CANADA STOCKS-TSX may open lower; China data drags

Jan 23 (Reuters) - Canada's main stock index looked set to extend the previous session's losses on Thursday as weaker-than-expected manufacturing data from China overshadowed strong economic figures from the euro zone.

TOP STORIES

* The global economy started 2014 on a disjointed note, with the euro zone's private sector in better shape than expected and China's vast manufacturing industry contracting for the first time in six months. News Search ID:nL5N0KX19A

* Carl Icahn has taken a stake in eBay Inc and is proposing a spinoff of its fast-growing PayPal division. The e-commerce company rebuffed the overture, setting the stage for a potential battle with the activist investor. News Search ID:nL2N0KW1UI

* Top U.S. weapons maker Lockheed Martin Corp reported a lower-than-expected profit after charges linked to U.S. defense budget cuts and workforce reductions, but said it expected higher earnings this year. News Search ID:nL2N0KX07Z

* Lenovo Group Ltd said it would buy IBM Corp's server business for $2.3 billion as the Chinese PC company grabs another piece of the computing world in a long-awaited deal.

News Search ID:nL3N0KX31E

* Nokia reported a 22 percent fall in sales at its core NSN network equipment division, highlighting the problems facing management once it completes the sale of its former flagship phones business to Microsoft for 5.4 billion euros.

News Search ID:nL5N0KX1ZG

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MARKET SNAPSHOT

* Canada stock futures 0#SXF: traded down 0.27 percent.

* U.S. stock futures were down Href="NewsSearch">.N .

* European shares .FTEU3 .STOXX were down Href="NewsSearch">.EU .

COMMODITY PRICE MOVES

* Thomson Reuters-Jefferies CRB Index .TRJCRBTR : 282.7671; rose 0.58 percent

* Gold futures GCc1 : $1,239.3; rose 0.02 percent Href="NewsSearch">GOL/

* U.S. crude CLc1 : $96.98; rose 0.26 percent Href="NewsSearch">O/R

* Brent crude LCOc1 : $107.89; fell 0.35 percent Href="NewsSearch">O/R

* LME 3-month copper CMCU3 : $7,272.75; fell 0.26 percent

Href="NewsSearch">MET/L

CANADIAN STOCKS TO WATCH

* Barrick Gold Corp ABX.TO : The company said on Wednesday that it had agreed to sell its Kanowna gold mine in Western Australia to Northern Star Resources Ltd for A$75 million to focus on its lower-cost mines. News Search ID:nL2N0KW24T

* Saputo Inc SAP.TO : Australia's Murray Goulburn Co-operative Co Ltd agreed to sell its 17.7 percent stake in Warrnambool Cheese and Butter Factory Co Holdings Ltd to rival bidder Saputo, bowing out of the hotly contested bidding battle.

News Search ID:nL3N0KX1KB

ANALYSTS' RECOMMENDATIONS

Following is a summary of research actions on Canadian companies reported by Reuters. Href="NewsSearch">RCH/CA

* Ithaca Energy Inc IAE.TO: Imperial Capital raises price target to C$3.30 from C$3.05, says the company is close to a substantial increase in free cash flow generation once its well at Stella starts producing.

* WesternZagros Resources Ltd WZR.V : Wood Co cuts target price to C$1.60 from C$2.68, driven mainly by the failed K-3 exploration well and the company's recent announcement that it is to relinquish three plays in the Garmian license area.

ON THE CALENDAR

* Major Canadian economic data include retail sales ECONCA .

* Major U.S. events and data includes jobless claims, Markit manufacturing PMI, home sales and lead indicators .

($1= $1.11 Canadian)

(Reporting by Ayesha Sruti Ahmed in Bangalore; Editing by Lisa Von Ahn)

((ayeshasruti.ahmed@thomsonreuters.com)(91 80 6749 4811)(Reuters Messaging:)(ayeshasruti.ahmed.thomsonreuters.com@reuters.net))

Keywords: MARKETS CANADA/STOCKS