CANADA STOCKS-TSX may open higher ahead of Draghi's conference

Thu Sep 6, 2012 8:35am EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

Sep 6 (Reuters) - Toronto's main stock index looked set to open higher, tracking global markets, on expectations the European Central Bank will announce new tactics to help bring down borrowing costs of some indebted countries.


* European Central Bank chief Mario Draghi faces the most decisive moment of his presidency when he tries to heal divisions among policymakers and deliver on his promise to save the euro.

* The Bank of England stuck to its current policy of government bond purchases on Thursday as Britain's recession appears to be easing and hopes are running high for a sweeping move by the European Central Bank to ease the euro zone crisis.

* Strong exports limited the euro zone's economic contraction in the second quarter of this year despite falling investment, inventories and private consumption that point to output shrinking overall in 2012.

* Descartes Systems Group Inc, which develops software for companies to manage their inventories and truck fleets, reported a 4 percent fall in quarterly profit on acquisition related costs.

* Harry Winston Diamond Corp reported a 52 percent drop in its quarterly profit late on Wednesday, largely due to declines in rough diamond prices and a decrease in the volume of carats sold.

MARKET SNAPSHOT   Continued...