TSX set for lower open, Greece and miners eyed

Tue Feb 7, 2012 8:15am EST
 
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Feb 7 (Reuters) - Canada's main stock index was set for a lower open on Tuesday, as worries about Greece's ability to secure a bailout in time to avoid a messy default weighed on sentiment.

FACTORS TO WATCH

* Canadian equity futures <0#SXF:> pointed to a lower open.

* U.S. stock index futures fell, indicating equities may fall for a second straight session, as talks to secure a new bailout for Greece and avoid an unruly default had yet to bear fruit.

* European shares fell, after disappointing earnings reports from UBS and Alfa Laval and as Greece remained in danger of failing to secure a new bailout.

* At least two top 10 shareholders in miner Xstrata said they would vote against a takeover by commodities trader Glencore, threatening the creation of a powerhouse spanning mining, agriculture and trading. ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ To receive an early e-mail of Reuters Morning News Call - Canada -- a preview of market moving news -- Thomson Reuters subscribers can register at ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

COMMODITY PRICE MOVES

* The Thomson Reuters-Jefferies CRB index, a global commodities benchmark, fell 0.45 percent in early trade.   Continued...