April 22, 2014 / 11:39 AM / in 3 years

CANADA STOCKS-TSX set to open higher, focus on earnings

April 22 (Reuters) - Stock futures indicated a higher opening for Canada’s main stock index on Tuesday, with investors focused on U.S. quarterly earnings.

June futures on the S&P TSX index <0#SXF:> were up 0.24 percent at 0715 ET.

Wholesale trade data for February is due at 0830 ET .

The S&P TSX index was little changed in thin trading on Monday. Drops in shares of Barrick Gold Corp and TransCanada Corp, which was hit by another delay for its Keystone XL pipeline project, offset gains in other groups.

Dow Jones Industrial Average futures were up 0.07 percent at 0715 ET, S&P 500 futures were up 0.01 percent and Nasdaq 100 futures were up 0.27 percent.

(Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)

TOP STORIES

Activist investor William Ackman has teamed up with Canadian drugmaker Valeant Pharmaceuticals International Inc to make a joint run at buying wrinkle-treatment maker Allergan Inc , according to security filings.

Diversified miner Teck Resources Ltd said it would cut about 600 jobs, or 5 percent of its global workforce, after a sharp fall in quarterly earnings and revenue.

Cable, telecommunications and media company Rogers Communications Inc reported a 13 percent drop in first-quarter profit on Monday, as a move to more customer-friendly pricing led to a slip in earnings at its major wireless phone arm.

COMMODITIES AT 0715 ET

Gold futures : $1,289.8; +0.14 percent

US crude : $104.07; -0.29 percent

Brent crude : $109.35; -0.55 percent

LME 3-month copper : $6,619.75; -0.44 percent

ANALYST RESEARCH HIGHLIGHTS

B2Gold Corp : Goldman Sachs starts with buy rating; target price C$4.20

Maple Leaf Foods : RBC raises target price to C$18 from C$17; rating sector perform

Potash Corp : Susquehanna raises price target to $29 from $26; rating neutral

U.S. ECONOMIC DATA DUE ON TUESDAY

08:55 Redbook mm for w/e: Prior -1.0 pct

08:55 Redbook yy for w/e: Prior 2.6 pct

09:00 Monthly Home Prices mm for Feb: Prior 0.5 pct

09:00 Monthly Home Prices yy for Feb: Prior 7.4 pct

09:00 Monthly Home Price Index for Feb: Prior 209.1

10:00 Existing Home Sales for March: Expected 4.55 mln Prior 4.60 mln

10:00 Richmond Fed Composite Index for April: Prior -7

10:00 Richmond Fed Services Index for April: Prior 5

10:00 Richmond Fed Manufacturing Shipments for April: Prior -9

FOR CANADIAN MARKETS NEWS, CLICK ON CODES:

TSX market report

Canadian dollar and bonds report

Reuters global stocks poll for Canada

Canadian markets directory

$1= $1.11 Canadian Reporting by Nikhil Kumar in Bangalore; Editing by Ted Kerr

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