central Bank plans to curb the debt crisis, though demand was below this year?s average.
• Greek Prime Minister Antonis Samaras starts a European charm offensive with talks to persuade eurozone chief Jean-Claude Juncker that the debt-laden nation has the will to ram through unpopular reforms and deserves more time to do it.
• U.S. authorities are investigating Royal Bank of Scotland over possible breaches of sanctions on Iran, as part of a crackdown in which Standard Chartered has already agreed to pay a heavy fine for transactions involving Tehran.

MARKET SNAPSHOT

• Canada stock futures traded down 0.3%
• U.S. stock futures were down around 0.3%

COMMODITY PRICE MOVES

• Thomson Reuters-Jefferies CRB Index fell 0.2%
• Gold futures GCc1: $1,641.7; rose 0.11%
• US crude CLc1: $96.56; fell 0.29%
• Brent crude LCOc1: $113.91; fell 0.64%
• LME 3-month copper CMCU3: $7,577.5; fell 0.43%

CANADIAN STOCKS TO WATCH

• Telus Corp. The telecommunications provider proposed to revive its plan to unify its share structure by converting non-voting shares into common shares on a one-for-one basis.

ANALYST RECOMMENDATIONS

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

• CGI Group Inc. GIBa.TO: CIBC resumes coverage with sector outperformer rating and raises target to $30 from $25.5, says the closure of $2.7 billion Logica acquisition will double CGI?s revenues
• EXFO Inc. EXF.TO: CIBC starts with sector underperformer rating and sets price target of $4 for its U.S.-listed shares citing higher budget spending in the first quarter
• Painted Pony Petroleum Ltd. PPY.V: CIBC raises price target to $12.50 from $12, after the company reported second-quarter cash flow per share above estimate.

? Thomson Reuters 2012

Source: http://business.financialpost.com/2012/08/22/what-you-need-to-know-before-markets-open-378/

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