July 24, 2014 / 11:34 AM / 3 years ago

CANADA STOCKS-Futures trade higher, focus on earnings

3 Min Read

July 24 (Reuters) - Futures pointed to a slightly higher opening for Canada's main stock index on Thursday as the corporate reporting season picks up.

June futures on the S&P TSX index <0#SXF:> were up 0.07 percent at 0730 ET.

The Toronto Stock Exchange's S&P/TSX composite index rose on Wednesday, with Talisman Energy Inc soaring on an approach from Spain's Repsol about a possible deal.

No major economic events are scheduled.

Dow Jones Industrial Average e-mini futures were up 0.19 percent at 0730 ET, while S&P 500 e-mini futures were up 0.20 percent and Nasdaq 100 e-mini futures were up 0.33 percent.

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

Top Stories

Potash Corp of Saskatchewan raised its full-year earnings outlook after second-quarter profit fell less than expected due to growing global fertilizer demand.

Encana Corp, country's largest natural-gas producer, posted a steeper-than-expected 31 percent fall in quarterly operating profit, hurt by lower gas production and prices.

Struggling with long delays in its CSeries jetliner, Bombardier Inc announced on Wednesday that it will reorganize its business and cut 1,800 jobs.

Commodities at 0730 Et

Gold futures : $1,299.9; -0.37 pct

US crude : $102.84; -0.27 pct

Brent crude : $107.76; -0.25 pct

LME 3-month copper : $7,149; +1.48 pct

Analyst Research Highlights

BCE : National Bank Financial raises target price to C$51.50

Bell Aliant Inc : CIBC raises target price to C$31 from C$27; sector performer

Rubicon Minerals Corp : Canaccord Genuity cuts to hold from speculative buy

u.s. Economic Data Due on Thursday

08:30 Initial jobless claims: Expected +308,000 Prior +302,000

08:30 Jobless claims 4-wk avg: Prior +309,000

08:30 Continued jobless claims: Expected +2.510 mln Prior +2.507 mln

09:45 Markit manufacturing PMI flash for July: Expected +57.5 Prior +57.3

10:00 New home sales-units mm for June: Expected +0.479 mln Prior +0.504 mln

10:00 New home sales change mm for June: Prior +18.6 pct

11:00 KC Fed Manufacturing for July: Prior +2

11:00 KC Fed Composite Index for July: Prior +6

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= $1.07 Canadian Reporting by Nikhil Kumar; Editing by Ted Kerr

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