CANADA STOCKS-TSX set to open higher after results from Apple, Facebook

Thu Apr 24, 2014 7:35am EDT

April 24 - Canadian stock index futures inched higher on Thursday as upbeat earnings from heavyweights such as Apple and Facebook outweighed weak results from Potash Corp.

June futures on the S&P TSX index <0#SXF:> were up 0.06 percent at 0715 ET.

No major economic events are scheduled in Canada.

The Toronto Stock Exchange's S&P/TSX composite index eased on Wednesday, with gains from some big energy producers offset by weakness in banks and a pullback in Valeant Pharmaceuticals' shares.

Dow Jones Industrial Average futures were up 0.3 percent at 0715 ET, S&P 500 futures were up 0.4 percent and Nasdaq 100 futures were up 1.46 percent.

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

TOP STORIES

Potash Corp of Saskatchewan, the world's biggest fertilizer company, said it expects a weaker second-quarter after reporting a fall in first-quarter profit.

The disagreements around the spin-out of certain assets that had snagged merger talks between Barrick Gold Corp and Newmont Mining Corp have been resolved but talks are at a standstill for now, three souces said.

Nautilus Minerals Inc said it had signed an agreement with Papua New Guinea to move towards production at its Solwara 1 underwater copper mining project.

COMMODITIES AT 0715 ET

Gold futures : $1,272.5; -0.91 pct

US crude : $101.79; +0.35 pct

Brent crude : $109.29; +0.17 pct

LME 3-month copper : $6,723; +0.8 pct

ANALYST RESEARCH HIGHLIGHTS

Crescent Point Energy Corp : RBC raises target price to C$52 from C$50; rating outperform

Goldcorp Inc : HSBC cuts target price to $27.80 from $28.35; rating neutral

Husky Energy Inc : Raymond James raises target price to C$43 from C$42; rating outperform

U.S. ECONOMIC DATA DUE ON THURSDAY

08:30 Durable Goods for March: Expected 2.0 pct Prior 2.2 pct

08:30 Durables Ex-Transport for March: Expected 0.6 pct Prior 0.1 pct

08:30 Durables Ex-Defense mm for March: Expected 3.0 pct 1.7 pct

08:30 Nondefense Ex-Air for March: Expected 1.5 pct Prior -1.4 pct

08:30 Initial Jobless Claims for w/e: Expected 310,000 Prior 304,000\

08:30 Jobless Claims 4-Wk Avg for w/e: Prior 312,000

08:30 Continued Jobless Claims for w/e: Expected 2.750 mln Prior 2.739 mln

11:00 KC Fed Manufacturing for April: Prior 22

11:00 KC Fed Composite Index for April: Prior 10

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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