July 29 (Reuters) - Canadian stocks looked set to open modestly higher on Tuesday, with September futures on the S&P TSX index <0#SXF:> up 0.1 percent at 0715 ET.
The index was little changed on Monday as a decline in shares of energy producers, as oil prices dropped, neutralized strength in mining shares.
Dow Jones Industrial Average e-mini futures were up 0.12 percent at 0715 ET, while S&P 500 e-mini futures were up 0.09 percent. Nasdaq 100 e-mini futures were up 0.13 percent.
Talisman Energy Inc, which has been approached by Spain’s Repsol SA for talks over a potential deal, reported a 4 percent rise in second-quarter revenue, helped by an increase in North American drilling.
WestJet Airlines Ltd posted a bigger-than-expected quarterly profit as higher ticket prices and fees helped it offset steeper fuel costs and a weaker Canadian dollar.
Fortis Inc is pushing ahead with a C$400 million expansion of its Tilbury liquefied natural gas plant in British Columbia, as the gas distributor looks to meet growing domestic demand for the super-chilled fuel.
COMMODITIES AT 0715 ET
Gold futures : $1,307.0; +0.28 pct
US crude : $101.46; -0.21 pct
Brent crude : $107.71; +0.13 pct
LME 3-month copper : $7,106.00; -0.2 pct
ANALYST RESEARCH HIGHLIGHTS
Canadian Utilities : Barclays raises target price to C$44 from C$41
Pine Cliff, Stuart Olson : National Bank Financial starts coverage with “outperform”
Capital Power : CIBC raises target price to C$29 from C$26; sector “outperformer”
Easyhome Ltd : Paradigm Capital raises target price to C$30 from C$25; rating “buy”
U.S. ECONOMIC DATA DUE ON TUESDAY
0855 Redbook mm: Prior -0.3 pct
0855 Redbook yy: Prior +3.7 pct
0900 CaseShiller 20 mm sa for May: Expected +0.2 pct, prior +0.2 pct
0900 CaseShiller 20 mm nsa for May: Expected +1.5 pct, prior +1.1 pct
0900 CaseShiller 20 yy for May: Expected +10.0 pct, prior +10.8 pct
1000 Consumer confidence for July: Expected +85.3, prior +85.2
1030 Texas services sector outlook for July: Prior +21.1
1030 Dallas fed services revenue for July: Prior +16.9
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= $1.08 Canadian) (Reporting by Mononshila Deka in Bangalore)
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