December 9, 2013 / 1:27 PM / 7 years ago

CANADA STOCKS-TSX may open lower, Fed caution offsets Chinese data

Dec 9 (Reuters) - Canadian stock index futures pointed to a lower open on Monday despite positive Chinese data, bucking the global market trend, as investors remained cautious about the potential timing of a scaling down of Federal Reserve stimulus.


* China’s exports handily beat forecasts in November, adding to recent evidence of a stabilisation in the world’s second-largest economy as its leaders embark on an ambitious restructuring plan.

* Germany’s trade surplus fell in October as firms’ and households’ increased appetite to spend saw import growth far outpace that of exports - a welcome move for struggling euro zone peers anxious to sell more to Europe’s largest economy.

* Eight U.S. web giants have joined hands to start a public campaign for new limits on how governments collect user information amid concerns of growing online surveillance.

* KKR & Co LP and Bain Capital are among suitors which have placed initial bids for Tyco International Inc’s South Korean security systems unit, a business valued at about $1.6 billion, people familiar with the matter said.


* Canada stock futures traded down 0.16 percent

* U.S. stock futures , , were up around 0.04-0.15 percent

* European shares, were up


* Thomson Reuters-Jefferies CRB Index : 279.90; rose 0.24 percent

* Gold futures : $1,230.7; rose 0.03 percent

* US crude : $97.71; rose 0.06 percent

* Brent crude : $111.03; fell 0.52 percent

* LME 3-month copper : $7,133.5; rose 0.16 percent


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

* ADF Group Inc : Raymond James Raises price target to C$4 from C$2.75 on the company’s better-than-expected third-quarter results

* Empire Co Ltd : Barclays cuts target price to C$84 from C$87 to reflect a more cautious earnings forecast

* MEG Energy Corp : Raymond James raises price target to C$42 from C$41, says the company is a compelling near and long-term growth story


* Major Canadian economic data includes housing starts

* No major U.S. events and data scheduled for the day

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