November 1, 2013 / 12:32 PM / 4 years ago

CANADA STOCKS-TSX may open higher; Chinese and UK data support

Nov 1 (Reuters) - Canadian stock index futures pointed to a higher open on Friday after surveys showed an improvement in Chinese manufacturing activity and the fastest growth in UK export orders in more than two years.

TOP STORIES

* China’s giant manufacturing sector strengthened further in October, two surveys showed, though mixed signals in important areas including export orders suggest any recovery in the world’s second-largest economy will be gradual.

* The fastest growth in export orders in more than two years helped British manufacturing grow solidly last month, a survey showed, in a sign that the country’s economic recovery may be gaining a broader base.

* Exxon Mobil Corp, the world’s largest publicly traded oil company, reported higher-than-expected quarterly results on Thursday as output rose for the first time in more than two years, but refining weakness hurt earnings.

* American International Group Inc reported earnings nearly in line with expectations on Thursday, but the stock fell after hours as analysts still saw room for improvement in the insurer, which almost went under during the financial crisis.

MARKET SNAPSHOT

* Canada stock futures traded up 0.21 percent

* U.S. stock futures , , were up around 0.19 percent to 0.25 percent

* European shares, were down

COMMODITY PRICE MOVES

* Thomson Reuters-Jefferies CRB Index : 277.6606; fell 0.27 percent

* Gold futures : $1,315.5; fell 0.61 percent

* US crude : $96.09; fell 0.3 percent

* Brent crude : $108.2; fell 0.59 percent

* LME 3-month copper : $7,280; rose 0.43 percent

ANALYSTS’ RECOMMENDATIONS

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

* Alamos Gold Inc : CIBC raises price target to C$17 from C$16 following its third-quarter results, which came in-line with expectations.

* Bombardier Inc : CIBC cuts price target to C$5.75 from C$6.25 as the company’s third-quarter results came below expectations.

* Cogeco Cable Inc : CIBC raises price target to C$53 from C$51 as its fourth-quarter results were solid overall, with modest subscriber stats.

ON THE CALENDAR

* Major Canadian economic data includes manufacturing PMI

* Major U.S. events and data includes ISM manufacturing and domestic vehicle sales

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