CANADA STOCKS-TSX may open lower as Europe and China data weigh

Thu Jun 21, 2012 8:50am EDT
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June 21 (Reuters) - Canada's resource-heavy main stock index looked set to open lower on Thursday on a fall in commodity prices, as weak economic data from China and Germany added to investors' woes after the U.S. Federal Reserve on Wednesday dashed hopes of a new round of quantitative easing.


* The downturn in the euro zone's private sector is becoming entrenched and Chinese factories are finding the going increasingly tough, business surveys showed on Thursday, painting a darker outlook for the world economy.

* Spain's Treasury sold 2.2 billion euros in medium-term bonds with yields on the 5-year paper rising to 15-year highs, hours before the government is expected to finalize a multi-billion euro rescue package for its banks.

* The Federal Reserve on Wednesday delivered another round of monetary stimulus and said it was ready to do even more to help a U.S. economic recovery that looks increasingly fragile.

* Angela Merkel's government and the opposition reached an agreement on Thursday on economic growth measures for Europe that will allow Germany's parliament to approve the permanent bailout scheme for the euro zone and the fiscal pact next week.

* Drugmaker Valeant Pharmaceuticals International Inc said it expects 2012 results to be at the top end of its previous forecast range.