June 4, 2013 / 12:27 PM / 4 years ago

CANADA STOCKS-TSX may open lower, U.S., euro zone data weigh

3 Min Read

June 4 (Reuters) - Canada's main stock index looked set to open lower on Tuesday after ending its lowest in more than two weeks in the previous session, as investors paused on uncertainty surrounding the U.S. Federal Reserve's bond-buying program coupled with weak U.S. and euro zone data.

Top Stories

* Japan's government is set to urge the nation's public pension funds - a pool of over $2 trillion - to increase their investment in equities and overseas assets as part of a growth strategy being readied by Prime Minister Shinzo Abe, according to people with knowledge of the policy shift.

* Euro zone producer prices fell further in April on a sharp decline in energy costs, marking the biggest month-on-month decrease since July 2009, figures released showed.

* Web-based software maker Salesforce.com Inc said it would buy marketing software provider ExactTarget for about $2.5 billion in cash.

* Discount chain Dollar General reported a 3 percent increase in quarterly profit as growth in its consumables business, which includes packaged food and cleaning products, more than offset weak sales of weather-sensitive products.

* Steven A. Cohen's embattled hedge fund SAC Capital Advisors is facing a much tougher and less glamorous future, as outside investors pull the bulk of their money from the firm in the wake of an ongoing insider trading probe.

Market Snapshot

* Canada stock futures traded down 0.07 percent

* U.S. stock futures , , were mixed in the range of -0.01 percent and 0.09 percent

* European shares, were up

Commodity Price Moves

* Thomson Reuters-Jefferies CRB Index : 285.1236; fell 0.11 percent

* Gold futures : $1,397; fell 1.04 percent

* US crude : $93.11; fell 0.36 percent

* Brent crude : $102.14; rose 0.08 percent

* LME 3-month copper : $7,376.5; rose 0.5 percent

Canadian Stocks to Watch

* Rio Alto Mining Ltd : The company said it has temporarily suspended some operations at its La Arena gold mine in Peru after a blockade of the main road to the site as part of a protest against the country's police and judicial system.

Analysts' Recommendations

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

* Autocanada Inc : Canaccord Genuity raises price target to C$31.50 from C$29 on the completion of a bought deal and secondary share offering and on the announcement of the acquisition of Courtesy Chrysler.

* Platinum Group Metals Ltd : CIBC cuts target price to C$1.85 from C$1.90 citing production cuts and weak currency.

* Rainy River Resources Ltd : CIBC cuts price target to C$3.83 from C$7.25 to reflect the expectation that the shareholders will accept New Gold Inc's offer to take over the company.

* Utilities, pipelines and power: Canaccord Genuity raises Enbridge Inc Northland Power Inc and to buy from hold, sees a significant cushion for the shares should long-term bond yields continue to rise.

On the Calendar

* Major Canadian economic data includes building permits

* Major U.S. events and data includes international trade, redbook and IDB consumer confidence

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below