CANADA STOCKS-TSX poised to open lower

Tue Jul 8, 2014 7:25am EDT
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July 8 (Reuters) - Canadian stocks looked set to open lower on Tuesday with June futures on the S&P TSX index <0#SXF:> down 0.15 percent at 0715 ET.

The index fell on Monday, pulled lower by a selloff in telecom providers' shares following news of a new spectrum auction and a drop in the energy sector after oil prices slipped.

Dow Jones Industrial Average e-mini futures were down 0.09 percent at 0715 ET, while S&P 500 e-mini futures were down 0.11 percent. Nasdaq 100 e-mini futures were down 0.04 percent.

No major Canadian economic data is due for release. (Morning News Call newsletter; The Day Ahead newsletter


Pharmacy chain Jean Coutu Group Inc reported higher quarterly sales, helped by demand for its high-margin generic drugs and the expansion of its network of franchised stores.

Fewer Canadian firms expect to have difficulty meeting a surge in demand than did in the first quarter, the Bank of Canada said on Monday in a sign that pressures on production capacity are lessening rather than building.

William Ackman's Pershing Square Capital Management proposed on Monday a slate of six directors for the board of Allergan Inc as the hedge fund presses forward with its $53 billion takeover bid with Valeant Pharmaceuticals International Inc for the Botox maker.

COMMODITIES AT 0715 ET   Continued...