Nov 29 (Reuters) - Canada’s main stock index pointed to a higher open on Friday on optimism about the health of the global economy and support from central banks. TOP STORIES
* The first fall in euro zone unemployment in almost three years coupled with rising prices gave fresh momentum to an economic recovery, but a rift between the bloc’s haves and have-nots continued to widen.
* Japanese consumer inflation accelerated to a five-year high in October and a narrower price measure increased at its fastest pace in 15 years, more evidence that Prime Minister Shinzo Abe’s aggressive policies are forging an escape from deflation.
* Standard & Poor’s agency cut the Netherlands’ credit rating, reducing the euro zone club of full triple-A nations to just three, while rewarding Spain for efforts to reform its public finances.
* Australia rejected a A$2.8 billion takeover of GrainCorp by U.S. agribusiness giant Archer Daniels Midland, bowing to pressure from grain growers in a rare and surprising decision.
* Caisse de depot et placement du Quebec said on Thursday it has agreed to acquire a 26.7 percent stake in the Australia’s Port of Brisbane from U.S.-based Global Infrastructure Partners, cashing in on rising trade with expanding Asian economies.MARKET SNAPSHOT
* Canada stock futures traded up 0.16 percent
* U.S. stock futures , , were up around 0.22 percent to 0.49 percent
* European shares, were up COMMODITY PRICE MOVES
* Thomson Reuters-Jefferies CRB Index : 275.0305; rose 0.25 percent
* Gold futures : $1,251.7; rose 1.12 percent
* US crude : $92.7; rose 0.43 percent
* Brent crude : $110.92; rose 0.05 percent
* LME 3-month copper : $7,047; rose 0.38 percent ANALYSTS’ RECOMMENDATIONS
Following is a summary of research actions on Canadian companies reported by Reuters.
* Artek Exploration Ltd : National Bank Financial resumes coverage with outperform and price target C$6 as the company plans to drill two Doig wells at its Inga project ahead of year end to follow up the successful southern step-out
* Dollarama Inc : National Bank Financial raises price target to C$97 from C$89, continue to believe that the company will deliver above-average growth over the next three to five years
* UEX Corp : Dundee cuts price target to C$0.80 from C$1.70, says the company has underperformed in almost every time period over the past year while it picked away at Shea Creek ON THE CALENDAR
* Major Canadian economic data includes GDP
* Early close for bond, stock markets
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