TSX may open lower, markets wary on stimulus

(Reuters) - Canada's main stock index, with its heavy weighting of resource issues, looked set to open lower on Wednesday as commodity prices fell and investors stayed on the sidelines awaiting clues from major central banks on economic stimulus.

TOP STORIES

Retailer Sears Canada Inc reported a wider second-quarter loss on a drop in sales at its outdoor power equipment category and lower sales during weekends.

Standard Chartered is pursuing a collective settlement with other U.S. authorities after a speedy agreement to pay $340 million to New York's financial regulator, who broke ranks with early revelations that the bank hid banned Iranian transactions.

Australia called on the world to match its tough new anti-tobacco marketing laws after its highest court on Wednesday dismissed a challenge from global cigarette companies, although few of Asia's emerging economies appeared likely to follow suit.

Greek Prime Minister Antonis Samaras will next week have his first meetings with euro zone leaders since taking office, striving to assure them he will honor a pledge for more austerity and gauging whether they could grant him more time to pull it off.

China-based specialty fertilizer maker Migao Corp reported a quarterly loss as revenue fell by two-thirds on further weakness in the hydrochloric acid market.

MARKET SNAPSHOT

Canada stock futures traded down 0.03 percent

U.S. stock futures,, were down in the range of -0.14 to -0.21 percent <.n/>

European shares <.fteu3>, <.stoxx> were down <.eu/>

COMMODITY PRICE MOVES

Thomson Reuters-Jefferies CRB Index <.crb>: 299.8; fell 0.17 percent

Gold futures: $1,592; fell 0.46 percent

US crude: $92.97; fell 0.49 percent

Brent crude: $113.66; fell 0.32 percent

LME 3-month copper: $7,388.75; fell 0.37 percent

CANADIAN STOCKS TO WATCH

Canadian gold miner Argonaut Gold Inc's quarterly profit more than doubled on increased production and higher gold prices.

HudBay Minerals Inc. : The base metal miner posted a second-quarter loss on Tuesday on an impairment charge, along with lower metal prices and lower sales volumes.

Connacher Oil and Gas Ltd : The company is to sell its Montana refinery to U.S.-based Calumet Specialty Products Partners for about $120 million, plus working capital.

Aeterna Zentaris Inc. : The drugmaker reported a quarterly profit on Tuesday, as finance income jumped.

Centric Health Corp. : The diversified healthcare company's quarterly profit more than tripled as acquisitions paid off.

ANALYST RECOMMENDATIONS

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

Alimentation Couche Tard : NBF raises price target to C$54 from C$50 to incorporate the company's recent equity offering and higher margin expectations from SFR integration

Baytex Energy : NBF raises price target to C$54 from C$49 after the company reported solid second-quarter results, ups rating to outperform from sector perform

Bonterra Energy Corp : CIBC cuts target to C$47 from C$49 after the company reported second-quarter results that were below CIBC's expectations on both production and cash flow

Norbord Inc : RBC raises price target to C$20 from C$17 on higher pricing assumptions on Oriented Strand Board, which is Norbord's core business

Tim Hortons Inc : CIBC cuts price target to C$57 from C$62 cites reduction in same-store sales forecast

ON THE CALENDAR

No major Canadian economic data scheduled for release

Major U.S. events and data includes consumer prices index, New York Fed's Empire state manufacturing survey, as well as industrial output

(Reporting By Mohit Malukani; Editing by Frank McGurty)

Source: http://news.yahoo.com/tsx-may-open-lower-markets-wary-stimulus-122444951--finance.html

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