CANADA STOCKS-TSX may open higher on central bank hopes

Tue Sep 4, 2012 8:28am EDT
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Sep 4 (Reuters) - Canada's main stock index looked set to open higher after a long holiday weekend, helped by optimism that the U.S. Federal Reserve and European Central Bank will soon take action to stimulate their struggling economies.


* Valeant Pharmaceuticals International Inc agreed on Monday to buy Medicis Pharmaceutical Corp for $2.6 billion in cash, in a deal that will add Botox competitor Dysport and other skin care drugs to its portfolio.

* Purchases of short term sovereign bonds by the European Central bank would not breach European Union rules, the ECB's President Mario Draghi told European lawmakers on Monday, according to a recording obtained by Reuters.

* Cenovus Energy Inc said it started producing oil from the fourth phase of its Christina Lake oil sands project in Alberta about three months ahead of schedule. * The Swiss economy unexpectedly shrank in the second quarter as the euro zone crisis caught up with a country that had seemed relatively immune to its neighbors' woes, providing further justification for the central bank's cap on the strong franc.

* German Finance Minister Wolfgang Schaeuble told his Greek counterpart Yannis Stournaras at meeting on Tuesday that Athens must fully implement promised reforms in order to receive further aid from its international lenders.


* Canada stock futures traded up 0.09 percent   Continued...