CANADA STOCKS-TSX may open lower after Bernanke comments

Wed Jul 18, 2012 8:40am EDT
 
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July 18 (Reuters) - Canadian stocks looked set to open lower on Wednesday, dragged down by weaker commodities, after U.S. Federal Reserve Chairman Ben Bernanke gave little indication the central bank was close to launching fresh monetary stimulus.

TOP STORIES

* Russian miner Nord Gold, the country's third-largest gold producer, will bid for the 25 percent of High River Gold Mines it does not already own, in a deal valuing the Canadian-listed producer at $1.2 billion.

* Bank of America Corp reported a second-quarter profit as the second-largest U.S. bank cut costs and reduced reserves for loan losses.

* China home prices broke eight straight months of decline in June in a tentative sign that pro-growth policies are gaining traction in the world's second biggest economy, now in its longest sequential slowdown since the global financial crisis.

* Credit Suisse unveiled measures to boost its capital base by 15.3 billion Swiss francs, a move that was welcomed by a previously critical central bank and left some investors skeptical.

* Australia's Qantas Airways is the latest company to drop Research in Motion Ltd's Blackberry after employees voted in favor of Apple's iPhone in a survey.

MARKET SNAPSHOT

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