CANADA STOCKS-TSX set to open higher

Thu Aug 7, 2014 7:27am EDT

Aug 7 (Reuters) - Stock futures pointed to a higher opening for Canada's main stock index on Thursday, with September futures on the S&P TSX index <0#SXF:> up 0.16 percent at 0715 ET.

June data for building permits is due at 0830 ET and July data for Ivey PMI is due at 1000 ET.

The TSX index closed little changed on Wednesday as the impact of concerns that Russia might move troops into Ukraine was offset by gains in shares of Tim Hortons Inc and gold producers.

Dow Jones Industrial Average e-mini futures were up 0.14 percent at 0715 ET, while S&P 500 e-mini futures were up 0.18 percent. Nasdaq 100 e-mini futures were up 0.08 percent. (Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)

TOP STORIES

Oil and gas company Canadian Natural Resources Ltd reported a higher-than-expected quarterly profit, helped by a jump in product sales and an increase in prices across the board.

Telecom company BCE Inc posted a 6 percent increase in second-quarter profit, driven by higher advertising and subscriber fee revenue from its acquisition of TV and radio content producer Astral Media.

Manulife Financial Corp said its second-quarter profit more than tripled due to a stronger performance by investments and other market-related factors, and Canada's biggest life insurer raised its dividend for the first time since 2009.

Air Canada posted a quarterly profit compared with a year-earlier loss, helped by a C$41 million tax gain and strong performance at its low-cost carrier, Rouge.

COMMODITIES AT 0715 ET

Gold futures : $1,305.60; -0.08 pct

US crude : $96.65; -0.28 pct

Brent crude : $104.40; -0.18 pct

LME 3-month copper : $6,982; +0.17 pct

ANALYST RESEARCH HIGHLIGHTS

Cineplex Inc : Canaccord Genuity raises rating to "buy" from "hold"

Tim Hortons Inc : Canaccord Genuity raises target price to C$62 from C$58; rating "hold"

New Flyer Industries : Canaccord Genuity raises to "buy" from "hold"

Franco-Nevada : BMO raises target price to C$75 from C$70; rating "outperform"

U.S. ECONOMIC DATA DUE ON THURSDAY

0830 Initial jobless claims: Expected +305,000, prior +302,000

0830 Jobless claims 4-week average: Prior +297,250

0830 Continued jobless claims: Expected +2.512 mln, prior +2.539 mln

1500 Consumer credit for June: Expected +18.55 bln, prior +19.60 bln

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 Kirti Pandey)

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