CANADA STOCKS-TSX may rise after solid Spanish auction

Thu Apr 19, 2012 8:42am EDT
 
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April 19 (Reuters) - Toronto's resource heavy main stock index looked set to open higher on Thursday after a better-than-expected Spanish auction eased concerns about Europe's debt crisis and boosted appetite for riskier assets.

But the news was partly offset by a report showing new U.S. claims for unemployment benefits fell less than expected last week.

TOP STORIES

* France and Spain sold all the bonds they wanted at auction, though for Spain the cost was rising yields, indicating growing concerns the government will not be able to tame its deficit.

* New U.S. claims for unemployment benefits fell less than expected last week, according to a government report on Thursday that could dampen hopes of a pick-up in job creation in April after March's slowdown.

* African Barrick Gold, a unit of Barrick Gold Corp reported a 17 percent fall in quarterly output, partly due to lower ore quality at its Buzwagi mine in Tanzania, prompting fears that the company might hit the low end of its full-year production outlook.

* Bank of America Corp reported a drop in first-quarter profits as the second-largest U.S. bank took accounting charges related to its debt.

* Human Genome Sciences Inc said it had rejected an unsolicited bid worth around $2.6 billion from long-time partner GlaxoSmithKline, marking a new takeover battle in a drugs sector that has been swept by M&A recently.   Continued...