CANADA STOCKS-TSX may open higher on positive Chinese data

April 10 Wed Apr 10, 2013 8:32am EDT

April 10 (Reuters) - Canadian stock index futures pointed to a higher open, buoyed by better-than-expected Chinese trade data, which signaled demand was gathering the pace needed to drive a recovery in the world's second largest economy.

TOP STORIES

* Chinese imports of key commodities rebounded in March from the month before as hopes of a strengthening economy encouraged end-users to ramp up output and cautiously replenish stocks.

* The White House proposed a budget that sharply trims the U.S. deficit over three years by forcing millionaires to pay more in taxes and enacting spending cuts that replace the "sequester" reductions that went into place last month.

* German premium carmaker Daimler said it might cut its 2013 profit expectations this month, sparking sharp criticism from shareholders gathering for the annual meeting, as Europe's car market shrank at an alarming rate.

* Thermo Fisher Scientific Inc made a binding offer for Life Technologies Corp on Tuesday as private equity firms raced to finalize a consortium to take the genetic testing equipment maker private, several people familiar with the matter said.

* Telecom network equipment maker, DragonWave said it cut 33 percent of its senior management jobs and amended its deal with Nokia Siemens Networks to reduce operating costs.

MARKET SNAPSHOT

* Canada stock futures traded up 0.13 percent

* U.S. stock futures , , were up around 0.23 percent to 0.37 percent

* European shares, were up

COMMODITY PRICE MOVES

* Thomson Reuters-Jefferies CRB Index : 291.0652; fell 0.15 percent

* Gold futures : $1,577.7; fell 0.54 percent

* US crude : $93.63; fell 0.61 percent

* Brent crude : $105.66; fell 0.54 percent

* LME 3-month copper : $7,566.75; fell 0.83 percent

CANADIAN STOCKS TO WATCH

* Manulife Financial Corp : The insurance company and the Indian affiliate of Standard Life plc are among the suitors to place first-round bids for HSBC plc's Indian life insurance business, a stake valued at about $200 million, people familiar with the matter told Reuters.

ANALYSTS' RECOMMENDATIONS

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

* Agrium Inc : CIBC cuts target to C$122 from C$130 after the company's nominees were all elected back to the board citing lowered first-quarter earnings estimate, expects pressure on stock in near-term given the uncertainty around Jana's future ownership.

* Detour Gold Corp : CIBC cuts target to C$37 from C$40 on valuation following first-quarter production update.

* First Quantum Minerals : National Bank Financial cuts target to C$25 from C$26 on lower metal prices.

* Keyera Corp : CIBC raises price target to C$57.50 from C$55 on higher expected cash flow after the company announced an agreement with NuVista to construct a sour gas gathering pipeline and expand Simonette gas plant.

ON THE CALENDAR

* No major Canadian data scheduled for release

* Major U.S. events and data includes FOMC minutes for March 19-20 meeting

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