CANADA STOCKS-TSX may open higher, Europe worries linger

Tue Apr 24, 2012 9:06am EDT
 
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April 24 (Reuters) - Toronto's main stock index looked set for a higher open on Tuesday after a successful Dutch debt auction, but gains could be limited as investors remained cautious about the euro zone situation.

TOP STORIES

* Dutch long-term borrowing costs crept up at a bond sale on Tuesday after the government collapsed in a crisis over budget cuts but there was good demand from investors attracted by its top-notch credit rating.

* Diversified miner Teck Resources reported a 13 percent increase in quarterly operating earnings on Tuesday, as strong coal pricing and volumes more than offset the impact of a sharp decline in copper, zinc and lead prices.

* Royal Dutch Shell has agreed to buy Cove Energy for 1.12 billion pounds ($1.8 billion), lifting its offer to access East Africa's huge gas reserves, but failing to quell hopes of a bid battle for the Mozambique-focused explorer.

* Canadian National Railway said its full-year earnings would come in at the top end of an earlier forecast after a mild winter and improving economy helped it lift first-quarter earnings by 16 percent, beating market expectations.

* Celestica Inc, a contract electronics manufacturer, posted a 44 percent rise in first-quarter net profit and said customer demand is stabilizing.

* Canadian property manager FirstService Corp posted a surprise first-quarter loss as revenue fell by a fourth in its property services segment.   Continued...