CANADA STOCKS-TSX may open lower, tracking commodity markets
May 7 (Reuters) - Canada's main stock index looked set to open slightly lower, in line with weaker commodity markets, as investors await a slew of Chinese economic data later in the week.
TOP STORIES * German industrial orders rose again in March, confounding expectations for a drop after strong demand from the euro zone provided a boost, the Economy Ministry said, adding that the sector was slowly pulling out of a weak phase. * HSBC reported a near doubling in first quarter earnings, demonstrating the benefits of a three-year restructuring, cost cuts and a big drop in bad debt charges. * Husky Energy Inc reported a 9 percent drop in first-quarter profit due to lower crude prices. * Westjet Airlines Ltd said it expects revenue per available seat mile to decline in the second quarter, hurt by the timing of the Easter and Passover holidays and cancellation of some business by travel agency Thomas Cook. * Anadarko Petroleum Corp reported quarterly results that topped Wall Street expectations as it produced a record amount of oil and gas.
* Canada stock futures traded down 0.13 percent
* U.S. stock futures , , were up around 0.16 percent to 0.24 percent
* European shares, were up
COMMODITY PRICE MOVES
* Thomson Reuters-Jefferies CRB Index : 289.6455; fell 0.32 percent
* Gold futures : $1,464; fell 0.28 percent
* US crude : $95.72; fell 0.46 percent
* Brent crude : $105.32; fell 0.13 percent
* LME 3-month copper : $7,266.25; fell 0.05 percent
CANADIAN STOCKS TO WATCH
* Enbridge Inc : The pipeline company said it would expand its 180,000 barrel per day Southern Lights pipeline after customers looked for more space on the line than it could handle.
* First Quantum Minerals Ltd : The base metal miner reported a rise in adjusted earnings, helped by higher sales volumes and its recent acquisition of Inmet Mining Corp .
* WestJet Airlines Ltd : Aviation regulator has allowed the carrier an exemption from current rules so that it can boost the number of passengers each of its flight attendants may serve to 50 from 40.
Following is a summary of research actions on Canadian companies reported by Reuters.
* Alaris Royalty Corp : Canaccord Genuity raises price target to C$31.50 from C$31 after the company reported in-line first-quarter results
* Belo Sun Mining Corp : National Bank Financial cuts price target to C$1.90 from C$2.25 on lowered earnings estimates
* Cargojet Inc : Canaccord Genuity raises price target to C$11 from C$10.75 citing a solid volumes surge following first-quarter results, says volume increases are sustainable and mark the beginning of a recovery with margin improvements likely to follow
ON THE CALENDAR
* No major Canadian economic data scheduled
* Major U.S. events and data includes Redbook, consumer credit and IBD consumer confidence
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