Raymond James cuts Trican Well Service TCW

The Toronto Stock Exchange's S&P/TSX composite index.GSPTSE is coming off a sharply lower close as jitters aboutupcoming corporate earnings and the state of the global economyweighed on investor sentiment. Here is some of the news that may affect the market: OIL EDGES HIGHER AFTER EARLY DROP Oil edged up nearer to $38 a barrel on Thursday after anearly $1 fall, but more glum figures from world markets put acap on further gains. ID:nLF147418 SHAREHOLDER OF AIR CANADA PARENT TO OPPOSE WINDUP One of the largest shareholders of Air Canada's (ACa.TO)parent, ACE Aviation Holdings Inc (ACEa.TO), said on Wednesdayit will oppose ACE's planned windup, saying it is not in thebest interest of investors. ID:nN14483382 CRYSTALLEX, GOLD RESERVE HAVEN'T HEARD FROM CHAVEZ Crystallex International (KRY.TO) and Gold Reserve (GRZ.TO)both said on Wednesday they have not heard from the Venezuelangovernment regarding statements by President Hugo Chavez thathe will award their key gold concessions in the country to athird party ID:nN14484558 TRANSCANADA SAYS DELAYS WON'T HAMPER U.S. PIPELINE Delays to projects planned by Canadian oil producers andU.S. refiners will not hamper TransCanada Corp's (TRP.TO) $12billion Keystone oil pipeline to the United States, as most ofit is already booked with committed crude volumes, an executivesaid on Wednesday.

ID:nN14480753 RESEARCH ROUNDUP Following is a summary of research on Canadian companies.For more, please see RCH/CA Jennings Capital cuts Petrolifera Petroleum (PDP.TO)price target 25 percent to C$3.75 with a "buy" rating. Raymond James cuts Trican Well Service (TCW.TO) pricetarget 10 percent to C$9 with "market perform" rating. ECONOMIC DATA SLATE There is no key domestic economic data due out ahead of theBank of Canada's next interest rate announcement scheduled forJan 20. The central bank cut its key rate in December to itslowest in 50 years and is widely expected to cut it again nextweek. ($1$1.25 Canadian) (Reporting by Frank Pingue; Editing by James Dalgleish) Stocks.

FRANKFURT (Reuters) - The European Central Bank cut its benchmark interest rate by 50 basis points to 2.0 percent on Thursday, matching its lowest-ever rate as inflation plummets and recession spreads. Financial markets had priced in 50 basis points or more.The euro fell to a 5-week low against the dollar after the decision and a 6-week low against the yen, while Bund and Euribor futures rose.Trichet is expected to justify the rate cut by pointing to the diminishing upside risks to inflation, which fell to 1.6 percent in December, and a contraction in domestic demand as well as tighter financing conditions.The ECB also set new rates for its overnight facilities, after announcing in December it would increase the gap between these rates and the benchmark rate to back to 100 basis points.From January 21, funds borrowed from its marginal lending facility will attract an interest rate of 3.0 percent and overnight deposits will pay 1.0 percent.INFLATION PRESSURE DOWNInflation in the euro zone has fallen rapidly in recent months and was 1.6 percent in December, compared with the ECB's goal of keeping inflation below, but close to 2 percent.Economists expect inflation to fall further and some of them have warned of deflation danger, as falling prices could make already cautious consumers even more jittery and cut spending.While rates at 2.0 percent match the lowest level in the 10-year history of the ECB in historic terms, they pale alongside almost-zero borrowing costs in the United States and Japan, as well as a British central bank thought to be headed in a similar direction.The numbers on the euro zone have got worse by the week since the bloc was confirmed as in recession late last year.Recent data showed Germany's economy, the euro zone's biggest, likely shrank 1.5-2.0 percent in the fourth quarter of 2008 and officials there have signaled this year will see the worst contraction since World War Two.Industrial production has also plummeted across the 16-country bloc in recent months.(Reporting by Sakari Suoninen; Editing by Toby Chopra) Crisis in Credit. JOHANNESBURG, Jan 15 (Reuters) - South Africa's Simmer &Jack Mines (Simmers) (SIMJ.J) said on Thursday work at itsBuffelsfontein gold mine had not been affected by a protestmarch at the mine on Wednesday. Simmers said some 1,000 members of the National MineworkersUnion (NUM) took part in the planned march and handed amemorandum to the company with demands in a wage dispute. "Shifts are going ahead as normal and the negotiationprocess continues," the company said in a statement.

Simmers said in November it could lay off about 500 workersat the Buffelsfontein mine by the end of January if it failed tomeet output targets. The company had said it faced unprecedented increases in thecosts of mining and milling materials, while it had spent largeamounts of capital since 2005 to ensure that the mine had theinfrastructure to produce according to plans (Reporting by Agnieszka Flak; editing by Sue Thomas). File this under "the glass is half-empty."Facing an Oakland Raiders (2-6) team that could not get any semblance of pass defense against San Diego's aerial attack, the Chargers (4-3) chose to run 30 times in 55 plays.When the Raiders had the ball, the Bolts faced a team they knew would run at them (as their QB boasts a rating of 47.2), and yet they allowed nearly 100 yards on the ground and eight rushing first downs.Going into halftime with a cozy 21-10 lead, the Chargers dozed, left the Raiders for dead, and found themselves defending on their own side of the field with 2:00 remaining as Oakland looked to potentially tie the game.That, of course, didn't happen. In the ensuing scuffle, his 5'6" 180-pound frame was no match for Oakland's bigger bodies, and he lost the ball.During a fourth-quarter drive, San Diego marched 83 yards down the field largely on the strength of the passing game, with Philip Rivers totaling 49 yards on just three passes.It took seven rushes to get the other 34 yards.With 1st-and-goal at the three, the Chargers committed a false start, allowed Philip Rivers to be sacked, and eventually settled for a field goal from Nate Kaeding.Norv Turner ignored all logic and conventional wisdom by running the ball 33 times for 100 yards, a dazzling average of 3.3 yards per rush.The average of yards per pass play Nine and a half.Why nibble and insist on feeding an increasingly finished LaDainian Tomlinson (who had a couple of nice runs, but again, mostly duds) when the big play is undoubtedly your best friendWhy not blitz and fill up inside gaps as often as you can when you're playing against a good running team and an awful QBWhy let the Oakland Raiders hang around for so long when you started off so hot (a TD off a Wildcat play Attaboy, Norv) and could've potentially put the game out of reach earlyNorv must dabble part-time as a CBS executive, as his antics definitely made for great TV Sunday afternoon.