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Feb 1 (Reuters) - Canadian stock futures pointed to a higher open on Tuesday as commodity prices rose and investors shifted their focus to upcoming U.S. economic data and corporate results.
* Canadian equity futures <0#SXF:> pointed to a higher open.
* U.S. stock index futures rose as investors turned their attention from geopolitical tremors in the Middle East to data they hope will provide insight into the state of the U.S. economic recovery. [.N]
* European shares rose on Tuesday as confidence about the economy gathered pace following upbeat euro zone manufacturing data while strong earnings from ARM ARM.L and Infineon (IFXGn.DE) lifted technology firms. [.EU]
* Markets in Asia mostly rose, with an exception to India's main stock index, which fell 1.7 percent to its lowest close since August. That extended the index's worst monthly slide in more than two years, as inflation worries and hardening interest rates unsettled investors.
* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, fell 0.15 percent in early trade.
* Oil hovered above $100 as the market assessed the risk of Egypt's social unrest spreading to neighboring oil producers, but stayed below yesterday's high of $101 on lower factory growth in China. [O/R]
* Gold rose in Europe as the dollar index hit a two-month low and political tensions in Egypt added risk premium to prices, while Asian demand for coins and bars after January's price drop contributed support. [GOL/]
* Copper hit a record high and tin also peaked, buoyed by positive economic data as well as supply concerns, and a weaker dollar also lent support. [MET/L]
* Cytiva Software CRX.V: Taleo Corp, provider of software to recruiting and workforce management firms, agreed to acquire the company for about C$11 million in cash, to broaden its customer base in North America. [ID:nSGE7100AH]
* Enbridge Inc. (ENB.TO): The pipeline company said on Monday it will spend C$150 million on an expansion of a Venice, Louisiana, processing plant to handle more natural-gas liquids. [ID:nN31249498]
* Imax Corp. IMX.TO: The big-screen movie company will transfer its U.S.-listed shares to the NYSE from the NASDAQ Stock Market, a win for the Big Board in the battle for high-profile listings. [ID:nN31248728]
* Wi-LAN WIN.TO: The company has reached settlements with six companies in a wireless patent dispute and expects to reach deals with six others involved in the case before the Feb. 2 trial date, the patent-licensing company said on Monday. [ID: nN31244295]
* Valeant Pharmaceuticals International Inc. (VRX.TO): The company has agreed to buy PharmaSwiss, a Swiss-based privately held branded generic drugs firm for 350 million euros. [ID:nSGE710032]
* MI Developments MIMa.TO: The company has reached definitive agreements that would end Canadian billionaire Frank Stronach's control of the company, it said in a statement on Monday. [ID: nN31260150]
* Absolute Software Corp (ABT.TO): The company which provides data protection services posted a narrower second-quarter loss, helped by increased commercial sales contracts. [ID: nSGE70P078]
Following is a summary of research actions on Canadian companies reported by Reuters. [RCH/CA]
* Air Canada ACa.TO price target cut to C$5 from C$5.50 by Citigroup;
* Cinch Energy CNH.TO price target cut to C$1.30 from C$1.50 at Raymond James
* MBAC Fertilizer Corp MBC.TO rating raised to buy from speculative buy at Canaccord Genuity
* Norbord Inc NBD.TO rating cut to market perform from outperform at Raymond James
* Pure Energy Services PSV.TO price target raised to C$10 from C$7.75 at Raymond James
* Western Energy Services Corp WRG.V price target raised to C$0.40 from C$0.35 at Raymond James
($1= $0.99 Canadian)
Reporting by Kishan Nair and Bangalore Newsroom