November 14, 2013 / 1:22 PM / 4 years ago

CANADA STOCKS-TSX may open higher, Yellen's comments support

3 Min Read

Nov 14 (Reuters) - Canada's main stock index futures pointed to a higher open on Thursday on Janet Yellen's dovish comments that supported the Federal Reserve's quantitative easing policy, ahead of a crucial nomination hearing later in the day.

Top Stories

* The euro zone economy all but stagnated in the third quarter with France's recovery fizzling out and slower expansion in Germany.

* Janet Yellen, President Barack Obama's nominee to lead the U.S. Federal Reserve, will offer a stout defense on Thursday of the central bank's aggressive monetary easing before a Senate panel that includes some tough Republican critics.

* Wal-Mart Stores Inc reported lower-than-expected quarterly sales, hurt by an unexpected decline in U.S. comparable sales and what the company called a competitive retail environment.

* Kinross Gold Corp reported a sharp fall in third-quarter earnings on the back of a lower gold price.

Market Snapshot

* Canada stock futures traded up 0.1 percent

* U.S. stock futures , , were mixed around -0.29 to 0.27 percent

* European shares, were up

Commodity Price Moves

* Thomson Reuters-Jefferies CRB Index : 273.6566; fell 0.14 percent

* Gold futures : $1,278.1; rose 0.77 percent

* US crude : $93.62; fell 0.28 percent

* Brent crude : $107.83; rose 0.66 percent

* LME 3-month copper : $6,952; fell 0.4 percent ANALYSTS' RECOMMENDATIONS

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

* Ag Growth International Inc : National Bank Financial ups to outperform from sector perform, raises target to C$40 from C$38.50 after the company posted strong third-quarter revenue figures, expects near-term positive U.S. and international demand momentum

* Computer Modelling Group Ltd : NBF raises target to C$27 fro C$25 on revised long-term growth assumptions

* Linamar Corp : Canaccord Genuity raises target to C$43 from C$39 after the company's third-quarter earnings beat expectations

* Semafo Inc : National Bank Financial raises target to C$3.80 from C$3.30, expects higher grades grades coming into the mine plan sooner as its Siou and Fofina deposits come into development six months ahead of schedule

* Thompson Creek Metals Co Inc : Canaccord Genuity cuts target to C$1.50 from C$2.60 citing the company's third-quarter results and to reflect no growth forecast beyond Mt. Milligan

On the Calendar

* Major Canadian economic data includes trade and new housing data

* Major U.S. events and data includes trade, initial claims and unit labor costs data

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