CANADA STOCKS-TSX may open higher; U.S. job data supports sentiment

Nov 11 (Reuters) - Canada’s main stock index was set for a higher open on Monday after investor sentiment got a boost from strong U.S. payrolls data released on Friday which suggested an improved growth outlook for Canada’s largest trading partner.


* Angela Merkel’s conservatives and the Social Democrats have struck a deal on the contours of a European banking union under which a body attached to European finance ministers, not the European Commission, would decide when to close failing banks.

* Mitel Networks Corp, a provider of internet phone and video-conferencing services, said it would buy smaller rival Aastra Technologies Ltd for C$392 million to expand its customer base. [ID: nL4N0IW350]

* Shire is buying ViroPharma for $4.2 billion, attracted by a pipeline of potentially lucrative drugs to treat rare diseases, a growing trend as drugs companies lose revenues from patent expiries on conventional treatments.

* Switzerland’s Novartis has agreed to sell its blood transfusion testing unit to Spain’s Grifols for $1.68 billion, in an increasingly buoyant market for healthcare deals.

* More U.S. primary dealers now expect the Federal Reserve to scale back its economic stimulus program before March in the wake of October jobs numbers and other data pointing to a firmer economy, according to a Reuters poll on Friday.


* Canada stock futures traded up 0.06 percent

* U.S. stock futures , , were up around 0.07 percent to 0.12 percent

* European shares, were up


* Thomson Reuters-Jefferies CRB Index : 274.5813; fell 0.13 percent

* Gold futures : $1,284.5; were unchanged

* US crude : $94.12; fell 0.51 percent

* Brent crude : $105.48; rose 0.34 percent

* LME 3-month copper : $7,139.5; fell 0.39 percent


* Brookfield Asset Management Inc : The company is ramping up its investment focus on emerging markets such as Brazil, India, and China, as it expects a recent flight to capital from those countries to produce bargains, the company’s CEO said On Friday.

* Sears Canada Inc : The company said it would sell its 50 percent stake in eight Canadian properties for about C$315 million, as the struggling department store chain continues to offload real estate in the country.


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

* Alaris Royalty Corp : Canaccord Genuity raises price target to C$38.50 from C$36 on valuation.

* Calfrac Well Services Ltd : Cowen raises price target to C$35.50 from C$33 as the company’s 2014 outlook improved based on activity improvements in the U.S. and Canada.

* Detour Gold Corp : RBC cuts price target to C$13 from C$16 on the company’s lower-than-expected production outlook.

* Parkland Fuel Corp : RBC raises price target to C$20 from C$19 following the company’s announcement to acquire SPF Energy for $110 million, which should serve to add additional supply options for its petroleum products.

* Telus Corp : RBC raises price target to C$40 from C$38 following the company’s solid third-quarter results.


* Both Canadian and U.S. bond markets closed