CANADA STOCKS-TSX may open lower; U.S. payrolls data drags

Mon Jan 13, 2014 8:22am EST

Jan 13 (Reuters) - Canada's main stock index looked set to open lower on Monday as weak-than-expected U.S. payrolls data weighed on investor sentiment, reviving speculation about the timeline of the Federal Reserve's monetary policy tapering.

TOP STORIES

* Suntory Holdings Ltd said it plans to buy Beam Inc for $16 billion, including debt, making the Japanese company the world's third-largest maker of distilled drinks.

* Upscale yogawear retailer Lululemon Athletica Inc cut its current-quarter forecast after sales declined in the first two weeks of January.

* Goldcorp Inc launched a bid to buy fellow gold miner Osisko Mining Corp for C$2.6 billion in cash and stock to gain access to Osisko's Malartic mine in Quebec.

* Global banking regulators agreed on Sunday to ease the way a new rule, meant to rein in risky balance sheets from 2018, is compiled to try to avoid crimping financing for the world's economy.

MARKET SNAPSHOT

* Canada stock futures traded down 0.14 percent

* U.S. stock futures , , were down around 0.05 percent to 0.22 percent

* European shares, were up

COMMODITY PRICE MOVES

* Thomson Reuters-Jefferies CRB Index : 275.8291; fell 0.07 percent

* Gold futures : $1,245.5; fell 0.1 percent

* US crude : $92.1; fell 0.67 percent

* Brent crude : $106.99; fell 0.24 percent

* LME 3-month copper : $7,272.5; fell 0.41 percent

STOCKS TO WATCH

* Magna International : A possible recovery in the European car market could send the vehicle-parts producer's share price higher in 2014, following a 64 percent jump last year, Barron's said in its latest edition published on Sunday.

* TransCanada Corp : The company will start its 700,000-barrel-per-day Gulf Coast crude oil pipeline project in "the next 10 days", the company's CFO Don Marchand said.

ANALYSTS' RECOMMENDATIONS

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

* Barrick Gold Corp : Canaccord Genuity cuts to sell from hold and cuts price target to C$17.50 from C$20 on the company's recent share price outperformance

* Agnico Eagle Mines Ltd : Canaccord Genuity raises to buy from hold in anticipation of positive catalysts ahead and an enhanced safety premium

* Miners: CIBC raises target price of First Quantum Minerals to C$23.50 from C$22, Capstone Mining Corp to C$4 from C$3.75 and Lundin Mining Corp to C$5 from C$4.50 on commodity price tweaks and rollover of net asset values

ON THE CALENDAR

* No major Canadian economic data scheduled for release

* Major U.S. events and data includes federal budget

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