CANADA STOCKS-TSX may open lower on Cyprus bailout woes

Mon Mar 18, 2013 8:08am EDT
 
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March 18 (Reuters) - Toronto's main stock index looked set to open lower after a European decision to include a tax on bank deposits in a bailout of Cyprus sent shockwaves through financial markets.

TOP STORIES

* Cypriot ministers rushed to revise a plan to seize money from bank deposits as part of an EU bailout, in an effort to ensure lawmakers supported it in a vote later in the day.

* Standard and Poor's sees a high risk that Spain, Italy, Portugal and France will not be able to carry through necessary reforms as the unemployed become less willing to put up with austerity, S&P's Germany head Torsten Hinrichs told a newspaper.

* Europe's Airbus has landed a record order potentially worth $20 billion from Indonesia's Lion Air, sources familiar with the matter said on Sunday, smashing rival Boeing's grip on one of the world's fastest-growing airlines.

* STMicroelectronics and Ericsson will close their loss-making mobile chip joint venture ST-Ericsson by dividing parts of the business between them and shutting the rest with the loss of about 1,600 jobs.

MARKET SNAPSHOT

* Canada stock futures traded down 0.42 percent

* U.S. stock futures , , were down around 0.8 percent   Continued...