March 20, 2013 / 12:23 PM / 6 years ago

CANADA STOCKS-TSX may open higher, Fed meeting eyed

March 20 (Reuters) - Canadian main stock index futures
pointed to a higher open as investors shifted their focus from
Cyprus's financial woes to the U.S. Federal Reserve's policy
meeting, where the central bank is expected to sustain its $85
billion monthly bond-buying stimulus despite improving economic

   * Cyprus's finance minister pleaded with Russia for help to
avert a financial meltdown after the island's parliament
rejected the terms of a European bailout, raising the specter of
a looming default and bank crash. 
   * The Federal Reserve looks set to sustain its $85 billion
monthly bond-buying stimulus despite improving U.S. economic
data as a new flare-up in the euro zone crisis reminds officials
of a risky global environment. 
   * British Finance Minister George Osborne faces the daunting
task of delivering another austerity budget to a country
impatient with near-zero growth. 
   * Alamos Gold Inc dropped its offer to buy peer
Aurizon Mines Ltd, putting an end to its bidding war
with Hecla Mining Co. 
   * Freddie Mac, the U.S. mortgage finance company, is suing
more than a dozen banks for losses from the alleged manipulation
of the benchmark interest rate known as Libor.MARKET SNAPSHOT 
   * Canada stock futures traded up 0.44 percent
   * U.S. stock futures , , were up around
0.3 percent 
   * European shares, were up 
   * Thomson Reuters-Jefferies CRB Index : 294.5424;
rose 0.31 percent
   * Gold futures : $1,612.5; rose 0.07 percent 
   * US crude : $92.8; rose 0.69 percent 
   * Brent crude : $108.22; rose 0.72 percent 
   * LME 3-month copper : $7,594.5; rose 0.86 percent
   * Sprott Inc : Chinese gold miner Zijin Mining Group
Co Ltd said it had agreed to set up an offshore investment fund
with the company with a target size of $500 million. 

   Following is a summary of research actions on Canadian
companies reported by Reuters. 
   * Alimentation Couche-Tard Inc : National Bank
Financial cuts target price to C$58 from C$62 after the company
reported positive quarterly earnings 
   * Aurizon Mines Ltd : BMO cuts target price to C$4.50
from C$4.65, says Alamos Gold Inc's announcement to
drop its hostile bid for the company will have a slightly
negative impact 
   * Lake Shore Gold Corp : RBC cuts target price to C$1
from C$1.70 to reflect ongoing operational uncertainty and
execution risk associated with the company's Bell Creek Mine
expansion and operational issues at the Timmins West Mine
   * Tourmaline Oil Corp : RBC raises target price to
C$45 from C$40 as the company provided full-year 2012 financials
which were as expected, given the fact that it pre-announced
production with its year-end reserve report

   * No major Canadian economic data scheduled for release
   * Major U.S. events and data includes weekly mortgage market
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