CANADA STOCKS-TSX may open higher; U.S. debt deal talks boost sentiment

Reuters

Oct 15 (Reuters) - - Canada's main stock index pointed to ahigher open on Tuesday after an extended weekend as progress ona deal that could avert an economically damaging U.S. debtdefault boosted investor sentiment.

TOP STORIES

* A month of combat in the U.S. Congress over governmentspending showed signs of giving way to a Senate deal to reopenshuttered federal agencies and prevent a default on federaldebt.

* German analyst and investor sentiment rose more thanexpected in October on signs that the recession in the euro zonewas bottoming out, a survey showed, underscoring a brighteningoutlook for Europe's largest economy.

* Coca-Cola Co reported higher quarterly earnings and lowerrevenue, helped by strong global sales of its Coca-Cola brandproducts but challenged by volatility in some parts of Europe.

MARKET SNAPSHOT

* Canada stock futures traded up 0.09 percent

* U.S. stock futures , , were mixedaround -0.1 percent to 0.1 percent

* European shares, were up COMMODITY PRICE MOVES

* Thomson Reuters-Jefferies CRB Index : 287.2235;fell 0.28 percent

* Gold futures : $1,263.1; fell 1.27 percent

* US crude : $101.81; fell 0.59 percent

* Brent crude : $110.14; fell 0.81 percent

* LME 3-month copper : $7,224.25; fell 0.42 percent CANADIAN STOCKS TO WATCH

* Barrick Gold Corp's : A Chilean appeals court hasagreed to examine a new appeal against Barrick Gold's suspendedPascua-Lama gold mine that alleges the project is hurting theenvironment and the quality of life for the local population.

* BlackBerry Ltd : The company on Monday sought toreassure customers and partners that it was financially stableand "here to stay," even though it announced massive layoffs andsources say it is in talks to sell all or part of the company.

* Canadian National Railway Co : Talks between therailroad workers' union and Canadian National Railway havebroken down, raising the possibility of a strike or a lockout byOct. 28 at the country's largest railroad operator, the unionsaid on Monday.

* Toronto-Dominion Bank : The bank is considering an 8billion pound bid for Royal Bank of Scotland's American retailbanking business Citizens, The Sunday Times reported withoutciting sources. ANALYSTS' RECOMMENDATIONS

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

* Strategic Oil and Gas Ltd : National Bank Financialresumes coverage with outperform rating; price target of C$1.50,says the company is well funded to complete its 2013 budget andundertake an expanded 2014 program

* Sulliden Exploration : National Bank Financialresumes coverage with outperform rating; price target of C$1.40after the company recently closed $40 million bought dealfinancing

* Trican Well Service Ltd : Cowen cuts price targetto C$13 from C$15 based on a report that forecasts noimprovement in pressure pumping prices through 2014 and probablybeyondON THE CALENDAR

* No major Canadian economic data scheduled for the day

* Major U.S. events and data includes Empire state index andRedbook

Rates

View Comments (0)