CANADA STOCKS-TSX may open higher; U.S. job data supports sentiment

Reuters

Nov 11 (Reuters) - Canada's main stock index was set for ahigher open on Monday after investor sentiment got a boost fromstrong U.S. payrolls data released on Friday which suggested animproved growth outlook for Canada's largest trading partner.

TOP STORIES

* Angela Merkel's conservatives and the Social Democratshave struck a deal on the contours of a European banking unionunder which a body attached to European finance ministers, notthe European Commission, would decide when to close failingbanks.

* Mitel Networks Corp, a provider of internet phone andvideo-conferencing services, said it would buy smaller rivalAastra Technologies Ltd for C$392 million to expand its customerbase. [ID: nL4N0IW350]

* Shire is buying ViroPharma for $4.2 billion, attracted bya pipeline of potentially lucrative drugs to treat rarediseases, a growing trend as drugs companies lose revenues frompatent expiries on conventional treatments.

* Switzerland's Novartis has agreed to sell its bloodtransfusion testing unit to Spain's Grifols for $1.68 billion,in an increasingly buoyant market for healthcare deals.

* More U.S. primary dealers now expect the Federal Reserveto scale back its economic stimulus program before March in thewake of October jobs numbers and other data pointing to a firmereconomy, according to a Reuters poll on Friday.

MARKET SNAPSHOT

* Canada stock futures traded up 0.06 percent

* U.S. stock futures , , were uparound 0.07 percent to 0.12 percent

* European shares, were up

COMMODITY PRICE MOVES

* Thomson Reuters-Jefferies CRB Index : 274.5813;fell 0.13 percent

* Gold futures : $1,284.5; were unchanged

* US crude : $94.12; fell 0.51 percent

* Brent crude : $105.48; rose 0.34 percent

* LME 3-month copper : $7,139.5; fell 0.39 percent

CANADIAN STOCKS TO WATCH

* Brookfield Asset Management Inc : The company isramping up its investment focus on emerging markets such asBrazil, India, and China, as it expects a recent flight tocapital from those countries to produce bargains, the company'sCEO said On Friday.

* Sears Canada Inc : The company said it would sellits 50 percent stake in eight Canadian properties for aboutC$315 million, as the struggling department store chaincontinues to offload real estate in the country.

ANALYSTS' RECOMMENDATIONS

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

* Alaris Royalty Corp : Canaccord Genuity raisesprice target to C$38.50 from C$36 on valuation.

* Calfrac Well Services Ltd : Cowen raises pricetarget to C$35.50 from C$33 as the company's 2014 outlookimproved based on activity improvements in the U.S. and Canada.

* Detour Gold Corp : RBC cuts price target to C$13from C$16 on the company's lower-than-expected productionoutlook.

* Parkland Fuel Corp : RBC raises price target toC$20 from C$19 following the company's announcement to acquireSPF Energy for $110 million, which should serve to addadditional supply options for its petroleum products.

* Telus Corp : RBC raises price target to C$40 fromC$38 following the company's solid third-quarter results.

ON THE CALENDAR

* Both Canadian and U.S. bond markets closed

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