April 20, 2012 / 1:07 PM / 7 years ago

CANADA STOCKS-TSX may open higher on German Ifo survey

April 20 (Reuters) - Toronto’s main stock index pointed to a higher open on Friday, tracking U.S. and European counterparts, after the influential German Ifo survey showed a surprise improvement in German business sentiment.


* Major emerging powers stood ready to pledge money to bolster the International Monetary Fund’s crisis-fighting war chest, though Brazil was holding out for promises that their voting power at the global lender would increase.

* German business sentiment unexpectedly rose for the sixth month in a row in April in a sign that Europe’s largest economy continues to outpace peers and shrug off persistent worries about the euro zone debt crisis.

* Canadian Pacific Railway Ltd, which is fighting a proxy battle with its biggest shareholder, said that first-quarter profits more than quadrupled and that a key efficiency measure strengthened.

* General Electric Co reported first-quarter profit that topped analysts’ expectations, helped by strong sales of jet engines and energy equipment, as well as profit growth at its finance arm.

* Encana Corp said Japan’s Toyota Tsusho Corp will buy a royalty interest in its southern Alberta natural gas field for C$602 million ($606.2 million) as depressed dry gas prices force the company to cut spending or look for partners.


* Canada stock futures traded up 0.30 percent

* U.S. stock futures , , were up around 0.35 percent

* European shares, were up


* Thomson Reuters-Jeffries CRB Index : 300.05; rose 0.25 percent

* Gold Futures : $1644.6; rose 0.24 percent

* US Crude : $102.91; rose 0.63 percent

* Brent Crude : $118.91; rose 0.77 percent

* LME 3-month Copper : $8081.25; rose 0.01 percent


* SNC-Lavalin Group : Candu Energy, a unit of SNC-Lavalin, is in talks with the Turkish government to build a nuclear power plant with a 3,000 megawatt installed capacity on the Black Sea coast, the company’s vice president told Reuters.

* Air Canada : The airline and its pilots’ body have agreed to a 10-day negotiation period to re-start talks which ended in a strike last week.

* TransCanada Corp. : The pipeline company has presented Nebraska officials with a report on alternative routes for the proposed $7 billion Keystone XL oil pipeline that would avoid ecologically sensitive areas, the state environment office said on Thursday.


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

* Birchcliff Energy : National Bank Financial resumes coverage with sector perform

* Valeura Energy Inc. : Jennings Capital cuts price target to C$8 from C$9


* Major Canadian economic data includes inflation and leading indicators

* Major U.S. data include ECRI weekly index

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