September 26, 2013 / 12:26 PM / 4 years ago

CANADA STOCKS-TSX may open higher, eye on U.S. debt talks, BlackBerry

Sept 26 (Reuters) - Canadian stock index futures inched higher on Thursday with investors cautious about the outcome of the U.S. government’s debt ceiling talks.

Shares of BlackBerry were expected to be in focus after falling on Wednesday on doubts about a $4.7 billion bid to take the smartphone maker private.

TOP STORIES

* Barclays Plc will stop offering wealth management services in about 130 countries by 2016 and cut jobs in the unit as part of an effort to rein in costs and boost profit.

* JPMorgan Chase & Co is in talks with government officials to settle federal and state mortgage probes for $11 billion, two people familiar with the matter said on Wednesday.

* Germany’s biggest bathroom fittings company Grohe has been snapped up by Japanese building products group Lixil in a 3.06 billion euro deal, marking the largest ever investment by Japan in Europe’s biggest economy.

* Chile’s Supreme Court on Wednesday confirmed a freeze on Barrick Gold Corp’s suspended Pascua-Lama gold mine but the Toronto-based miner escaped having the project’s environmental permit revoked.

MARKET SNAPSHOT

* Canada stock futures traded up 0.07 percent

* U.S. stock futures , , were up around 0.16 percent to 0.58 percent

* European shares, were down

COMMODITY PRICE MOVES

* Thomson Reuters-Jefferies CRB Index : 287.0959; rose 0.23 percent

* Gold futures : $1,338.3; rose 0.18 percent

* US crude : $103.1; rose 0.43 percent

* Brent crude : $109; rose 0.63 percent

* LME 3-month copper : $7,247; rose 0.69 percent

CANADIAN STOCKS TO WATCH

* Bear Creek Mining Corp : The company has secured environmental approvals for its Corani mine in Peru, but development of the large silver project will likely remain on hold for now, the head of the miner said on Wednesday.

ANALYSTS’ RECOMMENDATIONS

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

* AGF Management Ltd : National Bank Financial raises rating to outperform from sector perform, expects a re-rating for the company’s shares as it trades at a discount to its historical average and to peers, which reflects heavy net redemptions in recent years.

* CN Railway Co : BMO raises price target to C$119 from C$115, expect the company’s revenue growth rate to accelerate to over 8 percent in 2014 and earnings per share growth to be in the mid-to-high teens including the contribution from share repurchase programs.

* Largo Resources Ltd : RBC starts with sector perform rating, says the company’s Maracas vanadium project in Brazil has the potential to be a world-class, low-cost long-life operation.

ON THE CALENDAR

* No major Canadian economic data scheduled for the day

* Major U.S. events and data includes Initial and continuing claims, real GDP, pending home sales and building permits

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