CANADA STOCKS-TSX may open higher buoyed by stimulus hopes

Fri Nov 15, 2013 8:21am EST

Nov 15 (Reuters) - Canada's main stock index futures pointed to a higher open on Friday, tracking global markets, after investors took comfort in the expectation of extended U.S. monetary stimulus.

TOP STORIES

* China released a raft of detailed reform plans, promising sweeping changes to the economy and the country's social fabric as it seeks to unleash new sources of growth as three decades of breakneck expansion show signs of faltering.

* Potential buyers of Spain's rescued banks, which include foreign investors, are pressuring the government to sweeten sales with more state aid, just as Madrid pulls its financial sector off European support, banking sources said.

* Dairy company Saputo Inc raised its takeover offer for Australia's Warrnambool Cheese and Butter Factory Co Holdings Ltd by 12.5 percent, and Warrnambool's board unanimously recommended it.

* Warren Buffett's Berkshire Hathaway Inc disclosed a new $3.45 billion stake in Exxon Mobil Corp, after buying 40.1 million shares in the world's largest publicly traded oil company.

MARKET SNAPSHOT

* Canada stock futures traded up 0.23 percent

* U.S. stock futures , , were up around 0.16-0.28 percent

* European shares, were up

COMMODITY PRICE MOVES

* Thomson Reuters-Jefferies CRB Index : 274.6661; rose 0.1 percent

* Gold futures : $1,281.5; fell 0.37 percent

* US crude : $93.95; rose 0.2 percent

* Brent crude : $108.06; fell 0.2 percent

* LME 3-month copper : $6,975; fell 0.24 percent

ANALYSTS' RECOMMENDATIONS

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

* Aimia Inc : CIBC raises target price to C$20 from C$17, says 2014 will be a transition year and investors should focus on free cash flow

* Barrick Gold Corp : CIBC raises target price to $21 from $20 to reflect the company's recapitalization of its balance sheet

* Linamar Corp : CIBC raises target price to C$42 from C$38 on the company's better-than-expected third-quarter results driven by new launches, higher volumes and improved margins

* Sirius XM Canada Holdings Inc : CIBC raises target price to C$9.50 from C$9 citing the company's in-line fourth-quarter revenue and EBITDA figures

* Turquoise Hill Resources Ltd : CIBC cuts target price to C$5.50 from C$6 to reflect the company's higher share count after it announced a rights offering to fund repayment of the Rio Tinto loan facilities

ON THE CALENDAR

* Major Canadian economic data includes manufacturing sales

* Major U.S. events and data includes Import & export data, wholesale inventories and industrial output

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