CANADA STOCKS-Futures indicate lower open, Russia sanctions weigh

July 17 Thu Jul 17, 2014 7:24am EDT

July 17 (Reuters) - Canadian stocks looked set to open lower on Thursday as the United States imposed its toughest sanctions yet on Russia, weighing on global risk sentiment.

June futures on the S&P TSX index <0#SXF:> were down 0.23 percent at 0715 ET.

May data on foreign investment in Canadian securities and Canadian investment in foreign securities is due at 0830 ET.

The S&P TSX index closed at a record high on Wednesday, with bullish economic data from China driving up commodity prices and shares of natural resources companies.

Dow Jones Industrial Average e-mini futures were down 0.34 percent at 0715 ET, while S&P 500 e-mini futures were down 0.6 percent. Nasdaq 100 e-mini futures were down 0.62 percent. (Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)

TOP STORIES

Billionaire investor John Paulson on Wednesday called Valeant Pharmaceuticals International Inc a "very serious acquirer" and predicted that Allergan Inc could not rebuff the drugmaker on its own.

An eastbound Canadian Pacific Railway freight train carrying gasoline and other cargo derailed in the prairie province of Saskatchewan on Wednesday afternoon, the rail operator said, but there were no injuries, fire or leaks.

COMMODITIES AT 0715 ET

Gold futures : $1,304.5; +0.36 pct

US crude : $102.17; +0.96 pct

Brent crude : $107.69; +0.49 pct

LME 3-month copper : $7,036.00; -0.59 pct

ANALYST RESEARCH HIGHLIGHTS

Barrick Gold : Canaccord Genuity raises price target to C$19 from C$18.50; sell

Canadian Natural Resources : CIBC raises price target to C$57 from C$54

Peyto Exploration : RBC cuts rating to sector perform from outperform

Quebecor Inc : Canaccord Genuity cuts rating to hold

U.S. ECONOMIC DATA DUE ON THURSDAY

0830 Housing starts number mm for June: Expected +1.018 mln, prior +1.001 mln

0830 House starts mm: change for June: Prior -6.5 pct

0830 Building permits: number for June: Expected +1.040 mln, prior +1.005 mln

0830 Build permits: change mm for June: Prior -5.1 pct

0830 Initial jobless claims: Expected +310,000, prior +304,000

0830 Jobless claims 4-week average: Prior +311,500

0830 Continued jobless claims: Expected +2.575 mln, prior +2.584 mln

1000 Philly Fed business index for July: Expected +16.0, prior +17.8

1000 Philly Fed 6M index for July: Prior +52.00

1000 Philly Fed capex index for July: Prior +31.00

1000 Philly Fed employment for July: Prior +11.90

1000 Philly Fed prices paid for July: Prior +35.00

1000 Philly Fed new orders for July: Prior +16.80

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; Editing by Kirti Pandey)