CANADA STOCKS-TSX may open higher; Citi offsets global debt woes
July 15 (Reuters) - Toronto's main stock index looked set to open slightly higher on Friday, as news of a stronger profit at U.S. lender Citigroup and major deal in the energy sector offset fears about U.S. and European debt levels.
FACTORS TO WATCH
* Canadian equity futures <0#SXF:> pointed to a flat open
* U.S. stock index futures added to gains after Citigroup C.N reported earnings for the second quarter and BHP Billiton's BLT.L $12 billion offer to acquire Petrohawk Energy HK.N lifted shares in the energy sector. [.N]
* European shares were headed for their biggest weekly fall in four months, with miners tracking weaker metals and financials coming under pressure ahead of a bank stress test report expected to show some second-tier lenders have failed. [.EU]
* Asian markets were mixed with Nikkei edging up, but traders were reluctant to make big bets ahead of the results of stress tests on European banks.
COMMODITY PRICE MOVES
* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, fell 0.01 percent in early trade.
* Oil prices fell after ratings agency Standard & Poor's warned it may cut the credit rating of top energy consumer the United States, capping a volatile week marked by concern about the country's deficit and the euro zone's debt. [O/R] Continued...