CANADA STOCKS-TSX may open higher on German court ruling

Wed Sep 12, 2012 8:44am EDT
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Sep 12 (Reuters) - Toronto's main stock index looked set to open higher, in-line with global markets, after Germany's top court gave its backing to the euro zone's new rescue fund and budget pact subject to certain conditions.


* Germany's Constitutional Court said on Wednesday the country can ratify the euro zone's new rescue fund and budget pact as long it can guarantee there will be no increase in German financial exposure to the bailout fund without parliament's approval.

* Chesapeake said it will sell the most of its Permian Basin properties, substantially all of its midstream assets and certain non-core leasehold for about $6.9 billion in cash.

* Canadian dollar-store operator Dollarama Inc reported a 32 percent increase in second-quarter profit on higher sales and lower costs.

* Canadian oil and gas producer Petrominerales Ltd said it found oil in one of its wells at Corcel Block in Colombia's Deep Llanos Basin, and it would drill three more wells in the area.

MARKET SNAPSHOT   Continued...