March 11, 2014 / 12:42 PM / in 4 years

CANADA STOCKS-TSX may open flat; Ukraine, China tensions weigh

March 11 (Reuters) - Canadian stock index futures pointed to a flat open on Tuesday on investor caution surrounding Ukraine and uncertainty about China’s economic future.

TOP STORIES

* World stocks held steady, the euro edged down and oil and gold nudged up on Tuesday as traders kept a wary eye on tensions between Ukraine and Russia and the pace of growth in China.

* The European Union will start preparing further responses to Russia’s actions in Ukraine if Moscow does not show signs of backing down by the weekend, Germany’s Foreign Minister said.

* Bank of England Governor Mark Carney signalled he was not concerned that Britain’s economy was close to overheating, despite a strong recovery since last year, putting himself in the dovish camp among policymakers.

* Malaysia’s military believes it tracked a missing jetliner by radar over the Strait of Malacca, far from where it last made contact with civilian air traffic control off the country’s east coast, a military source told Reuters.

MARKET SNAPSHOT

* Canada stock futures traded up 0.01 percent

* U.S. stock futures , , were down

* European shares, were mostly down

COMMODITY PRICE MOVES

* Thomson Reuters-Jefferies CRB Index : 307.1946; rose 0.17 percent

* Gold futures : $1,349.5; rose 0.6 percent

* US crude : $101.11; fell 0.01 percent

* Brent crude : $108.34; rose 0.24 percent

* LME 3-month copper : $6,682.75; rose 0.51 percent

ANALYSTS’ RECOMMENDATIONS

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

* AGF Management Ltd : CIBC raises target price to C$13 from C$12.50 based on the company’s first-quarter preview, sees it starting the year on a positive note

* Alimentation Couche Tard : National Bank Financial raises price target to C$90 from C$83, sees merchandising same store sales growth and comparable gas volume growth for the company.

* Crew Energy Inc : CIBC raises target price to C$9.50 from C$8.25 citing the company’s largely in-line fourth-quarter results and further derisking of its Tower Montney oil property

* Freehold Royalties Ltd : CIBC cuts target price to C$26 from C$26.50, says the company’s reserves are down, reflecting the natural decline of volumes from the royalty interest properties

* Paramount Resources Ltd : CIBC cuts target price to C$56 from C$56.50, says the company’s fourth-quarter production was softer than estimated

ON THE CALENDAR

* No major Canadian data scheduled for release

* Major U.S. data includes wholesale inventories and sales

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