CANADA STOCKS-TSX may open lower despite strong German and British data

Tue Aug 6, 2013 8:24am EDT
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August 6 (Reuters) - Canada's main stock market looked set to open lower on Tuesday after a long weekend as strong factory data from Germany and Britain failed to impress markets. TOP STORIES

* British manufacturing grew much more strongly than expected in June, suggesting the country's recovery is broadening just as the Bank of England prepares to set out its plan for steering the economy back to health.

* Japan's Sony Corp rejected a proposal from activist shareholder Daniel Loeb to partially spin off its entertainment business but the billionaire investor vowed to keep talking with the company and to explore other options.

* Dish Network Corp reported a second-quarter net loss due to a $438 million charge related to satellite acquisitions.

* Cognizant Technology Solutions Corp reported better-than-expected quarterly results as revenue from Europe excluding the UK jumped 54 percent, and the IT services provider raised its forecast for the year.

* CVS Caremark Corp posted a higher second-quarter profit, helped by its pharmacy benefits management business, where sales growth narrowly outpaced that of its drugstores.MARKET SNAPSHOT

* Canada stock futures traded down 0.43 percent

* U.S. stock futures , , were mixed around -0.21 percent to 0.08 percent

* European shares, were mixed COMMODITY PRICE MOVES   Continued...