CANADA STOCKS-Futures point to higher opening for Canadian stocks

April 29 Tue Apr 29, 2014 7:36am EDT

April 29 (Reuters) - Stock futures pointed to a higher opening for Canada's main index on Tuesday on optimism surrounding corporate earnings and merger moves.

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

The index was little changed on Monday as weakness in shares of Barrick Gold Corp and concerns about the volatile situation in Ukraine were offset by gains in the financial and energy sectors.

While Newmont Mining Corp terminated merger talks with Barrick Gold Corp on Monday, Pfizer Inc pushed ahead with its $100 billion bid for Britain's AstraZeneca Plc .

Dow Jones Industrial Average futures were up 0.28 percent, S&P 500 futures were up 0.31 percent and Nasdaq 100 futures were up 0.49 percent at 0715 ET. (Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)

TOP STORIES

The Canada Pension Plan Investment Board (CPPIB) plans to vote against Barrick Gold Corp's new executive compensation plan, the investment management group said in a proxy voting notice on its website Monday.

Suncor Energy Inc, Canada's largest oil and gas company, said on Monday its first-quarter profit rose 36 percent on strong oil prices and a lower Canadian dollar.

Canada imposed sanctions on Monday on two small Russian banks and nine individuals.

COMMODITIES AT 0715 ET

Gold futures : $1,289.10; -0.74 pct

US crude : $101.29; +0.45 pct

Brent crude : $108.62; +0.46 pct

LME 3-month copper : $6753.50; +0.12 pct

ANALYST RESEARCH HIGHLIGHTS

Aurico Gold Inc : CIBC raises rating to sector outperform from sector performer

Gluskin Sheff + Associates : Canaccord Genuity cuts rating to hold from buy

Terago Inc : NBF starts with outperform; target price of C$6.50

U.S. ECONOMIC DATA DUE ON TUESDAY

0855 Redbook mm: Prior -0.5 pct

0855 Redbook yy: Prior +3.7 pct

0900 CaseShiller 20 mm SA for Feb: Expected +0.7 pct prior +0.8 pct

0900 CaseShiller 20 mm NSA for Feb: Expected +0.0 pct prior -0.1 pct

0900 CaseShiller 20 yy for Feb: Expected +13.0 pct prior +13.2 pct

1000 Consumer Confidence for April: Expected +83.0 prior +82.3

1030 Texas Serv Sect Outlook for April: Prior +10.1

1030 Dallas Fed Services Reve for April: Prior +16.5

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= $1.10 Canadian) (Reporting by Mononshila Deka in Banagalore; Editing by Saumyadeb Chakrabarty)

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