CANADA STOCKS-Strong bank results could boost market

Tue Aug 28, 2012 8:15am EDT
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Aug 28 (Reuters) - Canada's main stock index looked set to open higher on Tuesday after two major banks reported stronger-than-expected quarterly results, while the market remained focused on a crucial meeting of central bankers later in the week.


* Bank of Montreal reported a 37 percent jump in quarterly profit, topping expectations, and the company raised its quarterly dividend.

* Bank of Nova Scotia profit rose 57 percent in the fiscal third quarter, helped by a C$614 million gain from the sale of its corporate headquarters in Toronto, it said.

* European Central Bank President Mario Draghi will not attend the annual Jackson Hole meeting of central bankers at the end of this week due to a heavy workload, the ECB said on Tuesday as its policymakers gear up for a critical meeting on Sept. 6.

* The Spanish economy shrank 0.4 percent in the second quarter on a quarterly basis as forecast in a flash estimate and after shrinking by 0.3 percent in the first quarter, final official data showed on Tuesday.

* Japan's government cut its assessment for the export-reliant economy on Tuesday for the first time since October 2011, as slowing global growth weighed on exports and factory output, and threatened recovery prospects.


* Canada stock futures traded up 0.2 percent   Continued...