June 19, 2013 / 12:42 PM / 4 years ago

CANADA STOCKS-TSX may open lower, Fed statement in-focus

June 19 (Reuters) - Canada’s main stock index looked set to open lower on Wednesday as investors turned jittery ahead of the release of the Federal Reserve’s policy statement later in the day.

TOP STORIES

* Federal Reserve policymakers will likely announce that they will keep buying bonds at a monthly pace of $85 billion, while keeping their options open to scale back the program later this year if the U.S. labor market continues to improve.

* Japan’s exports rose in May at the fastest annual rate in more than two years with the help of a weak yen and a moderate pick-up in global demand, boding well for the government’s efforts to steer the economy through market turbulence.

* Japan’s SoftBank Corp cleared a major hurdle in its attempt to buy wireless provider Sprint Nextel Corp, as rival bidder Dish Network Corp declined to make a new offer after SoftBank sweetened its own bid last week.

* Fairfax Financial Holdings will raise its stake in Greek real estate firm Eurobank Properties to 42 percent from 19, parent Eurobank said.

* Vodafone is discussing a bid of about $10 billion with Germany’s No. 1 cable operator Kabel Deutschland and is confident its raised all-cash offer and absence of antitrust issues put it in a better position than rival Liberty Global, two sources familiar with its thinking said on Wednesday.

MARKET SNAPSHOT

* Canada stock futures traded down 0.2 percent

* U.S. stock futures , , were mixed around -0.03 percent to 0.13 percent

* European shares, were down

COMMODITY PRICE MOVES

* Thomson Reuters-Jefferies CRB Index : 287.5301; rose 0.2 percent

* Gold futures : $1,371.8; rose 0.38 percent

* US crude : $98.62; rose 0.18 percent

* Brent crude : $106.35; rose 0.31 percent

* LME 3-month copper : $7,007.75; rose 0.04 percent

ANALYSTS’ RECOMMENDATIONS

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

* Coastal Energy Co : CIBC cuts target price to C$20 from C$24.50, says although material growth is expected, a rebound isn’t seen until the production rates have been achieved.

ON THE CALENDAR

* Major Canadian economic data includes wholesale trade

* Major U.S. events and data includes FOMC rate decision

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