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CANADA STOCKS-TSX set to start big earnings week little changed
July 28, 2014 / 11:21 AM / 3 years ago

CANADA STOCKS-TSX set to start big earnings week little changed

July 28 (Reuters) - Canadian stocks looked set to start a heavy earnings week little changed, as fresh rounds of European sanctions on Russia weighed on investor sentiment.

September futures on the S&P TSX index <0#SXF:> were up 0.03 percent at 0715 ET.

The index showed no signs of slowing its ascent into uncharted territory on Friday, with gold miners and banks helping it to another record close and a 1.2 percent gain in a week of all-time highs.

Dow Jones Industrial Average e-mini futures were down 0.02 percent at 0715 ET, while S&P 500 e-mini futures were down 0.04 percent. Nasdaq 100 e-mini futures were up 0.03 percent.

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

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

TOP STORIES

Germany will reject a multi-billion free trade deal between the European Union and Canada that is widely seen as a template for a bigger agreement with the United States, a leading German paper reported on Saturday.

Africa Oil Corp and partner Tullow Oil are likely to bring in a third partner to help develop their oil discoveries in northern Kenya, Africa Oil’s CEO said.

Silver bullion banks Deutsche Bank, Bank of Nova Scotia and HSBC have been accused of manipulating prices in the multi-billion dollar market in a lawsuit filed on Friday.

COMMODITIES AT 0715 ET

Gold futures : $1,304.1; +0.06 pct

US crude : $101.48; -0.6 pct

Brent crude : $107.44; -0.88 pct

LME 3-month copper : $7,136.50; +0.16 pct

ANALYST RESEARCH HIGHLIGHTS

Athabasca Oil : Raymond James cuts rating to market perform; price target to C$7.50 from C$10.50

Contrans Group Inc : NBF revises rating to tender from sector perform

Suncor Energy Inc : Barclays raises target price to C$58 from C$55; rating overweight

U.S. ECONOMIC DATA DUE ON MONDAY

0945 Markit comp flash PMI for July: Prior +61.10

0945 Markit services PMI flash for July: Expected +59.8, prior +61.0

1000 Pending homes index for June: Prior +103.9

1000 Pending sales change mm for June: Expected +0.5 pct, prior +6.1 pct

1030 Dallas Fed manufacturing business index for July: Prior +11.40

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 Ted Kerr

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