May 7, 2014 / 11:44 AM / 3 years ago

CANADA STOCKS-TSX futures point to flat start for Canadian stocks

May 7(Reuters) - Canadian stocks looked set to open little changed on Wednesday, with June futures on the S&P TSX index <0#SXF:> up 0.1 percent at 0730 ET ahead of building permits data.

Building permits figures for March are due at 0830 ET .

The index slipped on Tuesday as worries about increasing violence in Ukraine raised fears that the conflict could be have a broader impact. Almost every sector fell.

Dow Jones Industrial Average futures were up 0.23 percent at 0730 ET while S&P 500 futures were up 0.21 percent and Nasdaq 100 futures were up 0.15 percent. (Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)

TOP STORIES

Encana Corp , Canada’s No. 1 natural gas company, said it would buy producing assets in the Eagle Ford shale field in Texas from Freeport-McMoRan Copper & Gold Inc for $3.1 billion, nearly doubling its oil output.

Talisman Energy Inc, Canada’s No.5 independent oil and gas producer, posted a first-quarter profit, compared with a year-earlier loss, as oil and natural gas liquids production in North America soared 45 percent.

Enbridge Inc, Canada’s largest pipeline company, reported a 56 percent rise in quarterly profit, helped by higher volumes on its regional oil sands system.

Torstar Corp said first-quarter sales slipped, hurt by an 8 percent fall in revenue at its media business, which publishes the country’s largest daily newspaper.

COMMODITIES AT 0715 ET

Gold futures : $1,312.0; +0.28 pct

US crude : $100.29; +0.79 pct

Brent crude : $107.36; +0.28 pct

LME 3-month copper : $6,674.0; -0.68 pct

ANALYST RESEARCH HIGHLIGHTS

George Weston Ltd : Barclays raises target price to C$86 from C$84; rating equal weight

Newalta Corp : RBC raises target price to C$21 from C$20; rating outperform

Westjet Airlines Ltd : Canaccord Genuity cuts price target to C$29 from C$30; rating buy

U.S. ECONOMIC DATA DUE ON WEDNESDAY

0830 Productivity Preliminary for Q1: Expected -1.0 pct prior +1.8 pct

0830 Labor Costs Preliminary for Q1: Expected +2.6 pct prior -0.1 pct

1500 Consumer Credit for March: Expected +15.75 bln prior +16.49 bln

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= $1.09 Canadian Reporting by Mononshila Deka in Banagalore; Editing by Ted Kerr

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