July 16, 2013 / 12:32 PM / 4 years ago

CANADA STOCKS-TSX may open higher; Bernanke's testimony eyed

3 Min Read

July 16 (Reuters) - Canada's main stock index looked set to open higher on Tuesday as investors awaited U.S. Federal Reserve Chairman Ben Bernanke's testimony to Congress on Wednesday.

Top Stories

* German analyst and investor sentiment unexpectedly worsened in July, reflecting economic tensions in the euro zone and a global slowdown that is hitting exports, a survey showed.

* Mosaic reported lower quarterly profit as phosphate and potash prices slipped.

* Goldman Sachs Group Inc's quarterly profit doubled as the bank made more money trading bonds before an interest-rate spike hit markets in June.

* Coca-Cola Co said its quarterly profit fell due to ongoing economic malaise and unusually poor weather.

Market Snapshot

* Canada stock futures traded up 0.38 percent

* U.S. stock futures , , were mixed around -0.08 percent and 0.07 percent

* European shares, were down

Commodity Price Moves

* Thomson Reuters-Jefferies CRB Index : 288.9169; rose 0.55 percent

* Gold futures : $1,283.2; rose 0.13 percent

* US crude : $107.05; rose 0.69 percent

* Brent crude : $109.5; rose 0.38 percent

* LME 3-month copper : $6,972; rose 0.8 percent

Analysts' Recommendations

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

* Loblaw Companies : CIBC raises target to C$53 from C$48, says the company is just getting its core business under control before heading into a more competitive second half.

* Mercer International Inc : RBC cuts to sector perform from outperform, sees limited momentum in global pulp markets and few catalysts for the company's shares over the next 12 months.

* Tembec : RBC cuts to sector perform from outperform on rising concerns with the company's increased debt.

* WiLan Inc : Canaccord Genuity cuts target price to C$6.60 from C$7 as the company received a negative judgment in its 3GPP trial with Alcatel Lucent, Ericsson, HTC and Sony.

On the Calendar

* Major Canadian economic data includes manufacturing sales

* Major U.S. events and data includes CPI, industrial output, manufacturing output, Redbook and net capital inflows

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