June 5, 2014 / 11:34 AM / 3 years ago

CANADA STOCKS-TSX poised to open lower

3 Min Read

June 5 (Reuters) - Canadian stocks looked set to open lower on Thursday, with June futures on the S&P TSX index <0#SXF:> down 0.18 percent at 0715 ET.

The index rose to its highest in almost six years on Wednesday, boosted by positive data on U.S. services sector growth and a decision by the Bank of Canada to leave interest rates unchanged.

Dow Jones Industrial Average e-mini futures were up 0.12 percent at 0715 ET, while S&P 500 e-mini futures were up 0.04 percent and Nasdaq 100 e-mini futures were down 0.04 percent.

Canadian building permits data is due at 0830 ET and Ivey PMI data at 1000 ET.

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

Top Stories

The Bank of Canada held its main interest rate at 1 percent on Wednesday and said the risks of low inflation loom as large as ever despite a faster-than-anticipated rise in prices, remarks that some economists interpreted as being dovish.

The outlook for the Canadian dollar has improved over the last month, a Reuters poll showed, as a central bank that is unlikely to significantly alter its course is expected to keep the currency hemmed in a slim trading range.

Canadian natural gas and electricity retailer Just Energy Group Inc said it would sell its Ontario-based water heater and air conditioning home services business for $505 million to pay down debt.

Commodities at 0715 Et

Gold futures : $1,243.5; -0.04 pct

US crude : $102.31; -0.32 pct

Brent crude : $108.07; -0.3 pct

LME 3-month copper : $6,784.75; unchanged

Analyst Research Highlights

B2Gold Corp : CIBC cuts target price to C$4.50 from C$5; sector outperformer

Canaccord Genuity : KBW, CIBC raises price target on the stock

Laurentian Bank of Canada : Barclays, NBF, Canaccord Genuity raise target price

u.s. Economic Data Due on Thursday

0830 Initial jobless claims: Expected +310,000, prior +300,000

0830 Jobless claims 4-week Average: Prior +311,500

0830 Continued jobless claims: Expected +2.625 mln, prior +2.631 mln

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 Saumyadeb Chakrabarty

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