CANADA STOCKS-TSX may open higher; euro zone data and China support

Mon Nov 18, 2013 8:28am EST

Nov 18 (Reuters) - Canada's main stock index looked set to open higher on Monday, as investors remained positive following better-than-expected euro zone data and signs of economic reform in China.

TOP STORIES

* The euro zone's trade surplus grew more than expected in September as imports were flat and exports rose, data from the European Union statistics office Eurostat showed.

* JPMorgan Chase & Co said on Friday it agreed to pay $4.5 billion to settle claims by investors who lost money on mortgage-backed securities before the collapse of the U.S. housing market.

* Airbus and Boeing signed deals to buy some $5 billion of parts and materials from Abu Dhabi, in a sign Gulf states are seeking a reciprocal boost to their economies from the huge orders they have placed with the planemakers.

* Aberdeen Asset Management is to buy Lloyds' fund management arm Scottish Widows for about 660 million pounds, creating Europe's No. 1 listed stand-alone fund manager.

MARKET SNAPSHOT

* Canada stock futures traded up 0.01 percent

* U.S. stock futures , , were up around 0.06 percent to 0.17 percent

* European shares, were up

COMMODITY PRICE MOVES

* Thomson Reuters-Jefferies CRB Index : 274.1935; fell 0.26 percent

* Gold futures : $1,283; fell 0.33 percent

* US crude : $93.45; fell 0.42 percent

* Brent crude : $107.77; fell 0.67 percent

* LME 3-month copper : $7,001; fell 0.13 percent

CANADIAN STOCKS TO WATCH

* Barrick Gold and Goldcorp : The gold miners are looking to sell their jointly owned Marigold mine in Nevada, according to sources familiar with the situation. The mine produced just under 40,000 ounces of gold in the third quarter.

* Tim Hortons : U.S. hedge funds Scout Capital Management and Highfields Capital disclosed in regulatory filings that they have trimmed their stakes in the company after shares in the coffee and doughnut chain posted big gains.

ANALYSTS' RECOMMENDATIONS

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

* IBI Group Inc : CIBC cuts rating to sector underperformer from sector performer as the company reported third-quarter results that reflected write-downs of uncollectible amounts.

* Ithaca Energy Inc : RBC raises price target to C$3.50 from C$3.20 following the company's strong third-quarter results.

* Onex Corp : CIBC raises price target to C$64 from C$63 as the company reached an agreement to sell Caliber Collision.

* Power Corp of Canada : CIBC raises target price to C$34 from C$32.25 on valuation.

* TeraGo Inc : CIBC cuts target price to C$9 from C$10 after its CEO and President Bryan Boyd offered to resign.

ON THE CALENDAR

* Major Canadian economic data includes Canadian and foreign securities

* Major U.S. events and data includes net capital inflows and NAHB index

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