CANADA STOCKS-TSX may open higher on positive German and UK data

Wed Feb 26, 2014 8:32am EST

Feb 26 (Reuters) - Canadian stock index futures pointed to a higher open on Wednesday, despite worries over opaque policy moves in China, as positive economic data from Germany and the UK boosted investor sentiment. TOP STORIES * German consumer morale rose to its highest level in seven years heading into March as shoppers in Europe's biggest economy became more upbeat about their future income. * Britain's economic recovery broadened in the last three months of 2013, driven by a pick-up in business investment and trade that will hearten the Bank of England and the government. * Royal Bank of Canada's quarterly profit topped analysts' estimates, rising 2 percent on the back of higher capital markets income, and the bank raised its dividend by 6 percent. * Struggling department store operator Sears Canada Inc posted a fall in quarterly same-store sales due to severe winter weather and power outages. * Chesapeake Energy Corp swung to a quarterly net loss, hurt by charges related to its efforts to reduce debt and simplify its balance sheet.MARKET SNAPSHOT * Canada stock futures traded up 0.12 percent * U.S. stock futures , , were up around 0.12 to 0.15 percent * European shares, were down COMMODITY PRICE MOVES * Thomson Reuters-Jefferies CRB Index : 301.3631; fell 0.29 percent * Gold futures : $1,337.7; fell 0.4 percent * US crude : $102.42; rose 0.58 percent * Brent crude : $109.3; fell 0.19 percent * LME 3-month copper : $7,086; rose 0.3 percent CANADIAN STOCKS TO WATCH * Encana Corp : The company and Chesapeake Energy Corp are negotiating civil settlements with the state of Michigan to try to end its criminal investigation into whether the energy companies colluded to keep oil and gas lease prices artificially low in the state. ANALYSTS' RECOMMENDATIONS Following is a summary of research actions on Canadian companies reported by Reuters. * Altus Group Ltd : CIBC raises target price to C$18.50 from C$17 based after the company's fourth-quarter results beat estimates * Bank of Montreal : KBW raises price target to C$68 from C$67, based on the company's better-than-expected first-quarter results, expectation of a continued low provision in the US in 2014 and the per share estimated accretion from the acquisition of F&C * Macdonald Dettwiler & Associates Ltd : CIBC raises target price to C$94 from C$90 considering the company's better-than-expected fourth-quarter results, sees growth opportunities from its SS/L * National Bank of Canada : CIBC cuts target price to C$48 from C$48.50, says the company's first-quarter results beat estimates, sees better earnings growth and capital deployment potential from some of its larger peers ON THE CALENDAR * No major economic events scheduled for the day * Major U.S. events and data includes new home sales