February 10, 2014 / 1:33 PM / 3 years ago

CANADA STOCKS-TSX may open lower after hitting two-week high Friday

2 Min Read

Feb 10 (Reuters) - Canadian stock index futures pointed to a lower open on Monday after hitting a two-week high on Friday in the wake of North American jobs data.

Top Stories

* An index measuring optimism among British businesses hit its highest for 22 years in January, providing more evidence of a rebound in the UK economy.

* Cameco on Friday scrapped its lofty production target for uranium due to excess global supply in an uncertain market.

* Loews Corp, controlled by the billionaire Tisch family, reported a bigger quarterly loss, hurt by impairment charges.

* Barclays Plc said its 2013 underlying earnings dropped by a quarter from the year before to 5.2 billion pounds, below expectations.

Market Snapshot

* Canada stock futures traded down 0.22 percent

* U.S. stock futures , , were down modestly

* European shares, were up

Commodity Price Moves

* Thomson Reuters-Jefferies CRB Index : 289.7936; fell 0.21 percent

* Gold futures : $1,273.4; rose 0.8 percent

* US crude : $99.52; fell 0.36 percent

* Brent crude : $109.35; fell 0.2 percent

* LME 3-month copper : $7,144; rose 0.04 percent

Canadian Stocks to Watch

* HudBay Minerals Inc : The company has offered to buy shares of Augusta Resource Corp it does not already own for C$2.96 per share in stock, to gain access to Augusta's Rosemont copper deposit in Arizona.

Analysts' Recommendations

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

* Dorel Industries Inc : CIBC cuts target price to C$39 from C$41 after the company announced earnings would be low, sees results strained through the forecast period

* Firstservice Corp : CIBC raises target price to C$50 from C$40 ahead of the company's results, sees increase in revenue and says global industry volumes increased 22 percent

* Gluskin Sheff + Associates Inc : CIBC raises target price to C$31.50 from C$24 based on strong investment performance and improving net flows

On the Calendar

* Major Canadian data includes housing starts

* No major economic events scheduled in the day

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