CANADA STOCKS-TSX poised to open lower

Thu Jun 5, 2014 7:25am EDT
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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.

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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.   Continued...