CANADA STOCKS-TSX may open lower as U.S. debt default feared

Thu Jul 28, 2011 8:33am EDT
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July 28 (Reuters) - Toronto's main stock index looked set to open lower on Thursday as growing fears about a U.S. debt default drove investors away from riskier assets.


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

* U.S. stock index futures rose after Wall Street suffered its worst day in eight weeks, but the session was predicted to be volatile ahead of a key vote later in the day on a bill to cut the U.S. deficit. [.N]

* European stocks retreated in early trade, falling for the fourth straight session as a raft of disappointing earnings and downbeat comments sparked fears about the outlook for company profits. [.EU]

* Asian markets fell as sovereign debt risks weighed on sentiment. ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ To receive an early e-mail of Reuters Morning News Call - Canada -- a preview of market moving news -- Thomson Reuters subscribers can register at [CA/MNC] ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^


* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, fell 0.11 percent in early trade.

* Brent oil rose above $118 as a storm heading toward the Gulf of Mexico raised the threat of supply disruption and wary traders waited to see whether the United States could break a political deadlock over its debt limit. [O/R]   Continued...