CANADA STOCKS-TSX may open higher on JPMorgan results

Fri Oct 12, 2012 8:42am EDT
 
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Oct 12 (Reuters) - Toronto's main stock index looked set to open higher on Friday, taking cues from its largest trading partner, after robust earnings from JPMorgan marked a strong start for the U.S. banks earnings season.

TOP STORIES

* JPMorgan Chase & Co said third-quarter earnings jumped 34 percent as it made more home loans.

* Canadian Prime Minister Stephen Harper said that Canada wants a growing relationship with China, but that investments must be scrutinized from a national security perspective.

* The world could see a gradual easing of oil prices over the next five years due to sluggish economic growth and rising energy efficiency and as production increases steeply in Iraq and North America, the West's energy watchdog said.

* Oil major BP Plc has secured U.S. government permission to ship U.S. crude oil to Canada, and Royal Dutch Shell has applied for an export license, as rising production in the world's top oil consumer upends global energy flows.

* Germany held firm in insisting it was too soon to say Greece deserved more time to meet its budget-cutting goals even as the head of the IMF laid out the case for leniency.

* Output at euro zone factories grew much more than expected in August, helped by summer demand for food and French car production, but industry's apparent resilience is unlikely to be enough to avoid a recession in the indebted region this year.

MARKET SNAPSHOT   Continued...