June 12, 2013 / 12:59 PM / in 5 years

CANADA STOCKS-TSX may open higher, stimulus fears still weigh

June 12 (Reuters) - Canadian stocks looked set to open higher on Wednesday after the previous session’s sell off, though gains could be capped by fears that major central banks might begin to wind down their monetary easing policies.

TOP STORIES

* MSCI, the most widely used equity index provider, prompted market fears about both Greece and Egypt, after demoting the former and then raising concerns about getting money out of the latter.

* Industrial output from euro zone factories defied market expectations of a month-on-month decline and rose in April, data showed, but the pace of expansion was slowed by a drop in production of energy and durable consumer goods.

* Vodafone said it had made an approach to buy Germany’s biggest cable company Kabel Deutschland in what could be its largest deal since 2007 and mark a departure from its roots as a pure mobile operator.

* Oil sands developer Cenovus Energy Inc said on Tuesday that Surge Energy Inc will pay C$240 million for its properties in the Shaunavon tight oil field in Saskatchewan.

* Three of the largest U.S. Internet companies called on the U.S. government to provide greater transparency on national security requests on Tuesday, as they sought to distance themselves from reports that portrayed the companies as willing partners in supplying mass user data to security agencies.

MARKET SNAPSHOT

* Canada stock futures traded up 0.6 percent

* U.S. stock futures , , were up around 0.45 percent to 0.52 percent

* European shares, were up

COMMODITY PRICE MOVES

* Thomson Reuters-Jefferies CRB Index : 285.5341; was unchanged

* Gold futures : $1376; fell 0.07 percent

* US crude : $95.36; fell 0.02 percent

* Brent crude : $102.97; rose 0.01 percent

* LME 3-month copper : $7122.75; rose 0.82 percent

CANADIAN STOCKS TO WATCH

* Bombardier Inc. The company anticipates bidding on all six of the new Mexican passenger rail projects it expects to be tendered later this year, its Mexico chief, Alfredo Nolasco said on Tuesday.

* Canadian Imperial Bank of Commerce : The bank said on Tuesday it had named Richard Nesbitt COO, raising speculation he will be the eventual successor to CEO Gerry McCaughey.

ANALYSTS’ RECOMMENDATIONS

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

* Catamaran Corp : Stonecap Securities raises target price to $68 from $63, reflecting revised FY2014 adjusted earnings per share estimates.

* Rio Alto Mining Ltd : Stonecap Securities raises rating to outperform from sector perform, believes that the recent share price weakness represents an attractive entry point for investors.

* Surge Energy Inc : Raymond James Raises price target to C$6.50 from C$6, says the acquisition of a southwest Saskatchewan Shaunavon asset and its conversion to the yield plus growth model is sustainable and is consistent with previous expectations.

* Westjet Airlines Ltd : CIBC raises rating to sector outperformer from sector performer citing a compelling growth story, given its valuation.

ON THE CALENDAR

* No major Canadian economic data are scheduled

* Major U.S. events and data includes federal budget

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