July 20, 2016 / 11:32 AM / a year ago

CANADA STOCKS-Futures point to higher start, U.S. earnings in focus

July 20 (Reuters) - Stock futures pointed to a higher start for Canada's main stock index on Wednesday, taking cues from the U.S. market amid strong quarterly results from companies including Microsoft Corp.

September futures on the S&P TSX index up 0.34 percent at 7:15 a.m. ET.

The Toronto Stock Exchange's S&P/TSX composite index dipped slightly on Tuesday as oil prices fell and resource stocks retreated, offsetting gains due to consumer and technology stocks.

No major Canadian or U.S. data release is scheduled for the day.

Dow Jones Industrial Average e-mini futures were up 0.35 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.31 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

Canada's Brookfield Asset Management Inc plans to invest about $1 billion in Indian distressed assets through a joint venture with the largest lender in the South Asian nation where banks are battling a record $120 billion of sour debt.

Lundin Mining Corp has been granted an extension until Sept. 15 to make a bid for Freeport-McMoRan Inc's stake in the Tenke Fungurume mine in the Democratic Republic of Congo, Lundin said on Tuesday. The previous deadline was Aug. 8.

Satellite radio service provider Sirius XM Canada Holdings Inc said it "strongly disagrees" with a complaint filed by some shareholders in connection with the company's plan to go private.

COMMODITIES AT 7:15 a.m. ET

Gold futures : $1,323.60; -0.59 pct

US crude : $44.62; -0.07 pct

Brent crude : $46.77; +0.24 pct

LME 3-month copper : $4,925; -1.18 pct

ANALYST RESEARCH HIGHLIGHTS

Enbridge Inc : Goldman Sachs cuts price target to C$54 from C$57

Fortis Inc : CIBC cuts rating to "sector performer" from "sector outperformer"

Transalta Corp : CIBC raises price target to C$8 from C$7.50

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= C$1.30) (Reporting by Nikhil Kumar in Bengaluru; Editing by Kirti Pandey)

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