CANADA STOCKS-TSX may open higher after central bank decisions

April 4 Thu Apr 4, 2013 8:23am EDT

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April 4 (Reuters) - Canada's main stock index looked set to open higher after the European Central Bank and the Bank of England left interest rates unchanged, and the Bank of Japan introduced aggressive monetary easing measures.

TOP STORIES

* The Bank of Japan unleashed the world's most intense burst of monetary stimulus, promising to inject about $1.4 trillion into the economy in less than two years, a radical gamble that sent the yen reeling and bond yields to record lows.

* The European Central Bank kept interest rates on hold on Thursday, waiting to see if a recession-hit economy perks up and whether an aggressive policy move by the Bank of Japan helps the euro zone.

* The Bank of England opted not to pump new money into Britain's stagnant economy, despite a new remit that gives it clearer leeway to disregard above-target inflation.

* American employers likely hired at a moderate pace in March, suggesting the economy is gathering momentum despite the onset of across-the-board federal spending cuts.

* A huge drop in French business activity meant the euro zone's recession dragged on in March but British services firms provided a rare glimpse of economic sunshine, posting their best month since August.

* Dominion Diamond Corp, formerly Harry Winston Diamond Corp, on Wednesday reported an increase in fourth-quarter sales on rising demand in the United States, China and India.

MARKET SNAPSHOT

* Canada stock futures traded up 0.16 percent

* U.S. stock futures , , were up around 0.4 percent and 0.41 percent

* European shares, were up

COMMODITY PRICE MOVES

* Thomson Reuters-Jefferies CRB Index : 290.2475; fell 0.01 percent

* Gold futures : $1,546.1; fell 0.43 percent

* US crude : $94.56; rose 0.12 percent

* Brent crude : $107.67; rose 0.52 percent

* LME 3-month copper : $7,369; fell 0.26 percent

CANADIAN STOCKS TO WATCH

* Lululemon Athletica Inc : The retailer's chief product officer, Sheree Waterson, will leave the company, it said on Wednesday, after a popular product proved too risqué for its fashion-conscious fans.

ANALYSTS' RECOMMENDATIONS

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

* D-Box Technologies Inc : Canaccord cuts rating to hold from speculative buy as the company's commercial theater business showed disappointing results with lower-than-expected recurring revenues per auditorium, despite the fact that D-Box has been able to secure high quality content from studios.

* New Zealand Energy Corp : Canaccord cuts target price to C$0.65 from C$0.85 to reflect the company's uncertain financial situation.

* Royal Host Inc : CIBC raises price target to C$0.85 from C$0.75 following the company's fourth-quarter earnings that came in line with expectations and the resignation of its CEO.

* Valeant Pharmaceuticals International Inc : Canaccord Genuity cuts target price to $82 from $83, says the decision of the management of a merger of equals may alleviate balance sheet constraints and this speculation could continue to buoy the stock.

ON THE CALENDAR

* No major Canadian economic data scheduled for release

* Major U.S. events and data includes weekly jobless claims data and challenger layoffs

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