CANADA STOCKS-TSX may open higher on euro zone recovery hopes
April 2 (Reuters) - Canada's main stock index looked set to open higher as euro zone manufacturing data came in slightly better than a preliminary estimate, raising hopes for the region's recovery. TOP STORIES * Manufacturing across Europe's major economies endured another month of mostly deep decline in March, dragging down even former bright spots, surveys showed. * Spain will revise down its economic growth forecast for 2013 next week and seek more time from the European Union to reduce its budget deficit as recession cuts deeper than previously expected, a government source told Reuters. * In a reversal that followed intense lobbying from the health insurance industry and members of Congress, the U.S. government said it will increase the payment rate for health insurers that offer coverage through the popular Medicare Advantage program. * Apple Inc CEO Tim Cook apologized to Chinese consumers on Monday and altered iPhone warranty policies in its No. 2 market after more than two weeks of condemnation in the state-run media of its after-sales service. * AstraZeneca has suffered a fresh patent setback with a U.S. court decision that a patent protecting its Pulmicort Repsules asthma treatment is invalid, clearing the way for a generic copy from Actavis.MARKET SNAPSHOT * Canada stock futures traded up 0.41 percent * U.S. stock futures , , were up around 0.41 percent and 0.67 percent * European shares, were up COMMODITY PRICE MOVES * Thomson Reuters-Jefferies CRB Index : 295.3601; rose 0.09 percent * Gold futures : $1,596.1; fell 0.24 percent * US crude : $97.23; rose 0.67 percent * Brent crude : $111.71; rose 0.57 percent * LME 3-month copper : $7,471; fell 0.92 percent ANALYSTS' RECOMMENDATIONS Following is a summary of research actions on Canadian companies reported by Reuters. * Alterra Power Corp : NBF cuts price target to C$0.50 from C$0.70 as the company missed expectations in its fourth quarter due to lower production. * Blackberry : SocGen raises target price to $13 from $8.4, says the launch of the Z10 has gone much better than expected and there should be opportunity for volumes to grow again in the first quarter of 2014. * KP Tissue Inc : CIBC starts coverage with sector outperform rating, says with a stable industry demand and strong brand portfolio, the company generates attractive sustainable margins. * Orezone Gold Corp : CIBC cuts price target to C$3.35 from C$3.50 to reflect the market concerns surrounding the company with the recent instability in West Africa. ON THE CALENDAR * No major Canadian economic data scheduled for release * Major U.S. events and data includes factory orders, chain store sales, redbook and regional business activity data
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