CANADA STOCKS-TSX set to open higher, EU worries might cap gains

Tue Jun 26, 2012 8:24am EDT
 
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June 26 (Reuters) - Toronto's main stock index looked set to open higher, after sharp sell-off in the previous session, although Europe's spiraling debt worries and the grim outlook for Spain might keep a lid on gains.

TOP STORIES

* Barrick Gold Corp appointed Ammar Al-Joundi as chief financial officer to fill in the position left vacant when Jamie Sokalsky became the chief executive of the world's biggest gold miner earlier this month. Al-Joundi will rejoin Barrick next month from Agnico-Eagle Mines Ltd.

* The euro zone could create a treasury for the single currency and issue euro bonds as the final stage of a fiscal union which could take years to construct, according to a document prepared for this week's summit of euro zone leaders.

* The finance ministers of Germany, France, Italy and Spain will meet in Paris on Tuesday evening as the euro zone's top four members try again to resolve their differences ahead of a European Union summit later in the week.

* Spain's short-term borrowing costs nearly tripled at auction on Tuesday, underlining the country's precarious finances as it struggles against recession and juggles with a debt crisis among its newly downgraded banks.

* Consumer morale in Germany unexpectedly edged up going into July on improving income expectations, but worries over the euro zone crisis risk hurting consumption in the months ahead, a survey by GfK market research group showed on Tuesday.

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