CANADA STOCKS-TSX may open higher, China GDP raises stimulus hopes

Fri Jul 13, 2012 8:39am EDT
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July 13 (Reuters) - Canada's resource-heavy main stock index looked set to open higher, mirroring global equity and commodity markets, after growth data from China soothed worries of a drastic hit to the world's No. 2 economy, but was low enough to keep open the possibility of further stimulus.


* JPMorgan Chase & Co, the biggest U.S. bank, posted $4.4 billion of credit trading losses, but said it had cleaned up the group responsible for the bad bets.

* China's growth rate slowed for a sixth successive quarter to its slackest pace in more than three years, highlighting the need for more policy vigilance from Beijing even as signs emerge that action taken so far is beginning to stabilize the economy.

* Italy passed a tough market test on Friday as its three-year borrowing costs fell well below 5 percent at an auction hours after Moody's cut the country's rating to two notches above junk status.

* U.S. Treasury Secretary Timothy Geithner pressed the Bank of England in June 2008 to make changes in the way that Libor, a key interest rate benchmark, was set, according to documents obtained by Reuters.


* Canada stock futures traded up 0.23 percent

* U.S. stock futures , , were up around 0.3 percent   Continued...