CANADA STOCKS-TSX may open lower despite strong euro data

Feb 5 (Reuters) - Canada's main stock index looked set to reverse the previous session's gains on Wednesday even as upbeat euro zone economic data pointed to a gradual recovery in the currency bloc.

TOP STORIES

* The euro zone's private sector logged its busiest month in 2-1/2 years in January as buoyant manufacturing growth outshone a more modest expansion in services activity, surveys showed.

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* Time Warner Inc TWC.N reported a better-than-expected 5 percent rise in quarterly revenue, helped by growth in its Warner Bros movie studio business and premium TV service Home Box Office. News Search ID:nL3N0LA2RN

* Merck & Co Inc MRK.N reported lower sales, just below Wall Street estimates, hurt by competition from cheaper generic medicines. News Search ID:nL2N0LA04A

* TMX Group Ltd X.TO reported a fourth-quarter profit that comfortably beat analysts' estimate as trading activity improved. News Search ID:nL3N0LA2SH

* Intact Financial Corp IFC.TO reported a 40 percent drop in fourth-quarter profit, hurt mainly by severe winter weather, but raised its dividend. News Search ID:nL3N0LA2Y5

<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ To receive an early e-mail of Reuters Morning News Call - Canada - a preview of market moving news - Thomson Reuters subscribers can register at Href="NewsSearch">CA/MNC ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>

MARKET SNAPSHOT

* Canada stock futures 0#SXF: traded down 0.19 percent

* U.S. stock futures 0#SP: , 0#DJ: , 0#ND: were down around 0.03 percent and 0.28 percent Href="NewsSearch">.N

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

COMMODITY PRICE MOVES

* Thomson Reuters-Jefferies CRB Index .TRJCRBTR : 288.3274; rose 0.44 percent

* Gold futures GCc1 : $1,261; rose 0.74 percent Href="NewsSearch">GOL/

* U.S. crude CLc1 : $97.73; rose 0.56 percent Href="NewsSearch">O/R

* Brent crude LCOc1 : $105.88; rose 0.09 percent Href="NewsSearch">O/R

* LME 3-month copper CMCU3 : $7,057; rose 0.23 percent

Href="NewsSearch">MET/L

CANADIAN STOCKS TO WATCH

* Osisko Mining Corp OSK.TO : The company said on Tuesday a Quebec court has scheduled a hearing in early March to decide if its complaints against Goldcorp Inc G.TO , which has made a C$2.6 billion hostile bid for Osisko, have merit.

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ANALYSTS' RECOMMENDATIONS

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

* Suncor Energy Inc SU.TO : Raymond James cuts target price to C$45 from C$46 on the company's mixed fourth-quarter results.

* Surge Energy Inc SGY.TO : National Bank Financial resumes with outperform rating and price target of C$8.50 as the company continues to screen as one of the most sustainable models in the energy patch.

* WestJet Airlines Ltd WJA.TO : Raymond James cuts target price to C$28 from C$31 as the company reported fourth-quarter results in line with expectations.

ON THE CALENDAR

* Major Canadian economic data includes building permits

ECONCA .

* Major U.S. events and data includes ADP national employment and ISM non-manufacturing index .

($1= $1.10 Canadian)

(Reporting by Ayesha Sruti Ahmed in Bangalore; Editing by James Dalgleish)

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

Keywords: MARKETS CANADA/STOCKS