August 13 (Reuters) - Canada’s main stock index looked set to open higher on Tuesday as strong ata from the euro zone and Germany pointed to a recovery in the European economy and boosted investor sentiment.
* Smartphone maker BlackBerry Ltd is weighing options that could include an outright sale, it said on Monday, and its largest shareholder is stepping down from its board to avoid possible conflict of interest.
* German analyst and investor sentiment climbed more than expected in August, suggesting Europe’s largest economy is gradually regaining momentum after a contraction in late 2012 and a weak start to 2013.
* Struggling department store operator J.C. Penney Co said activist investor William Ackman, who has been pressuring the company to oust its chairman and chief executive, has resigned from the board effective Aug. 12.
* Japanese Prime Minister Shinzo Abe may look at cutting corporate taxes to ensure he can push through a planned sales tax increase as he seeks to show he has a strategy to both foster an economic recovery and contain the country’s enormous public debt.
* The heat seems to be getting to KFC parent Yum Brands Inc in China, after the fast-food chain saw China sales slide in July, with some market watchers saying a lack of focus on cooling drinks and ice cream meant diners looked elsewhere as record hot weather gripping the country.MARKET SNAPSHOT
* Canada stock futures traded up 0.17 percent
* U.S. stock futures , , were up around 0.22 percent to 0.28 percent
* European shares, were up COMMODITY PRICE MOVES
* Thomson Reuters-Jefferies CRB Index : 289.4325; rose 0.22 percent
* Gold futures : $1,326.6; fell 0.61 percent
* US crude : $106.55; rose 0.41 percent
* Brent crude : $109.71; rose 0.68 percent
* LME 3-month copper : $7,296.25; rose 0.62 percent ANALYSTS’ RECOMMENDATIONS
Following is a summary of research actions on Canadian companies reported by Reuters.
* Amica Mature Lifestyles Inc : National Bank Financial cuts target price to C$10.50 from C$10.75 on valuation
* Copper Mountain Mining Corp : BMO cuts rating to underperform from market perform, says the company continues to face challenges in attaining design capacity and working capital remains weak
* Enerplus Corp : CIBC raises price target to C$20 from C$17.50 after the company reported second-quarter results that beat expectations
* Perpetual Energy Inc : CIBC raises price target to C$1.50 from C$1.40, believes further debt repayment will be key to the company’s success going forward ON THE CALENDAR
* No major Canadian economic data scheduled for the day
* Major U.S. events and data includes retail sales, business inventories and import and export prices