June 15, 2012 / 12:37 PM / 5 years ago

CANADA STOCKS-TSX may open higher on central bank hopes

3 Min Read

June 15 (Reuters) - Toronto's main stock index looked set to open higher on Friday on hopes that central banks of the world's major economies are ready to step in to stabilize markets if pushed to the brink by the outcome of Greece's weekend elections.

Top Stories

* Central banks from major economies stand ready to take steps, including coordinated action, to stabilize markets as world economies prepare for a possible financial storm or public panic after cliffhanger elections in Greece this weekend.

* The euro zone economy faces serious risks and politicians must act fast, although the European Central Bank stands ready to provide further liquidity to solvent banks, ECB President Mario Draghi said.

* The number of people in work in the euro zone fell again in the first three months of this year while imports of goods slid, highlighting the bloc's troubled economy that is increasingly reliant on exports to prevent an even deeper slump.

* Bombardier Inc's train unit signed a contract with the San Francisco Bay Area Rapid Transit District to deliver 260 new rail cars for $631 million.

Market Snapshot

* Canada stock futures traded up 0.28 percent

* U.S. stock futures , , were up around 0.4 to 1.4 percent

* European shares, were up/down

Commodity Price Moves

* Thomson Reuters-Jeffries CRB Index : 272.84; rose 0.29 percent

* Gold Futures : $1626; rose 0.47 percent

* US Crude : $84.26; rose 0.42 percent

* Brent Crude : $97.62; rose 0.46 percent

* LME 3-month Copper : $7495; rose 1.01 percent

Analyst Recommendations

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

* Cominar REIT : CIBC raises target price to C$25 from C$24.50 on higher Q1 funds from operations; rating sector performer

* MAG Silver : Canccord Genuity cuts price target to C$16 from C$18 on valuation; rating speculative buy

* Transat A.T. : Canaccord Genuity cuts to hold from buy, price target to C$4.25 from C$7.50 on wider-than-expected Q1 loss and weak Q2 outlook

On the Calendar

* Major Canadian economic data includes manufacturing sales

* Major U.S. events and data includes industrial output, Reuters/University of Michigan and Empire State Index

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