CANADA STOCKS-TSX may open higher on Europe hopes

Tue Jul 10, 2012 8:40am EDT
 
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July 10 (Reuters) - Canada's main stock index looked set to open higher on speculation that Germany will provide more flexibility to use European bailout funds and as European Central Bank President Mario Draghi kept the door open to further interest rate cuts.

TOP STORIES

* Euro zone ministers struggled to reassure financial markets on Tuesday that an aid package for Spain they outlined overnight will help stabilize the currency bloc - a task made all the harder by a German legal challenge to its crisis-fighting tools.

* China's June trade data on Tuesday stoked anxiety about the strength of domestic demand in the world's second biggest economy as imports rose at only half the pace expected, signaling a need for Beijing to do more to bolster growth.

* The European debt crisis and disappointing growth in the United States and China are worrisome, but U.S. monetary policy is correct as it stands, a top U.S. Federal Reserve policymaker said.

* Barclays ex-Chief Executive Bob Diamond will forego his bonus this year and waive all of his unvested deferred bonus awards and long-term share awards, Barclays said on Tuesday.

* Canadian pharmacy chain Jean Coutu Group Inc reported a higher first-quarter profit on a gain related to the sale of its stake in Rite Aid drug stores.

MARKET SNAPSHOT

* Canada stock futures traded up 0.36 percent   Continued...