March 15, 2013 / 12:22 PM / in 5 years

CANADA STOCKS-TSX may open higher on global recovery hopes

March 15 (Reuters) - Toronto’s main stock index looked set to open slightly higher before a spate of U.S. data that could bolster hopes of continuing growth in the world’s largest economy.

TOP STORIES

* In a blow to two major Wall Street banks, the Federal Reserve told Goldman Sachs Group Inc and JPMorgan Chase & Co that they must fix flaws in how they determine capital payouts to shareholders, but still approved their plans for share buybacks and dividends.

* Samsung Electronics Co premiered its latest flagship phone, the Galaxy S4, which sports a bigger display and unconventional features such as gesture controls, as the South Korean titan challenges Apple on its home turf.

* International Business Machines Corp and EMC Corp are among parties in talks to buy privately held database web hosting company SoftLayer Technologies Inc, in a deal that could fetch over $2 billion, three sources close to the matter said.

* Japan’s parliament approved Haruhiko Kuroda as the next governor of the Bank of Japan, paving the way for more vigorous monetary stimulus sought by Prime Minister Shinzo Abe as part of

his economic revival plan.

* A cooling of food price pressures in February brought euro zone inflation to its lowest level since mid-2010 and modest wage growth in late 2012 added to signs that the European Central Bank has room for an interest rate cut.

MARKET SNAPSHOT

* Canada stock futures traded up 0.14 percent

* U.S. stock futures , , were mixed in the range of 0.09 percent and -0.05 percent

* European shares, were down

COMMODITY PRICE MOVES

* Thomson Reuters-Jefferies CRB Index : 298.0997; rose 0.45 percent

* Gold futures : $1,591.2; rose 0.04 percent

* US crude : $93.6; rose 0.61 percent

* Brent crude : $110.12; rose 1.06 percent

* LME 3-month copper : $7,824.5; rose 0.31 percent

CANADIAN STOCKS TO WATCH

Fairfax Holdings : Greece’s National Bank said on Friday Fairfax Holdings’ interest in taking part in its recapitalisation had stalled because the Canadian investment fund wanted certain changes to the terms that were beyond NBG’s control.

ANALYSTS’ RECOMMENDATIONS

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

* Advantage Oil & Gas : CIBC ups target to C$4 from C$3.75 on the company’s development plan to increase production at Glacier

* Ag Growth International Inc : CIBC cuts target to C$33 from C$36 on a lowered earnings estimate after the company posted below-consensus fourth-quarter results

* Petrominerales Ltd : RBC cuts target price to C$9 from C$12 on valuation following results and reserves update

* Smart Technologies : CIBC cuts target to $4.50 from $5 on lowered earnings estimates due to weakness in its education markets

* Transat AT : CIBC cuts target to C$5.25 from C$6.25 on bearish outlook, says the company faces significant competition and cost disadvantage relative to the scheduled carriers

ON THE CALENDAR

* No major Canadian economic data scheduled for release

* Major U.S. events and data includes manufacturing, inflation, real earnings and Thomson Reuters UMich preliminary consumer sentiment index

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