July 8, 2013 / 12:46 PM / in 4 years

CANADA STOCKS-TSX may open higher, gold prices support

July 8 (Reuters) - Canada’s main stock index looked set to reverse the previous session’s losses on Monday, helped higher by a rebound in gold prices.

TOP STORIES

* The euro zone must decide on Monday how to keep Greece on a lifeline but is divided over whether to delay aid payments to Athens to force through unpopular reforms ranging from sacking public workers to selling state assets.

* The European Central Bank cannot solve the euro zone crisis, Bundesbank chief Jens Weidmann told economists on Sunday, pressing the bloc’s governments to get their economies in shape and tighten their fiscal rules.

* German exports fell the most since late 2009 in May and industrial output tumbled, suggesting Europe’s largest economy is struggling to regain traction, although a rise in imports pointed to robust domestic demand.

* Aircraft and automobile makers may be using more aluminum, but as long as the metal’s price remains near two-year lows, Alcoa Inc will struggle, analysts said on Friday.

* The first fatal crash of a Boeing 777 jetliner on Saturday may not pose much of a setback to the company, in part because design features of the plane helped prevent burning and break-up that could have led to greater loss of life, experts said.

MARKET SNAPSHOT

* Canada stock futures traded up 0.38 percent

* U.S. stock futures , , were up around 0.42 percent and 0.73 percent

* European shares, were up

COMMODITY PRICE MOVES

* Thomson Reuters-Jefferies CRB Index : 281.5381; rose 0.1 percent

* Gold futures : $1232.9; rose 1.65 percent

* US crude : $102.84; fell 0.37 percent

* Brent crude : $107.16; fell 0.52 percent

* LME 3-month copper : $6780.5; fell 0.13 percent

CANADIAN STOCKS TO WATCH

* Iamgold Corp : Rosebel Gold Mine, the joint venture between Suriname’s government and Iamgold, says its net profit rose 7.6 percent last year to $210.9 million.

* Thomson Reuters Corp : The news and information company said it would suspend its early provision to a small group of clients of the widely watched Thomson Reuters/University of Michigan consumer sentiment data at the request of the New York Attorney General.

ANALYSTS’ RECOMMENDATIONS

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

* Canadian National Railway Co : Canaccord ups target price to C$103 from C$102, expects better earnings in the second quarter of FY13 as the company’s operations have rebounded strongly and volumes remain good.

* Loblaw Cos : NBF resumes coverage with outperform on expectation of future improvement in the company’s core retail operations.

ON THE CALENDAR

* Major Canadian economic data include building permits

* Major U.S. events and data include consumer credit

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