September 23, 2013 / 12:36 PM / 6 years ago

CANADA STOCKS-TSX may open lower on BlackBerry warning, Fed comments

Sept 23 (Reuters) - Canada’s main stock index futures pointed to a lower open on Monday despite positive economic data from China and the euro zone, as Fed comments and a bleak warning from BlackBerry weigh on investor sentiment.


* A flood of new orders gave a boost to European and Chinese firms in September, according to a clutch of surveys which added to evidence that the global economy is healing.

* BlackBerry Ltd’s plan to retreat from the consumer market in favor of serving businesses and governments is a desperate move that industry watchers warn will only accelerate its downward spiral.

* Major U.S. telecom companies have not registered for a Canadian wireless spectrum auction, raising doubts about government plans for more competition and offering good news for the three big players, BCE Inc, Rogers Communications Inc and Telus Corp

* German Chancellor Angela Merkel faces the daunting prospect of persuading her centre-left rivals to keep her in power after her conservatives notched up their best election result in more than two decades but fell short of an absolute majority.MARKET SNAPSHOT

* Canada stock futures traded down 0.26 percent

* U.S. stock futures , , were mixed around -0.18 percent to 0.08

* European shares, were down COMMODITY PRICE MOVES

* Thomson Reuters-Jefferies CRB Index : 287.5278; fell 0.17 percent

* Gold futures : $1,319.7; fell 0.96 percent

* US crude : $104.66; fell 0.09 percent

* Brent crude : $108.95; fell 0.25 percent

* LME 3-month copper : $7,216; fell 0.88 percent CANADIAN STOCKS TO WATCH

* Agrium Inc raised its dividend by 50 percent and said potash volumes are expected to be about 30 percent lower than normal in the current quarter.

* Enbridge Inc : The pipeline company has rationed space for crude oil shippers on four different lines in its export network in October, two market sources said on Friday. ANALYSTS’ RECOMMENDATIONS

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

* BlackBerry : Many banks and brokers, including Citigroup, Goldman Sachs, Nomura, CIBC, cut price targets after the company said it expects second-quarter results below estimates

* Aurcana Corp : RBC raises target price to C$2.50 from C$2, says with the finalization of a loan facility, near-term concerns over liquidity and the ability for the company to fund capital expenditures at Shafter have been addressed

* Canam Group Inc : Raymond James raises rating to strong buy from outperform, says the North American steel sector is slowly turning for the better

* Semafo Inc : RBC raises target price to C$3.70 from C$2.80, says the impact of the Reserve at Siou and new mine plan are positive for Semafo as they increase production and lower costs at the company’s Mana operation ON THE CALENDAR

* No major Canadian economic data scheduled for the day

* Major U.S. events and data includes Chicago Fed index and Markit Manufacturing PMI

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