CANADA STOCKS-Futures point to higher open for TSX

Tue Aug 12, 2014 7:24am EDT

Aug 12 (Reuters) - Stock futures pointed to a higher opening for Canada's main stock index on Tuesday as investors focused on easing tensions between Ukraine and Russia.

September futures on the S&P TSX index <0#SXF:> were up 0.27 percent at 0715 ET.

Canada's main stock index rose on Monday as tensions appeared to cool in Ukraine and Gaza, driving gains in most major sectors.

Dow Jones Industrial Average e-mini futures were up 0.16 percent, S&P 500 e-mini futures were up 0.21 percent and Nasdaq 100 e-mini futures were up 0.23 percent. (Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)

TOP STORIES

The North Sea oil and gas operator Ithaca Energy Inc reported a pretax loss for the first half as costs soared.

Canada's Imperial Metals Corp faces huge cleanup costs after a major spill at its Mount Polley mine, which may force the miner to sell part of a prized new asset unless its biggest shareholder steps in to help, bankers and industry executives said.

The Nebraska Supreme Court will soon hear arguments in a dispute over the planned route for TransCanada Corp's Keystone XL pipeline, but a court ruling on the controversial project is likely to be delayed until the new year, lawyers and activists say.

COMMODITIES AT 0715 ET

Gold futures : $1,309.60; +0.08 percent

US crude : $97.26; -0.83 percent

Brent crude : $103.70; +0.94 percent

LME 3-month copper : $7,018; +0.33 percent

ANALYST RESEARCH HIGHLIGHTS

Cargojet Inc : Canaccord Genuity raises price target to C$25 from C$23; rating buy

Pembina Pipeline Corp : RBC raises price target to C$51 from C$48; rating outperform

TD Bank : CIBC raises price target to C$62 from C$58; rating sector outperformer

U.S. ECONOMIC DATA DUE ON TUESDAY

0855 Redbook mm: Prior -0.4 pct

0855 Redbook yy: Prior 4.6 Pct

1400 Federal Budget for July: Expected -$96 bln; Prior $71 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 = 1.11 Canadian dollar) (Reporting by Samarendra Sahoo in Bangalore; Editing by Kirti Pandey)

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