CANADA STOCKS-TSX may open lower, U.S. Federal Reserve meeting eyed

July 26 Fri Jul 26, 2013 8:31am EDT

July 26 (Reuters) - Canada's main stock index futures pointed to a lower open on Friday as investors turned wary about the U.S. Federal Reserve's message at next week's monetary policy meeting.

TOP STORIES

* Vivendi plans to sell the bulk of its stake in Activision Blizzard Inc to the video games maker and its management for $8.2 billion, the French conglomerate's second blockbuster deal in a week.

* Samsung Electronics Co Ltd announced a $1 billion increase in investment, hoping a strong recovery in semiconductors will make up for weakening smartphone growth as it faces mounting pressure to produce eye-catching new gadgets.

* French oil group Total reported a drop in second-quarter profits, hit by a fall in oil prices that offset its first rise in output in three years.

* Contract electronics manufacturer Celestica Inc reported a 19 percent rise in second-quarter profit, driven mainly by growth at its communications business.

* Pipeline company Enbridge Inc will build a $1.3 billion extension to its Woodland crude line in northern Alberta to serve Imperial Oil's Kearl oil sands project.

MARKET SNAPSHOT

* Canada stock futures traded down 0.04 percent

* U.S. stock futures , , were down around 0.21 percent and 0.37 percent

* European shares, were mixed

COMMODITY PRICE MOVES

* Thomson Reuters-Jefferies CRB Index : 285.9973; fell 0.51 percent

* Gold futures : $1,326.5; fell 0.19 percent

* US crude : $104.53; fell 0.91 percent

* Brent crude : $106.96; fell 0.64 percent

* LME 3-month copper : $6,893; fell 1.74 percent

ANALYSTS' RECOMMENDATIONS

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

* Canfor Corp : Raymond James raises price target to C$27 from C$24.50 on the company's better-than-expected second-quarter results

* Husky Energy Inc : RBC raises target price to C$36 from C$34, citing the company's better-than-expected second-quarter results driven by robust contributions from its downstream and upgrading segments and lower cash taxes.

* Potash Corp : National Bank Financial raises to sector perform from underperform, raises price target to $39 from $37 on more balanced agricultural cycle risks

* Precision Drilling Corp : RBC raises price target to C$12 from C$11, sees the company's five contracted new build rigs as a positive indicator for the health of the Tier 1 rig market

* Teck Resources Ltd : Canaccord Genuity raises price target to C$28 from C$26 after the company's second-quarter earnings were better than expected

ON THE CALENDAR

* No major Canadian economic data scheduled for release

* Major U.S. events and data includes Reuters/University of Michigan Reuters sentiment and current conditions data

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