CANADA STOCKS-TSX may open higher, euro zone in focus

Thu Oct 4, 2012 8:26am EDT
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Oct 4 (Reuters) - Canada's main stock index looked set to open higher on Thursday after the European Central Bank left interest rates unchanged at its policy meeting and as upbeat U.S. economic data in the previous session helped alleviate fears of global slowdown.


* The euro zone is considering aiding Spain by providing insurance for investors who buy government bonds in a move designed to maintain Spanish access to capital markets and minimize the cost to European taxpayers, European sources said.

* The European Central Bank kept its interest rates on hold on Thursday as markets awaited signals from its President Mario Draghi about when he might pull the trigger on his new bond-buying plan.

* Mitt Romney battled back in his uphill drive to oust President Barack Obama on Wednesday with an aggressive debate performance that put his campaign on a more positive footing after weeks of stumbles and knocked Obama off-stride.

* Spain's central bank head cast doubt on the government's 2013 budget and deficit cutting plans, saying they were based on a too-rosy outlook for the economy and tax revenue.

* The European Union is poised to ban imports of Iranian gas into Europe as part of its efforts to ratchet up pressure on the Islamic Republic over its nuclear program, diplomats said.

* Spanish borrowing costs mostly fell at a bond auction but uncertainty over whether the government will ask for an international bailout means they could rise again soon.

MARKET SNAPSHOT   Continued...