September 20, 2013 / 12:21 PM / 4 years ago

CANADA STOCKS-TSX may open lower as investors take a breather

Sept 20 (Reuters) - Canadian stock index futures pointed to a slightly lower open on Friday as markets took a breather after this week's rally following U.S. Federal Reserve's surprise decision to leaving its bond-buying program intact.

TOP STORIES

* State-backed Royal Bank of Scotland said it raised 630 million pounds by selling a 20 percent stake in Direct Line, the latest stage in an EU-ordered disposal of Britain's biggest motor insurer.

* British estate agent Foxtons enjoyed a strong share market debut with early trading giving the firm a market value of over 788 million pounds, despite some concerns that its core property market is overheating.

* Cybersecurity company FireEye Inc priced its initial public offering of about 15.2 million shares at $20 per share, above its proposed price range.

* Reserve Bank of India Governor Raghuram Rajan surprised markets in his maiden policy review on Friday by raising interest rates to ward off rising inflation, while scaling back some of the emergency measures put in place to support the ailing rupee.

MARKET SNAPSHOT

* Canada stock futures traded down 0.03 percent

* U.S. stock futures , , were mixed around -0.7 percent to 0.1 percent

* European shares, were down

COMMODITY PRICE MOVES

* Thomson Reuters-Jefferies CRB Index : 290.0322; fell 0.36 percent

* Gold futures : $1,369.4; were unchanged

* US crude : $105.63; fell 0.71 percent

* Brent crude : $108.93; rose 0.16 percent

* LME 3-month copper : $7,300; fell 0.48 percent

CANADIAN STOCKS TO WATCH

* HudBay Minerals : The Canadian miner hopes to buy at least one greenfield project in the next year and expects to boost annual copper output nearly fivefold by 2016, the company's CEO told Reuters on Thursday.

ANALYSTS' RECOMMENDATIONS

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

* Semafo Inc : NBF raises target price to C$3.30 from C$2.50, believes management's shift to free cash flow by advancing development on the higher grade Siou and Fofina deposits near present infrastructure should help in the weaker gold price environment.

* Trinidad Drilling Ltd : RBC raises target price to C$12 from C$11, continue to see the company as a prime candidate to win market share as new build contracts are awarded in Canada and the United States.

ON THE CALENDAR

* Major Canadian economic data includes CPI

* Major U.S. events and data includes ECRI weekly index

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