March 4 (Reuters) - Canadian stock index futures pointed to a higher open on Tuesday as Russian President Vladimir Putin ordered troops in military exercises on the border with Ukraine to return to their bases, calming worries over a possible war in the region.
* President Vladimir Putin said that Russia saw no need to use military force in the Crimea region of Ukraine for now, easing East-West tension over fears of war in the former Soviet republic. [ID: nL6N0M10DO]
* A steep fall in energy costs brought down euro zone producer prices faster than expected in January, data showed on Tuesday, underlining deflationary risks ahead of a European Central Bank policy meeting.
* Bank of Nova Scotia reported a 6 percent rise in quarterly profit on the back of recent acquisitions and higher lending volumes, and hiked its quarterly dividend.
* Autozone Inc reported a 9.4 percent increase in second-quarter profit as an unseasonably cold winter drove up sales.
* Canada stock futures traded up 0.37 percent
* U.S. stock futures , , were up more than 1 percent
* European shares, were up
* Thomson Reuters-Jefferies CRB Index : 305.0202; fell 0.49 percent
* Gold futures : $1,333.3; fell 1.24 percent
* US crude : $103.78; fell 1.09 percent
* Brent crude : $109.67; fell 1.38 percent
* LME 3-month copper : $6,996; rose 0.4 percent
* Enbridge Inc : The pipeline company said it would undertake a C$7 billion replacement program in the mainline system running between Edmonton and Superior, Wisconsin.
* TMX Group Ltd : Santiago will host a new exchange designed to raise capital for early-stage businesses in the mining sector, joint venture partners the Santiago Stock Exchange and Canada exchange operator TMX Group Ltd said on Monday.
Following is a summary of research actions on Canadian companies reported by Reuters.
* Artis Real Estate Investment Trust : CIBC raises price target to C$17 from C$16.50 based on the company’s largely in-line fourth-quarter results
* Magna International Inc : CIBC raises target price to $110 from $100 citing the company’s strong fourth-quarter results
* Major Drilling Group International Inc : CIBC raises target price to C$9.50 from C$8.50 considering that the company reported an increase in inquiries from gold customers which could result in higher activity levels in the second half of 2014
* Teranga Gold Corp : CIBC raises target price to C$1.50 from C$1.30 on the company’s new combined mine plan which is expected to generate higher average production
* No major Canadian economic data scheduled for release
* No major U.S. events and data scheduled for release