June 11, 2014 / 11:30 AM / in 3 years

CANADA STOCKS-TSX futures indicate lower open

June 11 (Reuters) - Canadian stocks looked set to open lower on Wednesday as investors avoided placing fresh bets in the absence of any broad market catalyst.

June futures on the S&P TSX index <0#SXF:> were down 0.16 percent at 0715 ET.

The TSX index climbed slightly to hit its highest in nearly six years on Tuesday, buoyed by a jump in gold-mining shares after the price of bullion gained.

There is no release of economic data scheduled for Wednesday.

Dow Jones Industrial Average e-mini futures were down 0.35 percent at 0715 ET, while S&P 500 e-mini futures were down 0.44 percent. Nasdaq 100 e-mini futures were down 0.39 percent.

(Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)

TOP STORIES

The battle for Allergan Inc heated up on Tuesday as the company officially rejected a sweetened $53 billion takeover offer from Valeant Pharmaceuticals International and activist investor William Ackman.

Bombardier Inc said on Tuesday that it had resumed ground engine testing of its all-new CSeries jetliner after an engine failure last week.

Canada is “disappointed” that TransCanada Corp’s Keystone XL pipeline to the United States has not yet received approval from the White House, Canadian Finance Minister Joe Oliver said on Tuesday. Separately, TransCanada said it expected to file an application for its C$12 billion Energy East pipeline with energy regulators in mid-August.

COMMODITIES AT 0715 ET

Gold futures : $1,262.2; +0.19 pct

US crude : $104.59; +0.23 pct

Brent crude : $110.04; +0.47 pct

LME 3-month copper : $6,671.25; -0.06 pct

ANALYST RESEARCH HIGHLIGHTS

Brookfield Renewable Energy Partners : National Bank Financial resumes coverage with sector perform

DHX Media Ltd : National Bank Financial raises price target to C$7.25 from C$6.50

Empire Co Ltd : National Bank Financial cuts price target to C$73 from C$75

U.S. ECONOMIC DATA DUE ON WEDNESDAY

1400 Federal budget for May: Expected -$131.0 bln, prior +$106.9 bln

FOR CANADIAN MARKETS NEWS, CLICK ON CODES:

TSX market report

Canadian dollar and bonds report

Reuters global stocks poll for Canada

Canadian markets directory ($1= $1.09 Canadian) (Reporting by Mononshila Deka in Bangalore; Editing by Kirti Pandey)

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