CANADA STOCKS-TSX set to open week higher

August 5 Tue Aug 5, 2014 7:28am EDT

August 5 (Reuters) - Canadian stocks looked set to open higher on Tuesday as traders return after an extended weekend.

September futures on the S&P TSX index <0#SXF:> were up 0.42 percent at 0715 ET.

No major Canadian economic data is due for release on Tuesday.

The TSX index fell on Friday and recorded its biggest weekly decline since early May, rattled by uncertainty about U.S. Federal Reserve's interest-rate stance and fears that Argentina's debt default might signal broader instability.

Dow Jones Industrial Average e-mini futures were down 0.18 percent at 0715 ET on Tuesday, while S&P 500 e-mini futures were down 0.25 percent. Nasdaq 100 e-mini futures were down 0.24 percent.

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

TOP STORIES

PetroChina plans to pay the more than $1 billion it needs to complete a takeover of the Dover oil sands project from Athabasca Oil Corp by the end of September, a person with knowledge of the deal told Reuters.

Sycamore Partners, which recently bought Jones Group, Talbots and Hot Topic, is considering a bid for Sears Canada Inc , the New York Post reported, citing a person familiar with the matter.

BlackBerry Ltd has concluded a protracted and painful restructuring process and is back on a growth footing, according to an internal memo to all its employees viewed by Reuters.

China is investigating a Canadian couple who ran a coffee shop on the Chinese border with North Korea for the suspected theft of military and intelligence information and for threatening national security, the country's foreign ministry said.

COMMODITIES AT 0715 ET

Gold futures : $1,290.7; +0.21 pct

US crude : $98.57; +0.28 pct

Brent crude : $105.58; +0.16 pct

LME 3-month copper : $7,106.00; -0.34 pct

ANALYST RESEARCH HIGHLIGHTS

Canyon Services Group : CIBC upgrades to "sector outperformer" from "sector performer"

Surge Energy : Canaccord Genuity downgrades to "hold"; raises price target to C$8.50 from C$8.00

Fortis Inc : CIBC raises rating to "sector outperformer"; target price to C$37 from C$35

Prometic Life Sciences Inc : Panmure starts coverage with "buy" rating, target of C$1.95

U.S. ECONOMIC DATA DUE ON TUESDAY

0855 Redbook mm: Prior -0.6 pct

0855 Redbook yy: Prior +3.0 pct

0945 Markit composite final PMI for July: Prior +61.00

0945 Markit services PMI final F for July: Prior +61.00

1000 Durables Ex-def, R mm for June: Prior +0.7 pct

1000 Durable goods, R mm for June: Prior +0.7 pct

1000 Factory orders mm for June: Expected +0.6 pct, prior -0.5 pct

1000 Durables ex-transport R mm for June: Prior +0.8 pct

1000 Non defense cap ex-air R mm for June: Prior +1.4 pct

1000 Factory ex-transport mm for June: Prior -0.1 pct

1000 IBD economic optimism for August: Prior +45.6

1000 ISM non-manufacturing PMI for July: Expected +56.3, prior +56.0

1000 ISM non-manufacturing business activity for July: Expected +58.1, prior +57.5

1000 ISM non-manufacturing employment index for July: Prior +54.4

1000 ISM non-manufacturing new orders index for July: Prior +61.2

1000 ISM non-manufacturing price paid index July: Prior +61.2

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 = $1.09 Canadian) (Reporting by Mononshila Deka in Bangalore; Editing by Joyjeet Das)