CANADA STOCKS-TSX may open higher as central banks ease policy

Thu Jul 5, 2012 8:33am EDT
 
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July 5 (Reuters) - Toronto's main stock index looked set to open higher after the People's Bank of China, Bank of England and the European Central Bank all moved to shore up their economies by cutting interest rates or providing more stimulus.

TOP STORIES

* The European Central Bank cut its main interest rate to a record low of 0.75 percent and its deposit rate to zero on Thursday to help tackle the euro zone crisis that threatens to push the bloc's deteriorating economy back into recession.

* China's central bank cut interest rates for the second time in two months in the latest attempt to bolster slowing growth in the world's second-largest economy.

* The Bank of England launched a third round of monetary stimulus on Thursday, announcing it would restart its printing presses and buy 50 billion pounds of asset purchases with newly created money to help the economy out of recession.

* Spain sold 3 billion euros of medium- and long-term debt, at the top end of its target, though doubt over the details of an European accord forced the Treasury to pay the highest rate for its 10-year bond since November.

MARKET SNAPSHOT

* Canada stock futures traded up 0.35 percent   Continued...