October 18, 2013 / 12:48 PM / 7 years ago

CANADA STOCKS-TSX may open higher on Chinese data boost

Oct 18 (Reuters) - Canadian stock index futures pointed to a higher open on Friday on expectations the Federal Reserve will maintain its stimulus program for longer and after Chinese GDP data showed the economy grew at its fastest pace this year.


* China’s economy grew at its quickest pace this year between July and September, underpinned by investment, although analysts question if the vigor would continue in coming months.

* General Electric Co said third-quarter profit and revenue fell, mainly due to its shrinking finance business and the negative effects of foreign currency.

* Schlumberger Ltd, the world’s largest oilfield services company, reported a better-than-expected 20 percent rise in quarterly profit as offshore drilling increased in North America and demand from the Middle East and Asia rose.

* Morgan Stanley reported a 50 percent rise in quarterly revenue as higher income from equities sales and trading made up for a drop in its fixed-income business.

* Google Inc’s quarterly results beat Wall Street’s expectations as the Internet search giant expanded its mobile and overseas businesses while keeping ad-rate declines in check.


* Canada stock futures traded up 0.17 percent

* U.S. stock futures , , were up around 0.13 percent to 0.51 percent

* European shares, were up


* Thomson Reuters-Jefferies CRB Index : 288.3493; rose 0.48 percent

* Gold futures : $1,317; fell 0.43 percent

* US crude : $101.46; rose 0.78 percent

* Brent crude : $110.03; rose 0.84 percent

* LME 3-month copper : $7,269.65; rose 0.55 percent


* TransCanada Corp : The company resumed gas deliveries to most industrial customers late on Thursday after an earlier pipeline rupture in northern Alberta left some Canadian oil producers scrambling to scale back production.


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

* Methanex Corp : CIBC raises price target of its U.S.-listed shares to $36 from $35 to reflect slightly higher methanol prices near term.

* Sierra Wireless : Raymond James raises target price of its U.S. listed shares to $20 from $14, says selling its modem business has clearly unlocked significant value.

* Transcontinental Inc : National Bank Financial raises price target to C$17.50 from C$16 following the better than expected third-quarter results and the company’s presentation at an investor conference.


* Major Canadian economic data includes CPI

* Major U.S. events and data includes ECRI weekly

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