January 28, 2014 / 1:17 PM / 6 years ago

CANADA STOCKS-TSX may open higher; Fed policy meet eyed

Jan 28 (Reuters) - Canada’s main stock index pointed to a higher open on Tuesday ahead of a U.S. central bank policy meeting to decide further stimulus cuts.


* Turkey’s central bank governor raised expectations for an emergency interest rate hike, denying he was hostage to political pressures and vowing decisive action to fight rising inflation and a tumbling lira.

* Lower-than-expected holiday iPhone sales and a weak revenue forecast by Apple renewed fears about Chinese demand and a tepid global market, wiping 8 percent off company stock.

* DuPont’s fourth-quarter profit doubled, driven by strong insecticide sales in Latin America and earlier seed shipments in North America, and the company announced a new $5 billion share buy-back program.

* Bank of Montreal has reached a deal to buy UK-based F&C Asset Management Plc for 708 million pounds just a day after first announcing an offer, saying the move would help expand its wealth management arm.

* Ford Motor Co posted a stronger-than-expected quarterly profit as higher earnings in the No. 2 U.S. automaker’s core North American market offset losses in Europe and South America.MARKET SNAPSHOT

* Canada stock futures traded up 0.45 percent

* U.S. stock futures , , were mixed around -0.36 percent to 0.34 percent

* European shares, were up COMMODITY PRICE MOVES

* Thomson Reuters-Jefferies CRB Index : 281.7211; rose 0.5 percent

* Gold futures : $1,263.6; was unchanged 0 percent

* US crude : $96.31; rose 0.62 percent

* Brent crude : $106.98; rose 0.27 percent

* LME 3-month copper : $7,187; rose 0.52 percent CANADIAN STOCKS TO WATCH

* First Quantum Minerals Ltd : The company’s Cobre Panama project in Central America should produce 20 percent more copper than previously planned, but production will start later than expected and development costs will be higher, the company said.

* TransCanada Corp : The company said on Monday there were “no issues” at present with its 590,000-barrel-per-day Keystone XL crude oil pipeline system. ANALYSTS’ RECOMMENDATIONS

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

* Contrans Group Inc : National Bank Financial raises price target to C$14.50 from C$13.50, expects the company to generate record EBITDA, sees strong performance in 2014 and further growth through M&A

* Transforce Inc : National Bank Financial raises price target to C$27 from C$24, says acquisitions of Clarke and Vitran, as well as ongoing synergies in both the LTL and P&C segments, will lead to solid earnings growth ON THE CALENDAR

* No major economic data scheduled for the day

* Major U.S. events and data includes durable goods, Richmond Fed manufacturing index and consumer confidence index

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