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Canada Stocks-tsx May Open Higher; Helped By Firmer Gold Price

recovery boosts exports, although the Bank of Canada is unlikely to raise interest rates until early 2015, the International Monetary Fund said on Wednesday. The IMF sees Canada's economic growth accelerating to 2.25 percent in 2014 from an estimated 1.6 percent this year. While household consumption has remained robust this year, growth in exports and business investment has disappointed. As demand and capacity utilization increase, business investment is expected to strengthen, particularly spending on machinery and equipment, the IMF said in a report. Investment in Canada's key energy sector is also seen expanding, with greater reliance on rail transportation, and additional pipeline and refining capacity expected to reduce volatility in the price of Canadian heavy oil.
More: http://www.reuters.com/article/2013/11/27/canada-economy-imf-idUSL2N0JA13L20131127

dollar as the deficit in the July-September period narrowed from a second quarter gap that was revised to C$15.9 billion from an originally reported C$14.6 billion, Statistics Canada said today in Ottawa. Economists surveyed by Bloomberg predicted the shortfall would shrink to C$14.4 billion. Very disappointing Canadian current account data, said Eimear Daly, a currency market analyst at Monex Europe Ltd., by phone from London . A significant downgrade in the second quarter report and then the third quarter report coming significantly below market forecast says there really hasnt been that shift away from domestic demand and the reorientation to export growth the Bank of Canada is looking for as a signal to hike rates. The loonie, as the Canadian dollar is known for the image of the water fowl on the C$1 coin was little changed at C$1.0593 per U.S. dollar at 9 a.m. in Toronto. Yesterday it touched C$1.0603 per U.S.
More: http://www.bloomberg.com/news/2013-11-28/canada-dollar-rises-from-5-month-low-before-current-account-data.html

NHL lands $5.2 billion for Canada TV rights

The NHL has its TV rights locked up for more than a decade, and the new CBA could last through 2022. With those issues buttoned up, the NHL might be in position to consider expansion. The NHL has no plans to expand, but many cities are interested. "It's a fair question," Daly said. "But I can say, we haven't even gotten this one behind us yet because it is subject to board of governors approval. But we take these transactions one at a time, and then we will figure out what's best for the National Hockey League." The loser in the deal is TSN, Canada's version of ESPN, which had been a rights-holder. The deal puts Sportsnet in position to become Canada's No. blog url
More: http://www.usatoday.com/story/sports/nhl/2013/11/26/nhl-tv-canada-rights-rogers-sportsnet-tsn/3746859/

Canada 3Q Current Account Deficit Was Wider Than Forecast

The Canadian dollar was little changed at C$1.0588 per U.S. dollar at 9:42 a.m. in Toronto. Yesterday it touched C$1.0603 per U.S. dollar, the lowest since July. One dollar buys 94.45 U.S.
More: http://www.bloomberg.com/news/2013-11-28/canada-3rd-qtr-current-account-deficit-was-larger-than-forecast.html

Trading was expected to be muted with U.S. bond and stock markets closed for the Thanksgiving holiday. The only domestic news on the docket for Thursday was a report on Canada's current account deficit, which shrank in the third quarter, though the second-quarter deficit was substantially larger than previously reported. The deficit fell to C$15.47 billion ($14.59 billion) in the third quarter from C$15.92 billion in the second, which was revised from C$14.58 billion. Analysts had forecast a third-quarter deficit of C$14.4 billion.
More: http://www.reuters.com/article/2013/11/28/markets-canada-dollar-bonds-idUSL2N0JD0L020131128?feedType=RSS

The retailer said Tuesday that most of the cuts would be made in website its repair services and parts businesses, where 712 jobs will be eliminated during the next six months. Another 79 employees go here now will lose their jobs in the company's head office in Toronto. The retailer has about 25,000 workers. Sears Canada is looking for more ways to improve its financial results after having earlier sold several department store leases in the face of heightened competition. Sears Canada has already closed some of its big city locations in Western Canada and has announced plans to vacate other large stores, including its flagship downtown Toronto location.
More: http://abcnews.go.com/Business/wireStory/sears-canada-lay-off-800-workers-21023783

* A judge on Wednesday approved a settlement resolving U.S. regulators' opposition to a merger between AMR Corp and US Airways Group Inc, allowing AMR, the bankrupt parent of American Airlines, to soon close on a tie-up that will create the world's largest carrier. * Barclays http://salazarqtmy.crowdvine.com/pages/kanye_westkim_kardashian_suing_youtube_co_founder_over_pro Capital Inc has been ordered to pay $2.1 million to a New York-based trader it fired last year in connection with the alleged rigging of the London interbank offered rate, or Libor, according to arbitration documents. MARKET SNAPSHOT * Canada stock futures traded up 0.3 percent * European shares, were up * Thomson Reuters-Jefferies CRB Index : 274.0694; was unchanged * Gold futures : $1,243.2; rose 0.44 percent * Brent crude : $110.94; fell 0.33 percent * LME 3-month copper : $7,001; fell 0.27 percent CANADIAN STOCKS TO WATCH * Saputo Inc : Murray Goulburn Co-operative Co Ltd piled pressure on the company in the race for control of key Australian dairy exports with a fresh A$530 million cash offer on Thursday for Warrnambool Cheese and Butter Factory Co. * TransCanada Corp : Canada's National Energy Board said on Wednesday it is investigating a pipeline rupture and natural gas leak on TransCanada's Nova system near Boyle, Alberta. ANALYSTS' RECOMMENDATIONS Following is a summary of research actions on Canadian companies reported by Reuters. * Keyera Corp : CIBC raises price target to C$65.60 from C$62 to reflect analysts increased confidence in the KFS II and Norlite projects.
More: http://uk.reuters.com/article/2013/11/28/markets-canada-stocks-idUKL4N0JD2HM20131128

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