CANADA STOCKS-TSX may open lower, Fed decision weighs

Jan 30 (Reuters) - Canada's main stock index pointed to a lower open on Thursday following the U.S. Federal Reserve's decision to continue scaling back bond purchases despite emerging market turmoil.

TOP STORIES

* Potash Corp of Saskatchewan POT.TO reported a sharply lower quarterly profit and produced 2014 forecasts that were below Wall Street expectations. News Search ID:nL2N0L40HV

* Facebook Inc delivered its strongest revenue growth in two years, beating Wall Street targets as the Internet company's mobile ad sales continued to accelerate. News Search ID:nL2N0L32AZ

* The Federal Reserve on Wednesday decided to trim its bond purchases by another $10 billion as it stuck to a plan to wind down its extraordinary economic stimulus despite recent turmoil in emerging markets. News Search ID:nL2N0L32MY

* ConocoPhillips, the largest U.S. oil company without refining operations, said its fourth-quarter profit rose, helped by the sale of its Algerian business and other assets.

News Search ID:nL2N0L40MD

* Visa Inc, the world's largest credit and debit card company, reported a 9 percent rise in quarterly profit as more people used its cards. News Search ID:nL3N0L43XB

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MARKET SNAPSHOT

* Canada stock futures 0#SXF: traded down 0.03 percent

* U.S. stock futures 0#SP: , 0#DJ: , 0#ND: were up around 0.31 to 0.4 percent Href="NewsSearch">.N

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

COMMODITY PRICE MOVES

* Thomson Reuters-Jefferies CRB Index .TRJCRBTR : 284.3311; fell 0.23 percent

* Gold futures GCc1 : $1,253; fell 0.74 percent Href="NewsSearch">GOL/

* US crude CLc1 : $97.84; rose 0.49 percent Href="NewsSearch">O/R

* Brent crude LCOc1 : $107.9; rose 0.05 percent Href="NewsSearch">O/R

* LME 3-month copper CMCU3 : $7,110; fell 0.24 percent

Href="NewsSearch">MET/L

CANADIAN STOCKS TO WATCH

* Enbridge Inc ENB.TO : Enbridge Income Fund Holdings

ENF.TO , the fund controlled by the company, said on Wednesday it will build a C$25 million crude oil pipeline connection to the Cromer, Manitoba, rail terminal owned by Tundra Energy Marketing Ltd. News Search ID:nL2N0L32D1

* Osisko Mining OSK.TO : The company said on Wednesday it has sued Goldcorp Inc G.TO in an attempt to foil the gold miner's C$2.6 billion hostile bid, alleging that its suitor misused confidential information. News Search ID:nL2N0L32JF

* Sears Canada Inc SCC.TO : The struggling department store operator said it would cut 624 jobs as it reorganizes its business. News Search ID:nL3N0L35DX

ANALYSTS' RECOMMENDATIONS

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

* AGF Management Ltd AGFb.TO : CIBC cuts price target to C$12.50 from C$13.50, says the company's fund performance was dismal and there is no real likelihood of asset growth in 2014

* Canadian Pacific Railway Ltd CP.TO : BMO raises price target to C$180 from C$172 on the company's largely in-line quarterly results, projects revenue growth in light of a favourable shift in the US$/CDN$ exchange rate

* Nuvista Energy Ltd NVA.TO : CIBC raises to sector outperformer from sector performer and raises target price to C$10.50 from C$9.50 citing an improved outlook, a possibility of the company's internally funding growth in the year ahead and an increase in economies from its wells

ON THE CALENDAR

* No major economic events scheduled in the day ECONCA

* Major U.S. events and data includes initial and continuing claims, pending home sales and real GDP data

($1= $1.12 Canadian)

(Reporting by Mononshila Deka in Bangalore)

((mononshila.deka@thomsonreuters.com)(91 80 6749 3006)(Reuters Messaging:)(mononshila.deka.thomsonreuters.com@reuters.net))

Keywords: MARKETS CANADA/STOCKS