CANADA STOCKS-TSX may open higher on expectation of ECB action

Tue Aug 7, 2012 8:40am EDT
 
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Aug 7 (Reuters) - Canada's main stock index looked set to open higher on Tuesday, as markets remained optimistic that the European Central Bank was edging towards a new plan to resolve the region's crisis and prevent the collapse of the euro.

TOP STORIES

* Enbridge Inc. : The pipeline operator plans to restart a pipeline that leaked more than 1,000 barrels of crude onto a Wisconsin field after receiving the green light from U.S. regulators.

* Harry Winston : BHP Billiton is in talks with the Canadian mining and retail group about a sale of its diamond business, the Financial Times reported.

* Canadian oil exploration and production company Gran Tierra Energy Inc's quarterly profit fell nearly 59 percent as production was hit by pipeline disruptions.

* A massive fire struck at the core of Chevron Corp's large Richmond, California, refinery on Monday, spewing flames and a column of smoke into the air, threatening a prolonged outage that may increase prices of the costliest U.S. gasoline.

* Anglo-Swiss miner Xstrata, in the throes of a $26 billion takeover bid, posted a smaller-than-expected 31 percent drop in first-half profit as cost cuts helped cushion the impact of weaker prices and reduced copper production.

MARKET SNAPSHOT   Continued...