CANADA STOCKS-TSX may open higher; Citi offsets global debt woes

Fri Jul 15, 2011 8:27am EDT
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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.


* Canadian equity futures <0#SXF:> pointed to a flat open

* U.S. stock index futures added to gains after Citigroup (C.N: Quote) reported earnings for the second quarter and BHP Billiton's (BLT.L: Quote) $12 billion offer to acquire Petrohawk Energy (HK.N: Quote) 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.


* 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...