June 27, 2013 / 12:33 PM / 6 years ago

CANADA STOCKS-TSX may open higher as Fed stimulus fears ease

June 27 (Reuters) - Canadian stock index futures pointed to a higher open on Thursday after recent U.S. economic data eased concerns that the U.S. Federal Reserve will move quickly to withdraw monetary stimulus.


* German joblessness unexpectedly dropped in June and the unemployment rate remained close to its lowest level since reunification more than two decades ago, underscoring the strength of the domestic economy.

* Britain did not suffer a double-dip recession early last year as previously thought, but household living standards suffered their biggest drop in a generation at the start of 2013.

* Dish Network Corp has bowed out of the battle for mobile service provider Clearwire Corp, marking the second major blow in less than a week against Dish chairman and founder Charlie Ergen and his plan to expand into wireless.

* Aspen Pharmacare said that it would acquire drugs and a plant from Merck in a $1 billion deal that bolsters its presence in Europe, Latin America and Asia.

* Home goods chain Bed Bath & Beyond Inc missed Wall Street’s profit estimates in the first quarter as higher costs offset better-than-expected sales.


* Canada stock futures traded up 0.42 percent

* U.S. stock futures , , were up around 0.42 percent to 0.49 percent

* European shares, were up


* Thomson Reuters-Jefferies CRB Index : 277.46; rose 0.05 percent

* Gold futures : $1,234; rose 0.36 percent

* US crude : $95.76; rose 0.27 percent

* Brent crude : $102.12; rose 0.45 percent

* LME 3-month copper : $6,703.75; fell 0.46 percent


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

* Bombardier Inc : Raymond James cuts target price to C$5.50 from C$6 to reflect the company’s CSeries first flight target date delay and to broadly recognize the derivative risk it likely places on the CSeries entry-into-service timeline.

* Pan American Silver : Credit Suisse cuts target price to C$14.50 from C$20 due to lower silver price forecasts and the impact of potential impairment charges.

* Teck Resources : CIBC cuts target price to C$42 from C$46 against the backdrop of a weak steel price dynamic.


* No major Canadian economic data scheduled for the day

* Major U.S. events and data includes personal income and spending, initial claims, continuing claims and pending home sales data

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