CANADA STOCKS-TSX may open higher; Rogers, Telus in focus

Fri Feb 15, 2013 7:24pm IST

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Feb 15 (Reuters) - Canadian stock index futures pointed to a slightly higher open on Friday after Toronto's main stock index hit a one-week low on Thursday, with investors focused on results from major companies like Rogers Communications, Telus and Goldcorp.

TOP STORIES

* Rogers Communications Inc : The wireless company posted a 30 percent rise in adjusted quarterly profit, helped by cost improvements and revenue growth in all its segments, and increased its annualized dividend.

* Telus posted a 23 percent rise in quarterly profit on Friday, helped by strong growth in its wireless business.

* Goldcorp Inc : The gold producer booked a lower-than-expected drop in adjusted quarterly profit on Thursday and said improved performance at two key mines positioned it for a strong year.

* The Group of 20 major economies struggled to find common ground on currencies and borrowing, exposing rifts between advocates of a dash for growth and supporters of more austerity to revive the world economy.

* ECB's Asmussen urged France to bring its public deficit below the EU ceiling, highlighting an issue that threatens a policy rift between the euro zone's top two economies.

* Enbridge reported an 8 percent fall in quarterly profit as it was hurt by a C$105 million after-tax charge related to certain off-shore assets.

MARKET SNAPSHOT

* Canada stock futures traded lower

* U.S. stock futures , , were down around 0.07 percent

* European shares, were up

COMMODITY PRICE MOVES

* Thomson Reuters-Jefferies CRB Index : 299.4055; fell 0.25 percent

* Gold futures : $1,619.5; fell 0.93 percent

* US crude : $96.56; fell 0.77 percent

* Brent crude : $117.58; fell 0.36 percent

* LME 3-month copper : $8,244.75; rose 0.06 percent

CANADIAN STOCKS TO WATCH

* Bombardier : Russia's Rostec is in talks with Bombardier over a possible multimillion-dollar joint venture to build the Canadian plane maker's Q400 aircraft in Russia, the head of the state-owned technology company told Reuters.

* KEYreit : The company, which owns small retail properties across Canada rejected an unsolicited partial takeover bid from Huntingdon Capital Corp, saying the proposal was inadequate, coercive and highly opportunistic.

* Fairfax Financial : The property and casualty insurer run by investment guru Prem Watsa, posted a stronger-than-expected fourth-quarter profit on Thursday, which included a large investment gain, after a year-earlier loss.

ANALYST RECOMMENDATIONS

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

* Agnico Eagle Mines Ltd : Barclays cuts target price of the company's U.S. -listed shares to $56 from $58 as the company reaffirmed its outlook, despite a faster ramp-up at LaRonde and a smaller decline at Pinos Altos.

* Kinross Gold Corp : Credit Suisse raises to outperform from neutral on senior level management changes and a change in strategy.

* Manitoba Telecom Services Inc : Canaccord Genuity raises target price to C$30 from C$27 to reflect rising rates/potential declines in pension funding.

* Progressive Waste Solutions Ltd : National Bank Financial cuts target price of the company's U.S.-listed shares to $23 from $24, says revenue and EBITDA outlook was slightly below NBF's estimates.

* Silvercorp Metals Inc : Salman Partners cuts target price to C$7.50 from C$9.25 on valuation, after the company reported third-quarter results.

ON THE CALENDAR

* Major Canadian economic data includes manufacturing sales

* Major U.S. events and data includes Empire state index, industrial output, Reuters/UMich sentiment index and current conditions

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