CANADA STOCKS-TSX may open lower on weak U.S. economic data

Wed, 19 Feb - 11:13pm

Feb 19 (Reuters) - Canadian stock index futures pointed to a lower open on Wednesday, after weak U.S. economic data raised concerns about the outlook for North American growth.

TOP STORIES

* U.S. homebuilder confidence suffered its largest one-month drop ever in February, heightening concerns that recent signs of weakness in the economy reflect deeper problems than the severe weather that has gripped much of the country. News Search ID:nL2N0LN0Y6

* Canadian Natural Resources Ltd CNQ.TO said it would buy some of Devon Energy Corp's liquids-rich natural gas assets in Canada for $3.13 billion. News Search ID:nL3N0LO2TK

* Yamana Gold Inc YRI.TO reported a net loss for the fourth quarter on Tuesday due to a $535.8 million after-tax impairment charge it booked on several exploration and producing properties partly caused by the drop in metal prices.

News Search ID:nL2N0LO01K

* Navigation device maker Garmin Ltd reported a better-than-expected quarterly profit, helped by strong demand for its aviation and fitness products. News Search ID:nL3N0LN4TL

* U.S. fertilizer producer CF Industries Holdings Inc posted a lower fourth-quarter profit on Tuesday, but the fall from record-high earnings a year earlier was not as steep as analysts had expected. News Search ID:nL2N0LN1WL

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MARKET SNAPSHOT

* Canada stock futures 0#SXF: traded down 0.21 percent

* U.S. stock futures 0#SP: , 0#DJ: , 0#ND: were down around 0.2 to 0.33 percent Href="NewsSearch">.N

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

COMMODITY PRICE MOVES

* Thomson Reuters-Jefferies CRB Index .TRJCRBTR : 300.619; rose 0.49 percent

* Gold futures GCc1 : $1,320.7; fell 0.3 percent Href="NewsSearch">GOL/

* US crude CLc1 : $103.1; rose 0.65 percent Href="NewsSearch">O/R

* Brent crude LCOc1 : $110.44; fell 0.02 percent Href="NewsSearch">O/R

* LME 3-month copper CMCU3 : $7,193; fell 0.03 percent

Href="NewsSearch">MET/L

CANADIAN STOCKS TO WATCH

* BlackBerry Ltd BB.TO : The company's CEO John Chen fired a salvo at T-Mobile US Inc on Tuesday, calling ill-conceived a promotion run by the company that encourages customers using BlackBerry smartphones to upgrade to iPhones. News Search ID:nL2N0LN23M

ANALYSTS' RECOMMENDATIONS

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

* Keyera Corp KEY.TO : CIBC raises target price to C$69 from C$68 citing production growth in liquids-rich formations in the long term

* Nevsun Resources NSU.TO : CIBC raises target price to C$5 from C$4.50 after the company provided a reserve and resource update for the Bisha and Harena mining licenses

* Precision Drilling PD.TO : Cowen raises target price to $12 from $11.50 based on better-than expected fourth quarter results and being well positioned to benefit from the secular shift in North America toward high-spec rigs

* Royal Bank of Canada RY.TO : Barclays raises price target to $70 from $69, says revenue growth anticipated

ON THE CALENDAR

* Major Canadian economic data include wholesale trade data

ECONCA

* Major U.S. events and data includes Producer price index and mortgage index

($1= $1.09 Canadian)

(Reporting by Mononshila Deka in Banagalore; Editing by Jeffrey Hodgson)

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

Keywords: MARKETS CANADA/STOCKS

URN: 
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