CANADA STOCKS-TSX to edge lower at open, focus on Fed decision

Thu Sep 13, 2012 8:27am EDT
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Sept 13 (Reuters) - Canada's resource heavy main stock index looked set to open lower on Thursday, with investors focusing on the outcome of the U.S. Federal Reserve meeting that might help revive the world's largest economy.


* The U.S. Federal Reserve appears set to launch a third round of unconventional monetary stimulus while signaling that a weak U.S. economy may warrant ultra-low interest rates for at least another three years.

* Economic growth in the euro zone economy is expected to remain weak and "heightened uncertainty" is weighing on confidence, the European Central Bank said on Thursday in its monthly bulletin, adding that inflation expectations remained firmly anchored.

* Apple Inc's new iPhone goes on sale on Friday with a bigger screen and 4G wireless technology, as the company seeks to safeguard its edge over rivals like Samsung Electronics Co Ltd and Google Inc.

* Empire Co Ltd, parent of Canada's Sobeys grocery chain, reported a 22 percent rise in first-quarter profit on higher sales.

* Canadian travel operator Transat AT Inc posted a third-quarter profit as costs fell.

MARKET SNAPSHOT   Continued...