CANADA STOCKS-TSX may open lower on Fed's stimulus view

Thu Jul 12, 2012 8:27am EDT
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July 12 (Reuters) - Canada's main stock index looked set to open lower, after minutes from the recent U.S. Federal Reserve meeting dampened hopes of risk-asset-boosting stimulus in the near term.


* The European Central Bank's new zero deposit rate had an instant impact as it came into force, with banks more than halving the amount of cash parked there overnight and one ECB policymaker saying he expected the move to increase banks' lending.

* The U.S. Federal Reserve is open to buying more Treasury bonds to stimulate the economy, but the recovery might need to weaken for a consensus to build, minutes from the central bank's June meeting released showed.

* China's economy may have grown around 7.5 percent in the second quarter and nearly 8 percent in the first half, and will recover steadily in the second half as policy stimulus gains traction, a senior economist at the cabinet's think-tank said on Thursday.

* Recession-plagued Spain unveiled new austerity measures on Wednesday designed to slash 65 billion euros from the public deficit by 2014 as Prime Minister Mariano Rajoy yielded to EU pressure to try to avoid a full state bailout.

* Cogeco Cable Inc, the main unit of media and telecom company Cogeco Inc, posted a modestly higher third-quarter profit from continuing operations as revenue rose 7.2 percent.


* Canada stock futures traded down 0.67 percent   Continued...