CANADA STOCKS-TSX may open higher on Chinese data, U.S. earnings

April 9 Tue Apr 9, 2013 8:24am EDT

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April 9 (Reuters) - Toronto's main stock index looked set to open higher as lower-than-expected Chinese inflation raised hopes of an accommodative monetary policy and the U.S. earnings season got off to a good start.

TOP STORIES

* China's annual consumer inflation cooled in March as food prices eased from nine-month highs and producer price deflation deepened, data showed on Tuesday, leaving policymakers room to keep monetary conditions easy and nurture a nascent recovery.

* Alcoa Inc, the largest U.S. aluminum producer, reported a higher quarterly profit on Monday thanks in part to strength at its raw materials segment, but lower-than-expected revenue and an uncertain outlook dragged down the company's share price.

* German imports fell sharply in February for the third time in the last four months and exports also declined, in a sign the euro zone's largest economy cannot be relied on to help lift the currency bloc out of recession.

* The board of J.C. Penney Co Inc is facing scathing criticism from retail investors and corporate governance experts after ousting Chief Executive Ron Johnson and replacing him with his own embattled predecessor, Myron Ullman.

* French media group Lagardere has sold its 7.4 percent stake in Airbus parent EADS , kicking off a long-expected overhaul in the ownership of Europe's top aircraft maker.

MARKET SNAPSHOT

* Canada stock futures traded up 0.34 percent

* U.S. stock futures , , were up around 0.08 percent and 0.32 percent

* European shares, were up

COMMODITY PRICE MOVES

* Thomson Reuters-Jefferies CRB Index : 289.9779; rose 0.1 percent

* Gold futures : $1,571.1; fell 0.06 percent

* US crude : $93.46; rose 0.11 percent

* Brent crude : $105.1; rose 0.42 percent

* LME 3-month copper : $7,536; rose 1.15 percent

CANADIAN STOCKS TO WATCH

* Shaw Communications Inc : The company said on Monday that it would pay C$225 million to acquire a fiber-optic network in Calgary from city-owned power company Enmax Corp.

* Bombardier Inc : Carrier Porter Aviation Holdings Inc is set to announce an order for up to 30 C-Series jets made by the rail and airplane company, the WSJ reported, citing two people familiar with the deal.

ANALYSTS' RECOMMENDATIONS

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

* Cogeco Cable Inc : Canaccord Genuity raises price target to C$50 from C$44, expects the company to post a strong second quarter.

* Keyera Corp : TD Securities raises price target to C$58 from C$56, says the company's $210 million of projects related to its Simonette gas plant could contribute 18 cents of free cash flow per share on an annual basis once volumes ramp up.

* Premier Royalty Inc : CIBC starts with sector performer rating, says the company represents an up-and-coming competitor in the royalty space that holds a quality portfolio, including several cornerstone assets that are currently cash flowing.

ON THE CALENDAR

* Major Canadian economic data includes housing starts and building permits

* Major U.S. events and data includes wholesale inventories

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