November 25, 2013 / 1:22 PM / 4 years ago

CANADA STOCKS-TSX may open higher; Iran deal eases geopolitical tensions

3 Min Read

Nov 25 (Reuters) - Canada's main stock index pointed to a higher open on Monday after a nuclear deal between Iran and six world powers over the weekend eased worries about geopolitical tensions.

Top Stories

* President Barack Obama has pulled off a historic deal with Iran on curbing its nuclear program but he and other global leaders now have tough work ahead turning an interim accord into a comprehensive agreement.

* Tomkins Plc is exploring a sale that could value the private equity-owned global manufacturer of auto parts and building products at as much as $7 billion, several people familiar with the matter said on Friday.

* Chinese online game developer Giant Interactive Group Inc said it received a non-binding proposal from its chairman Yuzhu Shi and an affiliate of Baring Private Equity Asia to take the company private for $11.75 per American Depositary Share.

* Time Warner Inc moved another step closer to spinning off its magazine assets as Time Inc, the publisher of People, Fortune and the eponymous newsweekly Time, filed with regulators on Friday to list itself as a standalone company.

Market Snapshot

* Canada stock futures traded up 0.23 percent

* U.S. stock futures , , were up around 0.33 percent to 0.37 percent

* European shares, were up

Commodity Price Moves

* Thomson Reuters-Jefferies CRB Index : 274.4219; fell 0.49 percent

* Gold futures : $1,231.2; fell 1.03 percent

* US crude : $93.51; fell 1.4 percent

* Brent crude : $109.2; fell 1.67 percent

* LME 3-month copper : $7,076; fell 0.27 percent

Canadian Stocks to Watch

* Encana Corp : Five workers were injured after a fire and tank explosion at an Encana's natural gas field in western Wyoming on Friday, officials said.

Analysts' Recommendations

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

* Parex Resources Inc : RBC raises rating to outperform from sector perform following the release of cash flow funded, 2014 capital plan that should deliver further production and reserves growth.

* Pretium Resources Inc : CIBC raises to sector outperformer from sector performer, believe the positive bulk sample data point represents a significant de-risking milestone for the company.

* Richmont Mines Inc : CIBC cuts price target to C$1.75 from C$2 as it reported lower-than-expected Q3 gold production.

On the Calendar

* No Major Canadian economic data scheduled for the day

* Major U.S. events and data includes pending home sales and Dallas Fed manufacturing index

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