CANADA STOCKS-TSX may open higher on hope for strong earnings

July 14 (BestGrowthStock) – Toronto’s main stock heavy index could
open higher on Wednesday on growing optimism that
second-quarter company results will top expectations.

Wall Street is also set for a higher start, setting the
stage for a seventh straight day of gains, after technology
bellwether Intel (INTC.O: ) reported better-than-expected
quarterly earnings. [.N]

Canadian equity futures pointed to a stronger open.
(0#SXF:: )

European shares turned negative, with banks losing ground
on concerns about stringent rules for the sector. Most Asian
stocks rose with the Nikkei closing 2.71 percent up.

Here is some news that could affect stock prices:


Oil eased to below $77 a barrel on Wednesday, falling from
a two-week high, after a weekly industry report showed a
surprise increase in U.S. crude inventories and European
equities turned lower. [O/R]


Copper climbed higher on Wednesday, boosted by higher
equity markets and a stronger euro on the back of an
improvement in risk appetite, while a hefty drop in copper
inventories have also offered support. [MET/L]


Gold consolidated above $1,210 an ounce in Europe on
Wednesday after rising 1 percent in the last session on the
back of resurgent fears over euro zone debt levels, with a
retreat in risk aversion capping gains. [GOL/]


The Canadian dollar softened against the greenback on
Wednesday, as investors took their cue to sell growth-related
currencies from weaker European markets and easing oil prices.

Canadian stocks to watch include:


U.S. teen apparel retailer Zumiez Inc (ZUMZ.O: ) said on
Wednesday it is no longer interested in buying Canada’s West 49
Inc (WXX.TO: ) due to disagreements on the terms of the due
diligence process, handing a victory to rival bidder,
Australia’s Billabong International Ltd (BBG.AX: ).


Corus Entertainment (CJRb.TO: ) reported a quarterly profit
on Wednesday, citing strengthening advertising sales in both
its television and radio segments. [ID:nN13265871]


Sprott Inc (SII.TO: ), one of Canada’s best-known fund
managers, said on Tuesday Peter Grosskopf will take over as
chief executive effective Sept. 7. [ID:nSGE66C0IU]


Canada’s ISE Ltd (ISE.TO: ) said its ability to continue as a
going concern is dependent on securing additional capital,
barely four months after the company went public.


Canada’s Pulse Seismic Inc (PSD.TO: ) said on Wednesday it
raised the cash portion of its planned acquisition of certain
assets from Divestco Inc (DVT.TO: ) by about 11 percent and
amended some other terms, in response to an unsolicited
competing offer. [ID:nSGE66D0FX]


Following is a summary of research actions on Canadian
companies reported by Reuters. [RCH/CA]

* Alamos Gold Inc (AGI.TO: ) price target raised to C$15.85
from C$14.80; rating hold at Canaccord Genuity

* Canadian National Railway (CNR.TO: ) rating raised to
outperform from market perform; price target raised to C$70
from C$67 at Raymond James

* Guyana Goldfields Inc (GUY.TO: ) rating started with
outperform and C$9 target price at Raymond James

($1=$1.03 Canadian)

(Reporting by Bangalore newsroom, editing by Bhaswati
Mukhopadhyay and Jeffrey Hodgson)

CANADA STOCKS-TSX may open higher on hope for strong earnings