CANADA STOCKS-TSX may rise on ECB rate hopes, BlackBerry to fall

Reuters

Nov 4 (Reuters) - Canadian stock index futures pointed to ahigher open on Monday on expectations the European Central Bankwill cut interest rates during its policy meeting and ahead ofkey U.S. employment data later in the week which could providehints on when the Federal Reserve will decide to taper itsstimulus program.

But shares of BlackBerry Ltd were expected to weighon the market. The stock was down 17.5 percent in pre-markettrade after the smartphone maker abandoned a plan to sell itselfand said it will instead raise some $1 billion and replace itschief executive.

TOP STORIES

* An ineffective, fractious and fiscally irresponsiblegovernment has slowed the U.S. recovery and counteracted thestimulative effects of Federal Reserve's super-accommodativemonetary policy, a top Fed official said.

* HSBC reported a 10 percent rise in third quarter profits,helped by tighter cost control and fewer losses from bad loans,and confirmed it was being investigated as part of a globalprobe into currency market trading manipulation.

* Anadarko Petroleum Corp is considering the sale of itsholdings in oil and gas projects in China in a deal that couldbe valued at about $1 billion, sources familiar with the mattersaid.

MARKET SNAPSHOT

* Canada stock futures traded up 0.18 percent

* U.S. stock futures , , were uparound 0.31 - 0.46 percent

* European shares, were up

COMMODITY PRICE MOVES

* Thomson Reuters-Jefferies CRB Index : 274.7762;fell 0.27 percent

* Gold futures : $1,316.5; rose 0.26 percent

* US crude : $94.25; fell 0.38 percent

* Brent crude : $105.5; fell 0.39 percent

* LME 3-month copper : $7,201; fell 0.61 percent

CANADIAN STOCKS TO WATCH

* Postmedia Network Canada Corp : U.S. hedge fundSilver Point Capital LP has bought a 19 percent stake in thenewspaper company, a regulatory filing showed.

* Canadian National Railway Co : A train carryinglumber and sulfur dioxide derailed in the Western Canadianprovince of Alberta on Sunday, but there were no injuries orspills of dangerous goods, a spokesman for the railway said.

ANALYSTS' RECOMMENDATIONS

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

* Fairfax Financial Holdings Ltd : CIBC cuts tosector underperformer from sector performer, cuts target priceto C$400 from C$425 after the company reportedgreater-than-expected investment losses.

* Stantec Inc : CIBC raises target price to C$66from C$50 after the company posted strong third-quarter results,says fourth-quarter outlook is strong.

ON THE CALENDAR

* No major Canadian economic data scheduled for release

* Major U.S. events and data includes factory orders anddurable goods

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