June 19, 2012 / 1:05 PM / in 5 years

CANADA STOCKS-TSX may open higher on Fed stimulus hopes

June 19 (Reuters) - Toronto’s main stock index looked set to open higher on Tuesday as investors awaited signs from a two-day Federal Reserve policy meeting that the U.S. central bank was ready to provide further support for Canada’s largest trading partner.

TOP STORIES

* U.S. Treasury prices were broadly steady on Tuesday as investors looked to a two-day Federal Reserve meeting starting later in the day for signs that the U.S. central bank will provide further support to the world’s largest economy. 

* Spain’s short-term borrowing costs rose to their highest level since 1997 in a debt sale as investors worried the country will soon be forced to ask for international aid.

* German analyst and investor sentiment fell in June at its fastest rate since October 1998, with the worsening of Spanish banking sector and uncertainty over Greek election outcome likely to blame for the drop, a survey showed.

* Greece’s conservatives said they are poised to form a coalition government with the Socialists, allowing the two parties that dominated politics for decades to share power despite a major anti-establishment election vote.

* Sierra Leone has ratified an agreement for Talisman Energy to explore for oil after the firm took over a majority stake in an offshore block, an energy official in the country said.

MARKET SNAPSHOT

* Canada stock futures traded up 0.09 percent

* U.S. stock futures , , were up around 0.2 percent

* European shares, were up

COMMODITY PRICE MOVES

* Thomson Reuters-Jeffries CRB Index : 274.04; was up 0.15 percent

* Gold Futures : $1630.2; rose 0.28 percent

* US Crude : $83.49; rose 0.28 percent

* Brent Crude : $95.9; rose 0.15 percent

* LME 3-month Copper : $7529.75; rose 0.31 percent

CANADIAN STOCKS TO WATCH

* Enbridge Inc. : The pipeline company expects to complete an expansion of its newly reversed oil pipeline to Texas refineries by the end of this year, the company’s incoming chief executive said on Monday. That would be sooner than previous forecasts used by the company and its U.S. partner.

ANALYST RECOMMENDATIONS

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

* Capstone Mining : CIBC cuts price target to C$6.20 from C$6.50 as company’s new plans for its Minto mines include higher capital expenditure, operating costs

* Celestica : Deutsche Bank cuts price target on its U.S. listed shares to $8 from $9 and Canaccord Genuity cuts target to $10.25 from $10.50, after company said it will wind down its manufacturing business for Research in Motion (RIM)

* Norbord Inc : Salman Partners raises to buy rating on improved commodity outlook and company’s recently completed debt financing

ON THE CALENDAR

* Major Canadian economic data includes wholesale trade .

* Major U.S. events and data includes Redbook retail sales and housing starts.

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