CANADA STOCKS-TSX may open higher, euro zone worries linger

Tue Jun 12, 2012 8:39am EDT
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June 12 (Reuters) - Toronto's main stock index was headed for a higher open on Tuesday, though markets remained wary ahead of Sunday's Greek elections and as investors assimilated news about the bailout plan for Spanish banks.


* Raising the stakes in Europe's debt crisis, Austria's finance minister said Italy, the euro zone's third economy, may need a financial rescue because of its high borrowing costs.

* European finance officials have discussed limiting the size of withdrawals from ATM machines, imposing border checks and introducing euro zone capital controls as a worst-case scenario should Athens decide to leave the euro.

* NetJets, a private jet-sharing company owned by Warren Buffett's Berkshire Hathaway Inc, said on Monday it would buy up to 425 new business jets from Bombardier Inc and Cessna in a deal worth $9.6 billion to expand its North American and European fleet.

* Canadian fertilizer maker and farm products retailer Agrium Inc said it expects its second-quarter earnings to be at or near the top of its forecast range due to higher prices for some of its wholesale fertilizer products.

* Canadian Pacific Railway : The railroad, whose CEO and chairman both quit last month after a bitter proxy battle, said board member David Raisbeck has decided to resign, citing personal reasons. The vacancy caused by his departure would not be filled, the company said in a statement.

MARKET SNAPSHOT   Continued...