CANADA STOCKS-TSX may open lower on central bank worries, Lululemon

Tue Jun 11, 2013 8:52am EDT
 
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June 11 (Reuters) - Canadian stocks were expected to open lower on Tuesday, hurt by worries that major central banks could soon end an era of ultra-loose monetary policy, after the Bank of Japan left monetary policy unchanged and as the European Central Bank faced a legal challenge over its bond-buying program.

Shares of Lululemon Athletica were also expected to weigh after the company said on Monday that Chief Executive Christine Day will step down once it finds a replacement.

TOP STORIES

* Encana Corp, Canada's biggest natural gas producer, on Tuesday named former BP Plc executive Doug Suttles as its new chief executive officer.

* The head of Germany's Constitutional Court said that the success of the European Central Bank's bond-buying program in restoring calm to the euro zone would have no impact on its ruling of whether the scheme is constitutional or not.

* Bank of Japan Governor Haruhiko Kuroda said the central bank will consider fresh steps to calm markets if borrowing costs spike again in the future, but the central bank held off on new measures arguing that bond markets had stabilized.

* Japanese mobile operator SoftBank Corp said it agreed with Sprint Nextel Corp to raise its offer for the U.S. wireless carrier to $21.6 billion from $20.1 billion, as it fights off a counter bid by Dish Network Corp.

* Sony Corp on Monday priced its latest PlayStation 4 console $100 lower than the new Xbox One by rival Microsoft Corp as competition for gamers' pockets intensifies ahead of the year-end holidays and gift-giving season.   Continued...