CANADA STOCKS-TSX may open higher; Fed, German court eyed

Tue Sep 11, 2012 8:43am EDT
 
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Sep 11 (Reuters) - Canada's main stock index looked set to open higher on speculation the Federal Reserve will announce another bond buying program this week, despite some caution ahead of a German ruling on the euro zone's new bailout fund.

TOP STORIES

* Germany's Constitutional Court will go ahead with a long-awaited ruling on Wednesday on the legality of the euro zone's new permanent bailout fund and budget rules, despite a last-minute legal challenge by a member of parliament.

* Deutsche Bank will not ask its shareholders for new capital but instead shrink its balance sheet and cut costs to meet stricter regulations, it said, pleasing investors who pushed the stock up over one percent.

* The U.S. government cut its stake in American International Group Inc to about 21.5 percent, making a profit of $12.4 billion on the insurer's crisis-era bailout and bringing the unpopular rescue closer to its end.

* Philips Electronics stepped up its cost-cutting drive and said more jobs would go as part of a drastic overhaul of its business, which began to turn around in the first half after losing 1.3 billion euros in 2011.

* The next generation iPhone 5, which Apple Inc. plans to release this week, could not only boost the tech giant's bottom line - but could give a significant boost to the overall U.S. economy.

MARKET SNAPSHOT

* Canada stock futures traded up 0.44 percent   Continued...