Nov 27 (Reuters) - Canada’s main stock index pointed to a higher open on Wednesday, supported by a deal to form a new coalition in Germany and after the European Central Bank opened talks to help struggling firms.
* Chancellor Angela Merkel’s conservatives and the centre-left Social Democrats clinched a coalition deal early that puts Germany on track to have a new government by Christmas.
* Teck Resources Ltd, Newmont Mining Corp, private equity firm Blackstone Group LP and a firm led by the former head of Barrick Gold are working together on a bid for Glencore Xstrata’s Las Bambas copper mine in Peru, according to several people familiar with the matter.
* Sears Canada Inc is laying off nearly 800 employees as it overhauls its repair services and parts businesses and makes further staffing cuts at its head office, the department store chain said on Tuesday.MARKET SNAPSHOT
* Canada stock futures traded up 0.4 percent
* U.S. stock futures , , were up around 0.06 percent to 0.17 percent
* European shares, were up COMMODITY PRICE MOVES
* Thomson Reuters-Jefferies CRB Index : 274.8621; fell 0.17 percent
* Gold futures : $1,248.8; rose 0.6 percent
* US crude : $92.59; fell 1.16 percent
* Brent crude : $111.21; rose 0.3 percent
* LME 3-month copper : $7,065; was flat ANALYSTS’ RECOMMENDATIONS
Following is a summary of research actions on Canadian companies reported by Reuters.
* Alimentation Couche-Tard : CIBC raises price target to C$83 from C$63 following the company’s strong quarterly results
* Chorus Aviation Inc : CIBC raises price target to C$3.75 from C$3 as the company is committed to maintaining its yearly dividend
* Turquoise Hill Resources Ltd : CIBC cuts price target to $4.85 from $5.50 to reflect the greater-than-expected dilutive impact of its deal ON THE CALENDAR
* No major Canadian economic data scheduled for the day
* Major U.S. events and data includes initial, continuing claims, Chicago PMI and durable goods