CANADA STOCKS-TSX may open higher, storm damage seen limited

Tue Oct 30, 2012 8:53am EDT
 
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Oct 30 (Reuters) - Canada's main stock index looked set to open higher on Tuesday, as the initial damage inflicted by a powerful storm on the U.S. east coast seemed to have been less severe than many had expected, but kept Wall Street closed for a second day.

TOP STORIES

* Sandy, one of the biggest storms ever to hit the United States, battered the nation's eastern seaboard on Tuesday, swamping New York City streets with record levels of floodwater, blacking out power to millions of people and bringing transportation to a halt through much of the region.

* Talisman Energy Inc, that recently replaced its chief executive amid takeover speculation, reported a loss in the third quarter mainly due to impairment charges.

* Yamana Gold Inc reported a 6 percent fall in third-quarter adjusted profit on Monday as lower metal prices and higher production costs outweighed strong gold sales volumes.

* Spain's recession extended into the third quarter while inflation stayed high in October, data showed, indicating a government austerity programme to cut the public deficit is also pushing up living costs.

* British oil company BP raised its dividend and signaled a more upstream-focused future beyond 2014 along with stronger than expected quarterly profits.

* The Bank of Japan boosted its monetary stimulus for the second month in a row in response to intense political pressure for action and mounting evidence that the world's third-largest economy was on the cusp of recession.

MARKET SNAPSHOT   Continued...