CANADA STOCKS-TSX may open lower on sluggish EU progress

Wed Oct 10, 2012 8:31am EDT
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Oct 10 (Reuters) - Toronto's main stock index looked set to open lower on Wednesday, tracking global markets, as persisting troubles in the euro zone and a gloomy outlook for company earnings fueled worries about stalling global growth.


* The International Monetary Fund urged European policymakers to deepen the financial and fiscal ties within the euro area with some urgency to restore sagging confidence in the global financial system.

* Pharmacy chain Jean Coutu Group Inc reported a lower quarterly profit on Wednesday despite higher revenue, but profits were higher after excluding a gain that boosted-year ago earnings.

* Aurico Gold said it had agreed to sell the Ocampo mine in Mexico, as well as adjacent exploration projects and a 50 percent stake in the Orion project, to tycoon Carlos Slim's Minera Frisco for $750 million.

* Stronger demand for aluminum products from airplane and automobile producers helped Alcoa Inc's third-quarter profit before one-time charges beat Wall Street's expectations, offsetting weak aluminum prices and worries about China's slumping economy.

* Toyota Motor Corp said it would recall more than 7.4 million vehicles worldwide as a faulty power window switch was a potential fire hazard, the latest in a series of setbacks that have dented its reputation.


* Canada stock futures traded down 0.13 percent   Continued...