CANADA STOCKS-TSX may open higher on Chinese PMI data

Reuters

Oct 24 (Reuters) - Canadian stock index futures pointed to ahigher open on Thursday as data that showed activity acrossChina's vast factory sector reached a seven-month high easedconcerns of a slowdown in the world's second largest economy.

TOP STORIES

* The euro zone economy is only expanding slowly, accordingto surveys on Thursday that showed the rate of growth easedunexpectedly in the private sector this month, althoughglobally, factories in China ratcheted up production.

* Potash Corp of Saskatchewan reduced its outlook forfull-year earnings more than Wall Street expected, as buyersbacked away from the key fertilizer ingredient potash due touncertainty caused by the breakup of rival Belarusian Potash Co.

* Husky Energy Inc reported a 3 percent fall in quarterlyprofit as its refining business was hurt by a sharp drop inmarket crack spreads, or the price difference between crude oiland the refined product.

* Rogers Communications Inc reported a third-quarter profitthat topped expectations, on the back of strong results from itscable and wireless business.

* Teck Resources Ltd reported a 41 percent drop in quarterlyadjusted profit as higher coal sales volumes failed to offsetweaker prices.

* Canadian media company Corus Entertainment Inc's profitnearly halved as a rise in specialty advertisement revenuefailed to offset weakness in its radio division.

MARKET SNAPSHOT

* Canada stock futures traded up 0.25 percent

* U.S. stock futures , , were uparound 0.25 percent to 0.36 percent

* European shares, were up

COMMODITY PRICE MOVES

* Thomson Reuters-Jefferies CRB Index : 281.6031;fell 0.25 percent

* Gold futures : $1,336.9; rose 0.04 percent

* US crude : $96.91; rose 0.05 percent

* Brent crude : $107.67; fell 0.12 percent

* LME 3-month copper : $7,174; rose 0.04 percent

CANADIAN STOCKS TO WATCH

* Agnico Eagle Mines Ltd : The company reported onWednesday a 56 percent decline in third-quarter profit due tolower realized metal prices as well as a maintenance shutdown atits Kittila mine in Finland and raised its full-year productionforecast.

* BlackBerry Ltd : Former Apple Inc Chief ExecutiveJohn Sculley is exploring a joint bid for the smartphone makerwith Canadian partners, the Globe and Mail reported onWednesday, citing unnamed sources.

* Cenovus Energy Inc : The oil producer reported a28 percent rise in third-quarter profit, driven by higher oilprices and increased volumes.

* MEG Energy Corp : The oil sands producer'sthird-quarter profit more than doubled, driven by a rise inoutput, lower operating costs and stronger price realizations.

* Telus : The telecom company said on Wednesday it hasagreed to buy 100 percent of struggling startup Public Mobilefrom private equity firm Cartesian Capital and Thomvest SeedCapital, a Toronto-based investment vehicle backed by PeterThomson.

ANALYSTS' RECOMMENDATIONS

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

* Agnico Eagle Mines Ltd : Credit Suisse raisestarget price of its U.S. listed shares to $39 from $37 on highercash flow in 2014.

* Canadian Pacific Railway Ltd : RBC raises to sectorperform from underperform; target price to C$133 from C$116, onthe company's impressive third-quarter results and outlook.

* Canam Group Inc : National Bank Financial raisestarget price to C$13.50 from C$11.50, says U.S. recovery helpedto drive another strong revenue beat and backlog growth.

* Encana Corporation : RBC raises the price targetof its U.S. listed shares to $24 from $23 after the companyposted respectable third-quarter results amid in-line productionrates and a $39 million cash tax recovery.

ON THE CALENDAR

* No major Canadian economic data scheduled for the day

* Major U.S. events and data includes initial, continuingclaims and international trade

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