CANADA STOCKS-TSX may open higher on robust Chinese export data
Jan 10 (Reuters) - Canada's main stock index looked set to open higher on Thursday after better-than-expected Chinese export data lured investors to riskier assets.
* China's export growth rebounded surprisingly sharply to a seven-month high in December, a strong finish to the year after seven straight quarters of slowdown, but subdued global demand means that the spike may not herald an enduring recovery.
* The European Central Bank held interest rates at a record low of 0.75 percent on Thursday, refraining from a cut following fledgling signs of life in the euro zone economy and with inflation still above target.
* Three of the top U.S. cellphone carriers signaled they would support Research In Motion's BlackBerry 10 products, the first of which are due to be unveiled Jan 30, offering a hopeful sign for RIM's comeback effort.
* The Bank of England kept its powder dry, voting as expected not to buy more government bonds despite the economy teetering on the verge of another contraction.
* General Motors Co's European division Opel is not up for sale, Steve Girsky, vice chairman of the U.S. car maker, said.
* Canada stock futures traded up 0.41 percent
* U.S. stock futures , , were up around 0.23 percent and 0.44 percent
* European shares, were up
COMMODITY PRICE MOVES
* Thomson Reuters-Jefferies CRB Index : 296.2897; rose 0.63 percent
* Gold futures : $1,654.8; was unchanged 0 percent
* US crude : $94.1; rose 1.07 percent
* Brent crude : $112.7; rose 0.84 percent
* LME 3-month copper : $8,148.75; rose 0.85 percent
CANADIAN STOCKS TO WATCH
* Yamana Gold Inc estimated fourth-quarter production of about 322,800 gold equivalent ounces, and lowered its gold production forecast for 2013.
* Jean Coutu Group Inc. : The pharmacy chain reported a 10 percent rise in third-quarter profit as sales at its generic drug manufacturing subsidiary, Pro Doc, rose.
Following is a summary of research actions on Canadian companies reported by Reuters.
* Eldorado Gold Corp : Raymond James cuts target price of its U.S. listed shares to $18 from $20 after it provided a modestly lower production outlook over the next four years
* TransForce Inc. : CIBC raises target price to C$24.50 from C$21.00 citing earnings growth and improved margins
* TransCanada Corp. : CIBC raises target price to C$49.50 from C$46.50 following the announcement, it got a $5 billion Prince Rupert gas transmission project
ON THE CALENDAR
* No major Canadian economic data scheduled for release
* Major U.S. events and data includes initial claims, continuing claims and wholesale inventories
- Russian-backed separatists enter southeast Ukraine town
- U.S. air strikes on Syria would face formidable obstacles
- Samsung unveils smartwatch that can make calls
- FBI, Secret Service investigate reports of cyber attacks on U.S. banks
- Breakthrough hopes dented as Ukraine accuses Russia of new incursion |