December 3, 2013 / 1:32 PM / 4 years ago

CANADA STOCKS-TSX may open lower on rising concerns of Fed stimulus

4 Min Read

Dec 3 (Reuters) - Canada's main stock index pointed to a lower open on Tuesday as upbeat U.S economic data heightened worries the Federal Reserve will soon scale back its monetary stimulus. TOP STORIES

* Euro zone producer prices fell more than expected in October, data showed, with the annual inflation rate at a nearly 4-year low in a fresh sign of a sharp fall in inflationary pressures.

* Growth in China's services sector held near one-year highs in November, another indicator of strength as the government prepares to introduce sweeping reforms to restructure the world's second-largest economy.

* Japan will craft an economic stimulus package this week worth about $53 billion to bolster the economy ahead of an increase in the national sales tax in April, people familiar with the process said.

* Potash Corp of Saskatchewan Inc said it would cut more than 1,000 jobs, or 18 percent of its workforce in Canada, the United States and Trinidad.MARKET SNAPSHOT

* Canada stock futures traded down 0.23 percent

* U.S. stock futures , , were down around 0.26 percent to 0.14 percent

* European shares, were down COMMODITY PRICE MOVES

* Thomson Reuters-Jefferies CRB Index : 275.1312; fell 0.07 percent

* Gold futures : $1,223.4; rose 0.09 percent

* US crude : $93.9; rose 0.09 percent

* Brent crude : $111.14; fell 0.28 percent

* LME 3-month copper : $6,952; fell 0.33 percent CANADIAN STOCKS TO WATCH

* Semafo : The Canada-based miner has closed the $1.25 million sale of its 80 percent stake in Societe des Mines du Liptako, owner of the Samira Hill mine in Niger, to Societe de Patrimoine des Mines du Niger, it said late on Monday.

* TransCanada Corp The company on Monday said there was currently no operating issue with its 590,000-barrel-per-day Keystone XL crude oil pipeline system. ANALYSTS' RECOMMENDATIONS

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

* Aurcana Corp : RBC cuts rating to underperform from sector perform, says the company's share price is likely to underperform relative to its silver peers given the ongoing ramp-up

* Canadian Natural Resources Ltd : Raymond James resumes coverage with market perform rating and price target of C$38, says the company's shares are fairly valued at the current price and would suggest waiting for a more attractive entry point

* Enerplus Corp : CIBC raises target price to C$22 from C$21 as it announced its FY2014 guidance

* Imperial Oil Ltd : Raymond James resumes coverage with market perform rating and price target of C$50, believes the potential in the company's share price over the next year will likely be limited due to diminishing returns on capital relative to the company's historical average and a near-term free cash flow profile

* Suncor Energy Inc : Raymond James resumes with outperform rating, says the company is successfully transitioning into a premier growth and income model, which analyst suspect will continue to be well received by investors ON THE CALENDAR

* No major Canadian economic data scheduled for the day

* Major U.S. events and data includes consumer confidence and domestic vehicle sales

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