CANADA STOCKS-TSX may open higher as traders return to market

Tue Jan 7, 2014 8:36am EST

Jan 7 (Reuters) - Canada's main stock index looked set to open higher on Tuesday with investors awaiting events later this week for signs of how trading in 2014 will shape up.

TOP STORIES

* Janet Yellen, a skilled economist and gifted communicator who likes to hike and cook, made history on Monday as the U.S. Senate confirmed her to be the first woman to lead the Federal Reserve in its 100-year history.

* Euro zone inflation fell in December after a small rise the previous month, increasing the European Central Bank's challenge of avoiding deflation as well as supporting the bloc's recovery.

* A blast of Arctic air gripped the vast middle of the United States on Monday with the coldest temperatures in two decades causing at least four deaths, forcing businesses and schools to close and canceling thousands of flights.

* China has temporarily lifted a 14-year-old ban on selling video game consoles, paving the way for Sony Corp, Microsoft Corp and Nintendo Co Ltd to enter the world's third largest video game market in terms of revenue.

MARKET SNAPSHOT

* Canada stock futures traded up 0.41 percent

* U.S. stock futures , , were up around 0.25 percent to 0.43 percent

* European shares, were up

COMMODITY PRICE MOVES

* Thomson Reuters-Jefferies CRB Index : 278.6395; rose 0.34 percent

* Gold futures : $1,237.7; fell 0.01 percent

* US crude : $94.03; rose 0.64 percent

* Brent crude : $107.33; rose 0.56 percent

* LME 3-month copper : $7,336.5; rose 0.16 percent

ANALYSTS' RECOMMENDATIONS

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

* Alaris Royalty Corp : National Bank Financial raises rating to outperform from sector perform as the company continues to invest in existing successful partners, adding an incremental C$5 million to Killick

* Kirkland Lake Gold Inc : CIBC cuts price target to C$3.50 from C$4, says the likelihood of sale of company's shares or assets is low given the current appetite in the merger and acquisition market

ON THE CALENDAR

* Major Canadian economic data includes trade balance, exports and imports

* Major U.S. events and data includes international trade

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.