CANADA STOCKS-TSX may open higher, Fed worries recede

Reuters

Nov 22 (Reuters) - Canadian stock index futures pointed to ahigher open on Friday as worry dissipated about the eventualscaling back of the U.S. Federal Reserve's bond-buying program.

TOP STORIES

* German business morale rose far more than forecast inNovember, reaching its highest level since April 2012, in a signthat Europe's largest economy is steadily recovering after aweak start to the year.

* The European Central Bank's chief economist said the eurozone faces deflationary pressures, and the bank's presidentstressed that interest rates must remain low "because theeconomy is weak".

* Swiss drugmaker Novartis AG is to buy back $5 billion ofits shares, offering investors a sweetener as it holds offannouncing any radical change to its structure.

* Gap Inc on Thursday reported a better-than-expected 9percent rise in profit, helped by modest sales gains, and stuckto its profit forecast for the year.

MARKET SNAPSHOT

* Canada stock futures traded up 0.04 percent

* U.S. stock futures , , were uparound 0.1-0.19 percent

* European shares, were up

COMMODITY PRICE MOVES

* Thomson Reuters-Jefferies CRB Index : 276.42;rose 0.11 percent

* Gold futures : $1,242.2; fell 0.1 percent

* US crude : $95.29; fell 0.16 percent

* Brent crude : $110.55; rose 0.43 percent

* LME 3-month copper : $7,083.5; rose 0.9 percent

ANALYSTS' RECOMMENDATIONS

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

* Gildan Activewear Inc : CIBC raises price targetto $53 from $51 citing the company's in-line fourth-quarterresults.

* Lightstream Resources Ltd : CIBC cuts price targetto C$8 from C$8.50 after the company announced a 50 percent cutto its monthly dividend and a suspension of its dividendreinvestment plan and share dividend plan.

* Magna International Inc : Morgan Stanley raisestarget price of U.S.-listed shares to $93 from $85, says thecompany's growth opportunities and its buyback reauthorizationmakes it a top supplier pick.

* Premier Gold Mines Ltd : CIBC cuts price target toC$4 from C$4.25 on the company's underwhelming resource growthin Nevada.

* Whitecap Resources Inc : CIBC raises price targetto C$14.50 from C$14 after the company announced an accretiveacquisition of a private company, PrivateCo.

ON THE CALENDAR

* Major Canadian economic data includes inflation and retailsales

* No major U.S. events or data scheduled for release

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