May 14, 2013 / 12:27 PM / 4 years ago

CANADA STOCKS-TSX may open higher on strong euro zone data

May 14 (Reuters) - Canada’s main stock index looked set to open flat to slightly higher as strong euro zone factory output figures overshadowed weaker-than-expected German ZEW sentiment.

TOP STORIES

* German analyst and investor sentiment edged up in May after a sharp drop in April, suggesting the euro zone’s largest economy is overcoming concerns over a flare-up in the bloc’s debt crisis and is back on track to a timid recovery.

* The European Central Bank clashed with Germany over how quickly the euro zone should set up a full banking union, calling for it to be ready by mid-2014 after Berlin declared it wanted a slower pace.

* Verizon Wireless will pay parents Verizon Communications and Vodafone Group Plc a dividend of $7 billion in June, surprising some analysts who had not expected a big payout.

* Chinese state-controlled power equipment maker XD Group is in early talks to buy General Electric Co’s joint venture with Mexico’s Xignux SA for up to $1 billion, a person familiar with the discussions told Reuters.

* Japanese display maker Sharp Corp, a supplier to Apple Inc, will aim to boost sales to the iPhone maker’s rival Samsung Electronics Co under a three-year rehabilitation roadmap after posting a worse-than-expected $5.4 billion net loss in the last financial year.

MARKET SNAPSHOT

* Canada stock futures traded up 0.01 percent

* U.S. stock futures , , were mixed around -0.02 percent and 0.13 percent

* European shares, were mixed

COMMODITY PRICE MOVES

* Thomson Reuters-Jefferies CRB Index : 288.6811; fell 0.21 percent

* Gold futures : $1,427.9; fell 0.46 percent

* US crude : $95; fell 0.18 percent

* Brent crude : $102.52; fell 0.29 percent

* LME 3-month copper : $7,227.5; fell 2.53 percent ANALYSTS’ RECOMMENDATIONS

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

* Lone Pine Resources Inc : Raymond James Cuts to underperforms from market perform and downs price target to C$0.70 from C$2.00 citing uncertainty on outcome of a strategic review, considers the stock as highly speculative

* Mercator Minerals Ltd : Raymond James Cuts to market perform from outperform and downs target price to C$0.75 from C$1.15 following first-quarter results citing a decrease in the company’s net working capital

* Silver Wheaton Corp : Raymond James cuts target price to $41 from $42 on valuation citing lower-than-expected first-quarter earnings

ON THE CALENDAR

* No major Canadian economic data scheduled for release

* Major U.S. events and data includes import and export prices

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