CANADA STOCKS-TSX may open lower, banks in focus

Thu Aug 30, 2012 8:26am EDT
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Aug 30 (Reuters) - Toronto's main stock index looked set to open lower, tracking global markets, on uncertainty over the next moves by central banks and the outlook for the global economy.

Financial stocks will be in focus after three of Canada's major banks reported strong quarterly results.


* Royal Bank of Canada profit rose 73 percent in the fiscal third quarter, topping estimates on the back of higher loan volumes and fixed-income trading results, prompting the bank to unexpectedly raise its quarterly dividend.

* Toronto-Dominion Bank's quarterly profit rose 14 percent, driven by a sharp jump in trading-related revenue, and the bank raised its quarterly dividend.

* The Canadian Imperial Bank of Commerce's quarterly profit rose 42 percent, driven by higher lending volumes, the No. 5 bank said.

* Britain's Barclays has picked softly spoken retail boss Antony Jenkins as its new chief executive to fill the shoes left by Bob Diamond, the colorful American investment banker who resigned after a rate-rigging scandal.

* China is prepared to buy more EU government bonds amid a worsening European debt crisis that is dragging on the world economy, Premier Wen Jiabao said, in the strongest sign of support for its biggest trading partner in months.   Continued...