CANADA STOCKS-TSX may open higher on euro zone recovery hopes

Tue Apr 2, 2013 8:26am EDT

April 2 (Reuters) - Canada's main stock index looked set to
open higher as euro zone manufacturing data came in slightly
better than a preliminary estimate, raising hopes for the
region's recovery.
    
    TOP STORIES
    * Manufacturing across Europe's major economies endured
another month of mostly deep decline in March, dragging down
even former bright spots, surveys showed. 
    * Spain will revise down its economic growth forecast for
2013 next week and seek more time from the European Union to
reduce its budget deficit as recession cuts deeper than
previously expected, a government source told Reuters.
 
    * In a reversal that followed intense lobbying from the
health insurance industry and members of Congress, the U.S.
government said it will increase the payment rate for health
insurers that offer coverage through the popular Medicare
Advantage program. 
    * Apple Inc CEO Tim Cook apologized to Chinese consumers on
Monday and altered iPhone warranty policies in its No. 2 market
after more than two weeks of condemnation in the state-run media
of its after-sales service. 
    * AstraZeneca has suffered a fresh patent setback with a
U.S. court decision that a patent protecting its Pulmicort
Repsules asthma treatment is invalid, clearing the way for a
generic copy from Actavis.MARKET SNAPSHOT 
    * Canada stock futures traded up 0.41 percent
    * U.S. stock futures , , were up
around 0.41 percent and 0.67 percent 
    * European shares, were up 

    COMMODITY PRICE MOVES
    * Thomson Reuters-Jefferies CRB Index : 295.3601;
rose 0.09 percent
    * Gold futures : $1,596.1; fell 0.24 percent 
    * US crude : $97.23; rose 0.67 percent 
    * Brent crude : $111.71; rose 0.57 percent 
    * LME 3-month copper : $7,471; fell 0.92 percent
 
    ANALYSTS' RECOMMENDATIONS
    Following is a summary of research actions on Canadian
companies reported by Reuters. 
    * Alterra Power Corp : NBF cuts price target to
C$0.50 from C$0.70 as the company missed expectations in its
fourth quarter due to lower production.
    * Blackberry : SocGen raises target price to $13 from
$8.4, says the launch of the Z10 has gone much better than
expected and there should be opportunity for volumes to grow
again in the first quarter of 2014.
    * KP Tissue Inc : CIBC starts coverage with sector
outperform rating, says with a stable industry demand and strong
brand portfolio, the company generates attractive sustainable
margins.
    * Orezone Gold Corp : CIBC cuts price target to
C$3.35 from C$3.50 to reflect the market concerns surrounding
the company with the recent instability in West Africa.
    
    ON THE CALENDAR
    * No major Canadian economic data scheduled for release
 
    * Major U.S. events and data includes factory orders, chain
store sales, redbook and regional business activity data
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