CANADA STOCKS-TSX may open higher, fiscal cliff concerns remain

Thu Nov 8, 2012 8:59am EST
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

Nov 8 (Reuters) - Toronto's main stock index looked set to open higher on Thursday after a sharp fall in the previous session, although looming concerns about the U.S. "fiscal cliff" could limit gains.


* The European Central Bank held its main interest rate at 0.75 percent, deferring any cut in borrowing costs while it assesses the extent of the euro zone's economic downturn and waits for a cue to use its new bond-purchase programme.

* Tim Hortons Inc reported a higher third-quarter profit, helped by higher sales and a lower effective tax rate.

* Manitoba Telecom Services Inc, which has said it may sell its Allstream business, reported a rise in third-quarter profit on demand for wireless, broadband and IPTV services.

* Canadian Natural Resources Ltd reported a 57 percent fall in third-quarter profit on weak prices, and cut its full-year forecast for crude oil and natural gas liquids output.

* Manulife Financial Corp's third-quarter loss narrowed as a stronger performance in its investment portfolio offset a C$1 billion charge related to a shift in actuarial assumptions.

* Air Canada reported a 56 percent rise in third-quarter operating profit and said it was in talks with the government for an extension of pension deficit funding relief.   Continued...