June 5, 2013 / 12:27 PM / 5 years ago

CANADA STOCKS-TSX may open lower, Fed uncertainty lingers

June 5 (Reuters) - Canada’s main stock index looked set to open lower on Wednesday as market concerns that the Federal Reserve might end its monetary easing policy offset data that showed euro zone business activity eased at a slightly slower pace in May.

TOP STORIES

* Euro zone business activity shrank at a slightly slower pace last month, but a chronic shortage of new orders means an economic recovery still looks some way off, business surveys showed.

* Prime Minister Shinzo Abe pledged to raise incomes by 3 percent annually and set up special economic zones to attract foreign businesses in a third tranche of measures aimed at boosting Japanese growth.

* Activity in China’s services sector expanded in May but at a pace little changed from the month before, the latest sign that the world’s No. 2 economy is struggling to regain momentum.

* Samsung Electronics scored a victory over rival Apple in their long-running dispute over mobile device patents after a U.S. trade agency issued an order banning older but still-popular Apple products from the U.S. market.

* Brazil is closer to choosing Boeing’s F-18 for one of the developing world’s most sought-after defense contracts after U.S. Vice President Joe Biden addressed the government’s main misgivings during a visit to Brasilia, officials told Reuters.

MARKET SNAPSHOT

* Canada stock futures traded down 0.39 percent

* U.S. stock futures , , were down around 0.36 percent to 0.43 percent

* European shares, were down

COMMODITY PRICE MOVES

* Thomson Reuters-Jefferies CRB Index : 287.1559; rose 0.24 percent

* Gold futures : $1,397; fell 0.01 percent

* US crude : $93.79; rose 0.51 percent

* Brent crude : $103.49; rose 0.24 percent

* LME 3-month copper : $7,462; rose 0.09 percent ANALYSTS’ RECOMMENDATIONS

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

* Dollarama Inc : RBC raises target price to C$81 from C$76, expects strong underlying trends to be offset by weather-related disruptions due to traffic when the company reports its first-quarter results

* EXFO Inc : RBC cuts target price to $5.25 from $6, says preliminary results are disappointing, particularly following the prior two quarters of improvement

* Secure Energy Services Inc : Raymond James raises price target to C$14.50 from C$14, continues to advise that investors build the company into a core holding and believe that very few companies have the combined growth potential and management track record that it can offer

ON THE CALENDAR

* Major Canadian economic data includes building permits

* Major U.S. events and data includes ADP national employment, ISM non-manufacturing index, factory orders and durable goods data

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below